Sugar May Get Sweeter
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
At the time this is being published, the S&P Globex Futures are trading 3.90 points higher and the Bond Market Futures are trading down 8 ticks.
March Sugar [SBH0>SBH0], on the Turtle Soup Plus One Buy List, hit 20 day lows today (a) but reversed to close well (b). This suggests that its uptrend may still be intact. Look for a buying opportunity here.
November Crude [CLX9>CLX9], on the Pullbacks Off Highs List, has formed yet another shallow pullback. Look for a buying opportunity here as the uptrend remains strong.
Volatility Watch
December Coffee [KCZ9>KCZ9] remains on all three Volatility Explosions Lists. Continue to watch for a larger-than-normal move (in either direction) as volatility reverts to its mean.
Best of luck with your trading on Wednesday!
Dave Landry
PS-Reminder: Protective stops on every trade!
PPS — If you haven’t checked out TRADEHARDNEWS.COM, you need to do so. Today, I watched the market sink after I saw a headline that the S&P had hit 2 month lows. Then later, I saw numerous “large to buy†and “stocks going positive for the first time of dayâ€. This prompted me to consider covering some shorts. Soon after, the market turned and rallied strongly. If you are serious about trading, I sincerely recommend you check this service out.
Editor’s Note: Join TradingMarkets.com director of research Dave Landry in a special “Trading 101” live audio Trader Forum on Thursday, September 30, at 7:30 PM ET. Get the answers you’ve been looking for on the how’s and why’s of trading. You can ask questions during the Forum, or send your them in advance to questions@TradingMarkets.com. We’ll same them for Dave to answer on the day of the Forum.