Sugar Pulls Back

December 11, 2001
Dave Landry

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.

The March Canadian Dollar
(
CDZ1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, is still
set up as a low-level cup and handle. This action suggests that it
could make another thrust higher. Continue to wait for follow through
though, as it hasn’t proven itself yet.

March copper
(
HGH2 |
Quote |
Chart |
News |
PowerRating), mentioned
Monday, still looks like it has the potential to bounce off its 50%
retracement of its melt-up from lows. Once again, if this rally is for
real, this might be a good area for a reversal.