Sugar Setting Up

May 22, 2002
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.

July sugar
(
SBN2 |
Quote |
Chart |
News |
PowerRating) is in its first pullback since its choppy rally from life-of-contract lows.

Follow Up/Looking Ahead

The June Canadian Dollar
(
CDM2 |
Quote |
Chart |
News |
PowerRating) has been in a strong uptrend as of late.
It could set up on the next pullback.

The Dollar remains in a solid downtrend. The June Japanese Yen
(
JYM2 |
Quote |
Chart |
News |
PowerRating)
has been extremely strong in light of this action. We could see setups here soon
on a pullback.