Thursday’s Futures Setups
After three down days, a CVR I buy signal
indicates a bullish bias for the S&Ps on Thursday. The short calls for the
past two days panned out well, though.
February Pork Bellies
(
PBG3 |
Quote |
Chart |
News |
PowerRating) look ready to
resume their uptrend after a four-day pullback from highs.
Long
Candidates:
|
Contract
|
Setup
|
Direction
|
Trigger
|
| E-Minis ( ESZ2 | Quote | Chart | News | PowerRating) |
CVR I Buy |
up | above Wednesday’s high |
| Nasdaq E-minis ( NQZ2 | Quote | Chart | News | PowerRating) |
CVR I Buy |
up | above Wednesday’s high |
| S&Ps ( SPZ2 | Quote | Chart | News | PowerRating) |
CVR I Buy |
up | above Wednesday’s high |
| Pork Bellies ( PBG3 | Quote | Chart | News | PowerRating) |
Pullback From Highs |
up | above Wednesday’s high |
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March Sugar
(SBH3)
managed to take out its recent highs
Tuesday by a small
margin, and pulled
back today. Look for more weakness on Thursday.
30-year bonds (USZ2)
look like a
pullback from lows now, especially after Pimco’s Bill Gross said today in an
interview that “the bond market has seen its best days.”
The Canadian dollar
(CDZ2)
looks like it formed
the
triple top
I’ve been talking about.
Looks
down here.
Short
Candidates:
| Contract |
Setup
|
Direction
|
Trigger
|
| December Bonds ( USZ2 | Quote | Chart | News | PowerRating) |
Pullback
|
down
|
below Wednesday’s low |
|
March Sugar |
Bearish Bar |
down | below Wednesday’s low |
|
Canadian Dollar |
Triple Top |
down | below Wednesday’s low |
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Please
note that while there are strong trends, one bar or a series of bars forming a
setup can sometimes indicate a contra move for the next day. This contra move
may not be long-lasting — maybe only for a day or two. Trading with the main
trend is always the highest probability trade.
Remember,
use stops on all your trades.
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