Thursday’s Futures Setups

The S&P
500 futures for September
(
SPU2 |
Quote |
Chart |
News |
PowerRating) sold off at the end of the day to
close right around the 50-day moving average at 906.10, down 5.09. The Nasdaq
100 for Sept.
(
NDU2 |
Quote |
Chart |
News |
PowerRating) at one point broke above the 20-day and 50-day
moving average, but by the end of the session, lost 7.50 to end at 943.00.

Tomorrow we will be rolling the broader index futures to the December contract.
SPU2 will become SPZ2 and NDU2 will become NDZ2. The E-minis ESU2 (S&P 500) and
NQU2 (Nasdaq 100) will become ESZ2 and NQZ2.

November soybeans
(
SX2 |
Quote |
Chart |
News |
PowerRating) were the big winners of the day. Beans rallied
and closed above key resistance at 5.76 to fresh new highs. SX2 closed at $5.89
1/2 a bushel a gain of 12 1/4 cents or 2.12%. Tomorrow the U.S. Government will
release its monthly crop report. Beans and grains have been making newer highs
due to a drought driven rally. Initial resistance is at 5.90 with secondary
resistance at 6.00. Initial support is at 5.76 and secondary support is at 5.50.