Thursday’s Futures Setups

The Sept S&P 500 futures
(SPU2)
opened up with a flare and looked like the moves would continue to the upside.
Then the rally fizzled and dropped off in a sideways motion to hit the lows of
the day at 854. Then at around 2:45 PM EST the futures began to rally and
sizzled higher all the way to the end to close at the highs of the session. The
S&Ps closed at 876.50 up 15.50.

The Nasdaq 100
(NDU2)
followed a similar pattern as the S&Ps, however the NDU2 did not enjoy the
strong robust rally at the end of the session. The Nasdaq 100 futures closed at
919 up 12 points. Both the S&P 500 and Nasdaq 100 futures are showing signs of a
1,2,3 bottom on the daily chart

In the chart below, Aug pork bellies is rallying up after hitting its support.
The 50% line at 65 is the possible trigger point.

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