Thursday’s Futures Setups

• June 19, 2002
• TradingMarkets Editors

In today’s trading, the S&P 500 and Nasdaq 100
futures were lower at the beginning of trade, and stayed that way for the
majority of the session. The September Nasdaq 100 futures
(
NDM2 |
Quote |
Chart |
News |
PowerRating)
were battered down by big tech titans such a Apple Computer
(
AAPL |
Quote |
Chart |
News |
PowerRating),
Advanced Micro Devices
(
AMD |
Quote |
Chart |
News |
PowerRating) and Micron Technology
(
MU |
Quote |
Chart |
News |
PowerRating)
dropped amid profit warnings and regulatory despair. The September S&P 500
futures
(
SPU2 |
Quote |
Chart |
News |
PowerRating) dropped to their worst levels in two weeks. The S&P 500
futures closed at 1020.50, down 24.69, or 2.36%. One
potential positive was that the VIX
spiked up 2.38 points to 29.71. While that is
not a bullish signal itself, the fear that this indicates is entering the market
suggests that such a signal could be on the horizon. Keep your eyes on the Market
Bias page.

The Treasuries continued to move higher
today. Both the September 10-year Treasury note
(
TYU2 |
Quote |
Chart |
News |
PowerRating) and the
30-year bond
(
USU2 |
Quote |
Chart |
News |
PowerRating) hit new highs. Both treasuries are on the

TradingMarkets.com Momentum 5 List.

Possible Turtle Soup Plus One Sell Setup

Possible Turtle Soup Plus One
Buy Setup

Contract	Setup	Direction	Trigger
Sept dollar ( DXU2 | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 113.60
July lean hogs ( LHN | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 50
Sept Nasdaq 100 ( NDU2 | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 1200
Sept S&P 500 ( SPU2 | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 1040
Sept Dow Jones Indus ( DJU2 | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 9810

Pullback From The High

Contract	Setup	Direction	Trigger
July wheat ( WN2 | Quote | Chart | News | PowerRating)	Pullback from the high	UP	2.82
July silver ( SIN2 | Quote | Chart | News | PowerRating)	Pullback from the high	UP	5.04
August gold ( GCQ2 | Quote | Chart | News | PowerRating)	Pullback from the high	UP	325.00
July frozen orange juice ( JON2 | Quote | Chart | News | PowerRating)	Pullback from the high	UP	break above 91
July bean oil ( BON2 | Quote | Chart | News | PowerRating)	Pullback from the high	UP	break above 18.30

Please note that
while there are strong trends in some commodities, 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.

Use stops on all your
trades.