Thursday’s Futures Setups

• June 5, 2002
• TradingMarkets Editors

Soybean futures rose on the Chicago Board of
Trade, getting most of the support from gains in soyoil. Soybeans increased
modestly on the strength of a rally in soyoil, with investors also still upbeat
about U.S. export prospects. July soybeans
(
SN2 |
Quote |
Chart |
News |
PowerRating) rose 4 cents to 5.13
3/4 a bushel.

July soybeans
(
SN2 |
Quote |
Chart |
News |
PowerRating) and July soybean meal
(
SMN2 |
Quote |
Chart |
News |
PowerRating) are trending
higher and are on the

TradingMarkets.com Momentum 5 List.

July wheat
(
WN2 |
Quote |
Chart |
News |
PowerRating)
has pulled back to test its support after breaking out of an inverted head and
shoulders pattern. Support is at 2.80. July wheat ended positive in today’s
trade. Up 1 1/2 cents to $2.83 1/2.

Possible Turtle Soup Plus One Sell Setup

Possible Turtle Soup Plus One
Buy Setup

Contract	Setup	Direction	Trigger
June dollar ( DXM2 | 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

Pullback From The High

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.