Thursday’s Futures Setups
July cotton
(
CTN2 |
Quote |
Chart |
News |
PowerRating) was pulling back
from the highs, and today it broke out above the key resistance level of 40.00.
Its next resistance level is at 41.00. July cotton is on the
TradingMarkets.com Momentum 5 List.Â
The
Sept Swiss franc
(
SFU2 |
Quote |
Chart |
News |
PowerRating), Sept euro
(
ECU2 |
Quote |
Chart |
News |
PowerRating) and Sept
British pound
(
BPU2 |
Quote |
Chart |
News |
PowerRating) are trending toward newer highs. Keep an
eye on these currencies, because they could end up being possible
Turtle Soup Plus One Sell Setups. These currencies are on the
TradingMarkets.com Momentum 5 List.
Possible Turtle Soup Plus One Sell Setup
Contract |
Setup |
Direction |
Trigger |
| July cocoa ( CCN2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 1550 |
| Sept 10-yr note
|
Possible Turtle Soup Plus One Sell Setup |
Down | break below 105.00 |
| July cotton ( CTN2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down | break below 36 |
| July silver ( SIN2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down | break below 4.90 |
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 |
| June Nasdaq 100 ( NDM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 1200 |
| June S&P 500 ( SPM2 | Quote | Chart | News | PowerRating)] |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 1040 |
| June Dow Jones Indus ( DJM2 | 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.