TKO In Beans
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
July beans
(
SN2 |
Quote |
Chart |
News |
PowerRating) sold off fairly hard on Friday. This action takes out
the recent lows and sets up a Trend Knockout (TKO)*. Look for continuation here
but only if it can trade above Friday’s highs. For more on the TKO, see my
articles under Traders
University.
Although July silver
(
SIN2 |
Quote |
Chart |
News |
PowerRating) (mentioned Thursday night) "faked
out" of a pullback on Friday, it still looks like it has the potential to
resume its strong uptrend.
The June Japanese Yen
(
JYM2 |
Quote |
Chart |
News |
PowerRating), mentioned Thursday night, still looks like
it has the potential to rally out of a pullback.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
*Speaking of the TKO, let’s hope Lewis TKO’s Tyson because I’d
hate to see him stomping on
your children’s testicles. I’m just glad I have girls!