Tuesday’s Futures Setups
T-bonds
(
USZ1 |
Quote |
Chart |
News |
PowerRating) and 10-year notes
(
TYZ1 |
Quote |
Chart |
News |
PowerRating) (from the
Implosion-5 List) are looking very bearish after failing to hold gains over
the past two sessions. Off The Blocks
shorts.
Volume was slightly above normal as stock indexes moved higher. Dow
futures
(
DJZ1 |
Quote |
Chart |
News |
PowerRating) were on Monday’s Momentum-5
List and S&P futures
(
SPZ1 |
Quote |
Chart |
News |
PowerRating) nudged to a new multi-month
high, making both eligible for Off The Blocks.
An Off The Blocks
short in
British pounds
(
BPZ1 |
Quote |
Chart |
News |
PowerRating) would have kept you out of this
Implosion-5 List today, because the currency gapped higher. But the weak
close in the pound left a tail-at-a-low pattern, suggesting the contract will
soon move to a new two-month low.
December
copper
(
HGZ1 |
Quote |
Chart |
News |
PowerRating), a metal that
rallies in advance of improved economic conditions, is setup in a bullish flag
with rising lows — an ascending triangle on the intraday charts. Support was
hit at the low/close at 68.25.
Outside bars down in the grains — led lower
by wheat — after many contracts failed to close gaps shifts the bias to
negative, suggesting new contract lows in corn, wheat, and beans.
Contract
|
Setup |
Direction |
Trigger |
( USZ1 | Quote | Chart | News | PowerRating) and 10-year notes ( TYZ1 | Quote | Chart | News | PowerRating) |
Implosion-5 List | Down |
Off The Blocks |
Stock index futures |
Unrequited momentum |
Up |
Off The Blocks |
British pounds ( BPZ1 | Quote | Chart | News | PowerRating) |
Implosive, negative pattern |
Down |
Off The Blocks |
Copper ( HGZ1 | Quote | Chart | News | PowerRating) |
Bullish flag, intraday ascending Triangle at support. |
Up |
68.25 |
Grains
|
Devastating Day |
Down |
On Intraday pullbacks |
Define the risk before every trade and honor your stops.