Tuesday’s Futures Setups
The S&Ps
(
SPZ1 |
Quote |
Chart |
News |
PowerRating) closed below their 20-day moving average, and just
above the lows for the day. Dow futures
(
DJZ1 |
Quote |
Chart |
News |
PowerRating) also closed at their 20-day,
and at their lows.
Soybeans
(
SH2 |
Quote |
Chart |
News |
PowerRating) traded in an inside day, just below their declining 50-day
moving average, and continue in their triangle. The 20-day moving average is
basically flat. Turtle
Soup Plus One candidate soybean meal
(
SMH2 |
Quote |
Chart |
News |
PowerRating) barely took out Friday’s
high before being forced back. This action has it in a descending triangle.
Soybean oilÂ
(
BOH2 |
Quote |
Chart |
News |
PowerRating) is also trading in a triangle.
British pounds
(
BPZ1 |
Quote |
Chart |
News |
PowerRating) bounced off their 50% retracement from their Nov.
1 – Nov. 23 slide, closing near their 200-day moving average. The rally from a
first pullback may pause here, but a move above Monday’s high would be
constructive.
Gold
(
GCG2 |
Quote |
Chart |
News |
PowerRating) broke a short-term uptrend line today, being forced back by
the Oct. 8 – Nov. 12 down trendline. Look for follow through Tuesday to the
downside. Silver
(
SIH2 |
Quote |
Chart |
News |
PowerRating) continues its disconnect with gold.
Pork Bellies
(
PBG2 |
Quote |
Chart |
News |
PowerRating) broke their uptrend line, and fell to their 50-day
moving average before pulling back. While the 50 may provide some support here,
longs don’t look good just yet.
Live cattle
(
LCG2 |
Quote |
Chart |
News |
PowerRating) closed at the 50% retracement on its recent run-up,
but still below its 20- and 50-day moving averages.
Momentum
5 list champ Sugar
(
SBH2 |
Quote |
Chart |
News |
PowerRating) finally showed some weakness, falling .24 to
its 20-day moving average, and also taking out a recent swing low. The first
.382 Fib retracement here is at 7.37; short below Monday’s low.
The yen
(
JYZ1 |
Quote |
Chart |
News |
PowerRating) is in a downtrend until proven innocent, holding tight to
its Implosion
5 list spot.The yen is also on the Volatility
Explosions- Low Multiple Days Readings list, which means a large move is
likely.
|
Contract
|
Setup
|
Direction
|
Trigger |
| Soybeans (SH2) |
Triangle
|
go
|
above/below Monday’s high/low, depending |
| Sugar ( SBH2 | Quote | Chart | News | PowerRating) |
Break
|
down
|
below Monday’s low of 7.50 |
| Japanese yen ( JYF2 | Quote | Chart | News | PowerRating) |
Volatility
|
down,
|
below Monday’s low |
| British pound (BPZ1) |
rally
|
up
|
above Monday’s high of 1.435 |
| Gold ( GCG2 | Quote | Chart | News | PowerRating) |
Break
|
down
|
below 76.100 |
Use stops on all your
trades.