Tuesday’s Futures Setups
The S&P Futures
(
SPZ2 |
Quote |
Chart |
News |
PowerRating) appear to still be headed for a
retest of the July lows, and index players should look for intraday shorting
opportunities in the index futures.
Possible short candidates:
Contract |
Setup |
Direction |
Trigger |
|
Orange Juice |
Momentum continuation |
down | Trade below 92.40 |
| Soybean Oil ( BOZ2 | Quote | Chart | News | PowerRating) |
Consolidation at low | down | Trade below 19.40 |
| Feeder Cattle ( FCV2 | Quote | Chart | News | PowerRating) |
Breakdown from pullback | down | Trade below 79.45 |
| Canadian Dollar ( CDZ2 | Quote | Chart | News | PowerRating) |
Momentum continuation | down | Trade below .6260 |
Possible
long candidates:
Contract |
Setup |
Direction |
Trigger |
| Pork Bellies ( PBG3 | Quote | Chart | News | PowerRating) |
Pullback to 20-day MA |
up | Trade above 74.30 |
| Lean Hogs ( LHZ2 | Quote | Chart | News | PowerRating) |
Pullback to 20-day MA and trendline |
up | Trade above 39.75 |
| Cocoa ( CCZ2 | Quote | Chart | News | PowerRating) |
Momentum continuation |
up | Trade above 2254 |
| Sugar ( SBH3 | Quote | Chart | News | PowerRating) |
Breakout to new highs |
up | Trade above 6.89 |
Please note that while there are strong trends, 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.