Tuesday’s Futures Setups
US industrial production rose a less-than-expected
.1% in August. Hurricane Isabel will likely be a Category 3 hurricane when
it hits the East coast this week.
Sugar had a bad day. The 20-MA is trying to flatten out. It looks like we’ll
test the 9/9 low.
Wheat is getting into the zone, and had a good close.
Gold made a hammer, bouncing off two trendlines.
With the hurricane about to hit, lumber has been in the news.
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.
Be advised that some futures contracts are prone to gaps.
Remember, use stops on all your trades.