Tuesday’s Futures Setups
The S&P 500
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) fell to the
-2.0 Volatility Band (834). This gave traders a point to be prepared to enter a
long position on the Sept. S&P 500 futures
(
SPU2 |
Quote |
Chart |
News |
PowerRating) but time ran out on a
very choppy trading day. The downdraft was prompted by ongoing concerns about
the economy and prospects for corporate earnings. The S&P futures closed at
833.50 down 31.50 or 3.64%.
The Nasdaq fell to levels not seen for five years
and the Nasdaq 100
(
$NSDX.X |
Quote |
Chart |
News |
PowerRating) fell to the -1.50 Volatility Band.
The Sept. Nasdaq 100
(
NDU2 |
Quote |
Chart |
News |
PowerRating) closed at 864 down 32 or 3.57%. There
are some key Time Cycles in the Nasdaq 100 futures.
Click Here for Carolyn Boroden’s Future Perspectives.
The Sept dollar
(
DXU2 |
Quote |
Chart |
News |
PowerRating) closed at
107.56, up .61.
Â
For CVR signals look at the TradingMarkets.com
Market Bias Indicators
Click Here
Possible Turtle Soup Plus One Sell Setup.
Contract |
Setup |
Direction |
Trigger |
| Sept wheat ( WU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 3.20 |
| Sept 30-yr bond ( USU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 106 |
| Sept 10-yr note ( TYU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 111 000 |
Possible Turtle Soup Plus One
Buy Setup
Contract |
Setup |
Direction |
Trigger |
| Aug pork bellies ( PBQ2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus one Buy Setup | UP | break above 65 |
| Sept coffee ( KCU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus one Buy Setup |
UP |
break above 48.00 |
| Sept silver ( SIU2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus one Buy Setup |
UP |
break above 4.70 |
Pullback From The High
Contract |
Setup |
Direction |
Trigger |
| Sept cocoa ( CCU2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP | break above 18.35 |
| Sept frozen orange juice ( JOU2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP |
break above 101Â |
Aug bean oil ( BOQ2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP |
      break above 20.00 |
Dec cotton ( CTZ2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP | break above 49 |
Sept 10-yr note ( TYU2 | Quote | Chart | News | PowerRating) |
Pullback from the high |
UP | break above 111 000 |
Please note that
while there are strong trends in some commodities, 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.