Tuesday’s Futures Setups

The September S&P 500
futures stock index

(
SPU2 |
Quote |
Chart |
News |
PowerRating)
is going through a “corrective
bounce,” a type of rebound often seen in down-trending bear markets. We are not
yet out of the woods, but the positive bias has helped bring back more money
from the sidelines.

While it looks like this may be the bottom that many traders and investors are
looking for, they should not become overly excited and be expecting any big
V-Bottom reversal. The SPU2 is just about ready to hit the 20-day moving average
on the daily chart. The key is to proceed with caution, always with stop losses
on trades. The Sept S&Ps closed at 893.70, up 40.00 or 4.72% points.

The Nasdaq 100 for September
(
NDU2 |
Quote |
Chart |
News |
PowerRating)

had a nice boost today pulling up and above the downtrend resistance line. A
move above this zone could have the Nasdaq testing its resistance at 981, which
is the 20-day moving average and then the secondary resistance at 1,000. The
Sept. Nasdaq 100 closed at 961.50 up 49.00 or 5.37%.

The September dollar
(
DXU2 |
Quote |
Chart |
News |
PowerRating)
has
rallied for the second session in a row. On a daily chart, the DXU2 looks like
it has formed a bottom island reversal, which could be bullish for the
greenback. Overhead resistance is at 108 and secondary resistance is at 111.
DXU2 ended the session at 107.40 up .51.

There are positive signs of more upward
movement in the S&Ps. For positive indicators look at the TradingMarkets.com
Market Bias Indicators



Click Here

Possible Turtle Soup Plus One Sell Setup.






Contract



Setup



Direction



Trigger

Dec cotton
(
CTZ2 |
Quote |
Chart |
News |
PowerRating)


Possible Turtle Soup Plus One Sell Setup



Down

break below 46
Sept 10-y note
(
TYU2 |
Quote |
Chart |
News |
PowerRating)
Possible Turtle Soup Plus One Sell Setup
Down break below 110
Sept British pound
(
BPU2 |
Quote |
Chart |
News |
PowerRating)

Possible Turtle Soup Plus One Sell Setup


Down
break below 1.55
Aug pork bellies
(
PBQ2 |
Quote |
Chart |
News |
PowerRating)

Possible Turtle Soup Plus One Sell Setup


Down
break below 70.00
Sept Japanese yen
(
JYU2 |
Quote |
Chart |
News |
PowerRating)

Possible Turtle Soup Plus One Sell Setup


Down
break below .008400

Possible Turtle Soup Plus One
Buy Setup




Contract


Setup



Direction



Trigger

Sept dollar
(
DXU2 |
Quote |
Chart |
News |
PowerRating)


Possible Turtle Soup Plus One Buy Setup

UP

break above 107
Sept Nasdaq 100
(
NDU2 |
Quote |
Chart |
News |
PowerRating)

Possible Turtle Soup Plus One Buy Setup


UP
break above 1000
Sept S&P 500
(
SPU2 |
Quote |
Chart |
News |
PowerRating)

Possible Turtle Soup Plus One Buy Setup


UP
break above 900
Sept Dow Jones Indus
(
DJU2 |
Quote |
Chart |
News |
PowerRating)

Possible Turtle Soup Plus One Buy Setup


UP
break above 8500

Pullback From The High







Contract



Setup



Direction



Trigger

Sept
wheat
(
WU2 |
Quote |
Chart |
News |
PowerRating)
Pullback from the high UP break above 3.00
Sept crude oil
(
CLU2 |
Quote |
Chart |
News |
PowerRating)
Pullback from the high UP break above 27.00

Sept frozen orange juice
(
JOU2 |
Quote |
Chart |
News |
PowerRating)

Pullback from the high

UP

break above 91

Aug bean oil
(
BOQ2 |
Quote |
Chart |
News |
PowerRating)

Pullback from the high
UP
break above 18.30

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.