Tuesday’s Futures Setups

• May 24, 2002
• TradingMarkets Editors

The lightest volume day of the year in the
markets made it difficult to buoy the broader Index futures. No players
showed up for the game today due to the upcoming three-day weekend. A downgrade to the Semis hurt the Nasdaq 100 futures.

The June Nasdaq 100 futures
(
NDM2 |
Quote |
Chart |
News |
PowerRating)
dropped off by 31.50 or 2.44%

The June S&P 500 futures
(
SPM2 |
Quote |
Chart |
News |
PowerRating) gave
up 15 or 1.37% to finish up at 1082.

Next week will be a shortened trading week. With
today’s weak volume, we could see a pop in the markets on Monday or Tuesday.

July soybean oil
(
BON2 |
Quote |
Chart |
News |
PowerRating) is trending
higher and is on the

TradingMarkets.com Momentum 5 List.

July soybean meal
(
SMN2 |
Quote |
Chart |
News |
PowerRating) is rallying
from a pull-back from the high off of the 20-day moving average. Soy meal on the

TradingMarkets.com Momentum 5 List.

Possible Turtle Soup Plus One Sell Setup

Pullback From The High

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.