Wait For Setups
Each
evening we focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the nightly
updates of the Futures and Market Bias pages. They are provided for
educational purposes only and are not intended to be direct trading
advice. Also, keep in mind that these remarks are made up to 12 hours
in advance of the markets opening. Therefore, overnight events may
alter the outcome of these observations.
There’s not too much to look at tonight. Bonds are closing in on
their recent highs and may offer a reversal play for the nimble soon,
but there’s no set up there yet. August unleaded looks like it make
another leg down, but so far isn’t set up either. And, the
grains are just all over the place.
Considering the above, about the only thing I could find that might
be worth a look was the September Canadian Dollar (CDU1).
It looks like it may be in the early phases of a continuation move
from a rollover. For the nimble, look for a shorting opportunity here.
Best
of luck with your trading on Wednesday!
P.S. Reminder: Protective
stops on every trade!
