Wait For Your Next Pitch
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 much to look at tonight (Friday). Live cattle (see below)
continue higher. The energies look vulnerable but also seem sold out longer
term. The index futures remain strong but never really worked off the prior
overbought condition.Â
Considering the above, about the only interesting
thing I could find was March cotton
(
CTH2 |
Quote |
Chart |
News |
PowerRating). It remains set up as a low-level
cup and handle.
Follow Up/Looking Ahead
Live cattle, mentioned recently, continues higher and looks like it might
take out overhead resistance. Maybe we’ll get a reversal signal here soon. For
now though, you might want to wait for the situation to unfold.Â
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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