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 (Monday). The index futures are now too
oversold to consider new shorts. The meats still appear to be in a longer-term
downtrend but are beginning to show some strength. The Dollar continues to slide
(see below) but is getting oversold. The energies may be topping but so far, are
not set up (see below).
Looking Ahead
The dollar, mentioned recently, continues to to slide. The inversed
currencies could offer setups after the Dollar pulls back.
The June crude complex appears to be putting in a top. Don’t be a hero
though, wait for setups.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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