Watch For Pop Down Opening On Index Futures
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
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
Â
March
sugar
(
SBH1 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks poised to resume its
breakdown from a major topping formation. Continue to
look for a shorting opportunity here but wait for follow-through to the
downside as it did close up on Thursday.
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December
bonds
(
USZ0 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still look vulnerable. Continue to look
for a shorting opportunity here.
Watch the index futures on
Friday’s open. If they can rally back from a likely gap down (see my Stock
Outlook), they might offer a daytrade on the long side for the nimble.
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!