Watching And Waiting, Continued
Marc Dupee will be out of the
office until November 10. In his absence this column is being written by
TradersWire’s Duke Heberlein.
Well, the expected result and reaction to Tuesday’s
presidential elections have been put on hold as a recount of Florida and an investigation into
possible voter confusion in one of that state’s counties goes on. This continues
the watching and waiting that has been the activity over the past two days.
Looking ahead to possible setups when the dust does
settle, soymeal
(
SMZ0 |
Quote |
Chart |
News |
PowerRating), off the Momentum-5
List, is pulling back from its recent highs and could be resuming its
uptrend.
Dow futures
(
DJZ0 |
Quote |
Chart |
News |
PowerRating), off the same list,
are consolidating on their 50-day moving average, and could be finding support
at that area. Look for a pop to the upside out of this pattern as a signal of
potential momentum continuation.
Finally, January orange juice
(
OJF1 |
Quote |
Chart |
News |
PowerRating) is
nearing the trigger of a Turtle
Soup Plus One Sell and could be resuming its downtrend.