Weak Meats Could Set Up Soon
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.
May coffee
(
KCK2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, continues to correct. Continue to
watch for a resumption of its breakout.
The June Yen
(
JYM2 |
Quote |
Chart |
News |
PowerRating) still looks like it has the potential to continue
its uptrend, especially if it can take out Thursday’s high.
Looking Ahead
The meats have been selling off hard as of late. They could set up soon as
Bow Ties shorts.
Once again, the April crude complex remains in a strong uptrend and could set up soon on a
pullback.
Best of luck with
your trading on Monday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!