Wednesday’s Futures Setups
The Dow rallied 55 to 9040, the Nasdaq
gained 17 to 1640, and the S&P 500
rose 8 to 982. The ISM number came in less than expected, as did construction
spending. This sent December gold up $5.40 at $353.00, and September 10 year
T-notes down 9/64ths down to 117.19/64ths. Oil workers in Nigeria are on strike;
September crude oil was up .28 at $30.05.
Long Candidates:
None tonight.
Cotton
(
CTZ3 |
Quote |
Chart |
News |
PowerRating) made a wide-range bar up.
Feeders
(
FCQ3 |
Quote |
Chart |
News |
PowerRating) stopped near their 6/2
high…double top?
Corn
(
CU3 |
Quote |
Chart |
News |
PowerRating) triggered long today for what could prove to be a really nice
entry. If you missed it, try it on Wednesday. Wheat
(
WU3 |
Quote |
Chart |
News |
PowerRating) also
triggered long.
Â
Short Candidates:
None tonight.
Please note that while there are strong trends, one bar or a series of bars
forming a setup can sometimes indicate a contra move for the next day. This
contra move may not be long-lasting — maybe only for a day or two. Trading with
the main trend is always the highest probability trade.
Be advised that some futures contracts are prone to gaps.
Remember, use stops on all your trades.