Wednesday’s Futures Setups

  • October 8, 2002
  • TradingMarkets Editors

The index futures appear to be in bounce mode, and we do have a CVR II and VI
buy signal triggering for tonight. Daytraders may find some good plays to the
long side if we indeed get a bounce.

 


Possible
short candidates:



Contract

Setup

Direction

Trigger

Orange
Juice
(
JOX2 |
Quote |
Chart |
News |
PowerRating)

Momentum
continuation

 down Trade below 90.75
Soybean Oil
(
BOZ2 |
Quote |
Chart |
News |
PowerRating)		 Consolidation at low down Trade below 19.46
Feeder Cattle
(
FCV2 |
Quote |
Chart |
News |
PowerRating)		 Breakdown from pullback down Trade below 80.20
Canadian Dollar
(
CDZ2 |
Quote |
Chart |
News |
PowerRating)		 Momentum continuation down Trade below .6258


Possible
long candidates:






Contract
 Setup
Direction
 Trigger
Pork Bellies
(
PBG3 |
Quote |
Chart |
News |
PowerRating)		 Continuation out of pullback to 20-day MA   up Trade above 75.25
Lean Hogs
(
LHZ2 |
Quote |
Chart |
News |
PowerRating)


Continuation out of pullback to 20-day MA  

up Trade above 40.35
Cocoa
(
CCZ2 |
Quote |
Chart |
News |
PowerRating)		 Momentum continuation up Trade above 2274
Sugar
(
SBH3 |
Quote |
Chart |
News |
PowerRating)		 Breakout to new highs up Trade above 7.15

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.

Use stops on all your trades.