Wednesday’s Futures Setups
The Fed left rates unchanged and said that the
upside and downside risks to sustainable growth are "roughly equal."
Consumer prices were up .3% in August; the core rate was up just .1%, the lowest
rate in 37 years. Bonds fell.
Sugar is still trying to turn…
And maybe also wheat.
Lumber has been in the news. The hurricane is coming, and people are buying
plywood. Looks like by the time it gets to shore, though, it won’t be as
powerful as originally though.
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.