Wednesday’s Futures Setups

Benchmark 10-year
Treasuries had their biggest rally in eight weeks, as a gauge of
consumer confidence fell to its lowest level since 1993, fueling speculation the
Federal Reserve will cut interest rates. This moved the December contracts.
Despite the not-very-positive consumer confidence numbers, the markets did not
fare that badly. The Dec. S & P 500 futures (SPZ2)
dropped 9.80 or 1.10%, to end at 882.

Two-year notes had their largest gain in a month as investors said the slide in
confidence will crimp consumer spending, which accounts for two-thirds of the US
economy. The Dec. 10-year note (TYZ2)
rallied from its 112 support zone to close at 114.39 up 1.03. The Dec. 30-year
bond (USZ2)
rose 1.59 or 1.46% to 110.56 as it rallied from its 108 support line.

The tech-heavy Nasdaq 100 futures for Dec. (NDZ2)
fell 23 or 2.33% to land just above the 960 support level at 964.00. For a
closer look at the technical levels on the NDZ2,

click here for Carolyn Boroden’s Future Perspectives.

Possible
short candidates: