Wednesday’s Futures Setups

• June 4, 2002
• TradingMarkets Editors

In yesterday’s Nightly Report we mentioned Wheat for July
(
WN2 |
Quote |
Chart |
News |
PowerRating) delivery rose
4.50 cent or 1.59% to $2.86 3/4 a bushel to break out of its neckline on the
inverted head and shoulders pattern it has been forming on a daily chart. Today
wheat pulled back and closed just above its support line of 2.80.

July soybeans
(
SN2 |
Quote |
Chart |
News |
PowerRating) are trending
higher and are on the

TradingMarkets.com Momentum 5 List.

July natural gas
(
NGM2 |
Quote |
Chart |
News |
PowerRating) is setting up
for a

Possible Turtle Soup Plus One Buy Setup

Possible Turtle Soup Plus One Sell Setup

Possible Turtle Soup Plus One
Buy Setup

Contract	Setup	Direction	Trigger
June dollar ( DXM2 | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 113.60
July lean hogs ( LHN | Quote | Chart | News | PowerRating)	Possible Turtle Soup Plus One Buy Setup	UP	break above 50

Pullback From The High

Please note that
while there are strong trends in some commodities, 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.