Wednesday’s Futures Setups
The June Dow Jones Industrial Average futures
(
DJM2 |
Quote |
Chart |
News |
PowerRating) gapped at the open and then within a half hour was trading down
at yesterday’s intraday lows. Then the Dow futures began a rally as investors
digested the data from the preliminary report issued by the Labor Department.
The report showed that business productivity, or output per number of hours
worked, surged 8.6% in the first quarter. This follows a 5.5% increase in the
fourth quarter. Trading was as high as 9923, then pulled back after the Fed
announced that interest rates would stay the same. The Dow futures closed at
9795 up 5.00.
The June S&Ps
(
SPM2 |
Quote |
Chart |
News |
PowerRating) continued lower
today ending the session at 1047.40 down 4.40.
The June Nasdaq 100
(
NDM2 |
Quote |
Chart |
News |
PowerRating) made a 20
day low today. The June futures closed at 1156 down 9.50.
The SPM2, NDM2 and DJM2 are on the
TradingMarkets.com Implosion 5 List.
Possible Turtle Soup Plus
One Buy Setup
For more information about how to use this
indicator,
click here.
Contract |
Setup |
Direction |
Trigger |
| June live cattle ( LCM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 63.80 |
| June Dow Jones Indus. ( DJM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 10000 |
July Wheat ( WN2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 2.72 |
| June Nasdaq 100 ( NDM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 1240 |
| June S&P 500 ( SPM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Buy Setup |
UP |
break above 1092.60 |
Possible Turtle Soup Plus One Sell Setup
Contract |
Setup |
Direction |
Trigger |
| June British Pound ( BPM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below 1.45489 |
| June Euro ( ECM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below .902302 |
Swiss Franc ( SFM2 | Quote | Chart | News | PowerRating) |
Possible Turtle Soup Plus One Sell Setup |
Down |
break below .620448 |
Pullbacks Off Highs
To learn more about how to trade pullbacks
successfully,
click here
Contract |
Setup |
Direction |
Trigger |
| June gold ( GCM2 | Quote | Chart | News | PowerRating) |
Pullback Off High |
UP |
Break above 310.00 |
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.