The Trend is Your Friend

Aaah August, the hint of fall in the air. Gut check time!! Stay focused so you can complete what you started. If you are getting the results you have prepared for keep playing it out one day at a time. If your results have been straying off course, it is never to late to get back on track when trading futures and forex. You know the mistakes, learn from them and just focus on doing it right today.

In this featured tip, we focus on market foresight and provide you with some recommendations for your favorite markets. If price action favors the trend, “DON’T FIGHT IT”. Remember that with futures and forex trading you can sell first and buy back lower or buy first and sell back higher. The recommendations this week will help you decide which markets you may want to sell first or which markets you may want to buy first.

Weekly Mood Scale
0-50% = bearish / 50-100% = bullish

S&P500 Weekly Mood:

  1. Market Grade: 7%
  2. Market Mood: Bear
  3. Pivotal Level 978 (bull above / bear below)
  4. Upside Resistance 1015
  5. Underlying Support 952

10 Year Notes Weekly Mood:

  1. Market Grade 91%
  2. Market Mood: Bull
  3. Pivotal Level 117240 (bull above / bear below).
  4. Upside Resistance 118240
  5. Underlying Support 116080

EUR/USD Currency Weekly Mood:

  1. Market Grade 13%
  2. Market Mood: Bear
  3. Pivotal Level 1.4080 (bull above / bear below).
  4. Upside Resistance 1.4240
  5. Underlying Support 1.3875

Corn Weekly Mood:

  1. Market Grade 31%
  2. Market Mood: Bear
  3. Pivotal Level 322 (bull above / bear below).
  4. Upside Resistance 337
  5. Underlying Support 315

Oil Weekly Mood:

  1. Market Grade 22%
  2. Market Mood: Bear
  3. Pivotal Level 67.00 (bull above / bear below).
  4. Upside Resistance 72.00
  5. Underlying Support 60.00

Gold Weekly Mood:

  1. Market Grade 14%
  2. Market Mood: Bear
  3. Pivotal Level 935.0 (bull above / bear below).
  4. Upside Resistance 963.0
  5. Underlying Support 925