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Tuesday, August 5


A Brain is a Terrible Thing to Waste



E-mini S&P 500 Futures (September), Daily Chart

It looks like the ES successfully tested the bottom of the trading range that extends back to June. We'll see if it has any oomph to get above the midpoint of the range (991) and stay up there.


Euro Futures (September), Daily Chart

If the Euro reverses here it should be a good short. I'm still carrying the CD short from .7190 with a breakeven stop, so it would be nice to see some more strength from the greenback now.


Live Cattle Futures (October), Daily Chart

Next to the bonds, the cows are the most strongly trending market I watch. Price has moved more or less straight up since late June. I'd look to get long the cows if price comes down in an orderly way and a pretty bar forms to execute against. I'll just keep an eye on it for now.




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