Big Weekend Edition: 16th Anniversary

This weekend marks the 16th anniversary of the Big Weekend Edition and a milestone in our publication. As many of you know, I’ve taken over as head of IndicatorWarehouse.com and it’s becoming increasingly difficult to manage both activities. Therefore, as of July 27, 2018, we’ll be suspending the nightly and weekend updates until we’re able to blend the two businesses together.

I also have to apologize for the interruption in the nightly updates last week. I’ve had some internet issues which are not totally resolved yet, and that caused some problems getting the information out to you. Thank goodness it was a holiday week, so there wasn’t a lot of trading going on anyway!

Even though we won’t be producing the nightly/weekend content please feel free to write me with any market/trading questions you might have. I’ll be sure to give you my input. We will still be releasing updates from time to time; however they won’t be on the usual schedule.

Thank you for your readership these last 16 years. It means a lot to me.

Sincerely,

Erich

Charts in this issue: Cocoa, Bonds, Japanese Yen.

1: CURRENCIES: Opening Range Open Price: 5:20 (Pacific)/7:20 (Central)/8:20 (Eastern)

Australian Dollar FLAT

British Pound

Watch List – Is the Pound flattening out? The market is reacting to support around the 13000 (September) area as prices get close to challenging the contract lows. I’m not convinced of a bullish reversal yet; however I’ll be on the lookout for signs of resistance and another chance to sell. If the sellers can’t push the market back through the contract lows that will be a sign the bulls are starting to take control.

Canadian Dollar FLAT
EuroFX FLAT

Japanese Yen

The Yen is beginning to consolidate the trading range and prices seem content to trade between the 92500 and 91000 range. I thought about bracketing this range and buying/selling a breakout higher or lower, but opted to stay with the trend for now. There’s obvious buying support on last week’s lows. If the bears push the market below here it should send some buyers scrambling for cover.

If the September Japanese Yen opens at or above 90400
SELL 1 September Japanese Yen (6J) at 90400 (stop)(day)
If filled: Exit Stop: 92500 (stop)(GTC)
Approximate Risk: $2625
Profit Target: TBA
Degree of Risk: HIGH

Japanese Yen Chart

2: INDICES: Opening Range Open Price: 6:30 (Pacific)/8:30 (Central)/9:30 (Eastern)

Emini-S&P FLAT

30 Year Bond

I’m not a fan of buying breakouts, especially in markets as expensive as the Bonds, but Friday’s session produced a triple top of sorts and a breakout above here might see the market continue higher for the near future. I’ll cover the trade as deep as I can afford and will look to adjust stops ASAP if the trade continues in my favour.

If the September 30 Year Bond opens at or below 146-18
BUY 1 September 30 Year Bond (ZB) at 146-18 (stop)(day)
If filled: Exit Stop: 143-00 (stop)(GTC)
Approximate Risk: $3562
Profit Target: TBA
Degree of Risk: Moderate to HIGH

3: GRAINS: Opening Range Open Price: 6:30 (Pacific)/8:30 (Central)/9:30 (Eastern)

Corn

Watch List – Corn may have put in a short term bottom after a strong move lower this last month. I’m not looking to buy yet but a move back to the 390 zone (September) would not surprise me. In the meantime I’ll be looking for another chance to short.

Soybean Oil

Watch List – Bean Oil is another market that seems reluctant to head lower. Friday’s bounce confirmed a double bottom that formed the week before. But I need a little more time to watch what the market is doing before I commit to anything.

Soybeans

Watch List – If any market has the potential to become bullish quickly it’s the big Bean market and Friday’s very strong rally has me thinking just that. If I were braver I’d just buy the market Monday and tuck my stops below last week’s lows, but I’m not, so I’ll wait.

Wheat

Watch List – Wheat was also bullish going into the weekend; however unlike the rest of the grains Wheat never really emerged from the broader sideways trading range that seems to be holding prices.

4: MEATS: Opening Range Open Price: 6:30 (Pacific)/8:30 (Central)/9:30 (Eastern)

Feeder Cattle FLAT
Live Cattle FLAT

5: METALS

Gold: Opening Range Open Price: 5:20 (Pacific)/7:20 (Central)/8:20 (Eastern) FLAT
Silver: Opening Range Open Price: 5:25 (Pacific)/7:25 (Central)/8:25 (Eastern) FLAT
Copper: Opening Range Open Price: 5:20 (Pacific)/7:20 (Central)/8:20 (Eastern) FLAT

6: SOFTS: Opening Range Open Price: 6:30 (Pacific)/8:30 (Central)/9:30 (Eastern)

Cocoa

It’s still a few months until the Cocoa harvest but the market is getting a bit of a bearish flavour already. I’ll look to sell the market on a break below the last swing low. Conversely a break above the 2600 resistance zone could be a good reason to buy, but first things first.

If September Cocoa opens at or above 2330
SELL 1 September Cocoa (CC) at 2330 (stop)(day)
If filled: Exit Stop: 2600 (stop)(GTC)
Approximate Risk: $2700
Profit Target: TBA
Degree of Risk: Moderate to HIGH

Coffee FLAT
Sugar FLAT

7: ENERGIES: Opening Range Open Price: 6:00 (Pacific)/8:00 (Central)/9:00 (Eastern)

Natural Gas FLAT
Crude Oil FLAT

Optimization WordPress Plugins & Solutions by W3 EDGE