China posted lower than expected inflation numbers in January, boosting sentiment the PBoC will continue to move to stimulate the Chinese economy. Greek PM Tsipras is scheduled to meet with EU finance ministers on Wednesday amid signs that Greece is moving to a more conciliatory stance about refinancing Greek debt. The Greek news gave stocks a boost. There’s no significant US data out today. At 9 AM CT is the Dec. JOLTS job openings report; it is expected to show a rise of 18K after a big jump of 142K in November.
March EMini S&P Futures: It’s a Taylor Trading Technique Buy day and Monday was an NR7 day so there’s a breakout setup as well. Use the Monday high of 2051.75 as the reference price.
March T Bonds: Breakout setup (NR4, doji); look to be short if it’s below 147-02.
March Yen: Look to sell against the Friday low of 8390.
March Euro: Breakout setup (NR4, doji); use Monday’s high and low as reference prices.
April Gold: Breakout setup (ID, NR7 Monday); for downside breakout levels use the overnight low of 1233.30 and then Friday’s low of 1228.20.
March Sugar: Watch the Friday high of 14.90 for either an upside breakout (ID on Monday) or a Taylor Trading Sell Short day.
April Lean Hogs: Buy day; watch 67.77 as a pivot point on the upside.
Grains: There’s a USDA report out at 11 AM and there are a number of markets with breakout setups- consider taking early breakout trades and then keep an open mind for after the report.
March Soybeans: Breakout setup; start with Monday’s high and low as reference prices.
March Wheat: Another breakout setup; on the upside use Friday’s high (534-0); on the downside use yesterday’s low of 521-4.
March Soymeal: Look to sell a break below the 2 Feb. low of 327.50 for a breakout trade.
Essential Guide for Futures Swing Trading
In this guide, experienced trader and broker Scott Hoffman explains the trading methods he uses to analyze and trade the futures markets and to publish his trade advisory, Swing Trader’s Insight.
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