Thursday, October 3, 2013

Futures at the Close

It's not the norm that futures are clearer than equity assets, but considering the size of some of the contracts traded, I think it is a bit more meaningful when they are clearer.

As for the Index Futures...
 ES 5 min chart positive

NQ 1 min chart positive (after having shown nothing positive for the last week or so.

TF 5 min futures are positive and especially so at what could be considered a channel buster.

Precious metals... As you know, these have not been very clear, to the point in which I wouldn't post charts because I didn't want anyone studying them so close as to try to justify a position when the charts said absolutely nothing; so this is clear improvement in both silver and gold.
 Gold 15 min. futures showing a negative before price fell, a positive before it rallied back up and a leading positive as it is flat.

Silver 30 min futures makes me wonder if the break on 10/1 should be considered a head fake move being the range before it was pretty defined, in any case, a positive general outlook there too.

Finally, Crude...

Crude oil 30 min positive which doesn't surprise me, I've been waiting for the set up to get in to good tactical position and just missed it by a half a day, but I think it's still a good set up and it has a function to perform for Wall St. so I like it.

More to come, I will check futures again later tonight and see if there is anything significant as the last several nights there hasn't been much.




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