We only have one trade for the NQ and given the earlier sell-off in tech stocks a bullish signal could be very timely. The reward/risk is more than 3 to 1 and is also at the top of our rankings.

With high volatility and unusual world events, we have seen plenty of action. The directional indicators in the Power Rankings are encouraging, except there are many markets that have already made their moves this morning. Our technical indicators are supposed to take the emotion out of the market, however the emotion in the market seems to have negated this week’s technical numbers. The FOMC is scheduled to report this afternoon and political turmoil that has turned violent could make trade a much higher risk than it’s worth for this week.

Biggest Movers

NASDAQ (NQ) – Up 11 – Bullish
Led by losses in Apple, prominent tech stocks including Facebook, Netflix and Alphabet (Google) take major hit, bringing the NASDAQ down with them. Still a strong bull bias, we may see an ample opportunity to capture premium as the market attempts to recover from last week’s surprise sell off.

SUGAR (SB) – Down 9 – Bearish
One of the leaders in economic research says, “”Sugar prices have taken a pummeling over the last month, largely due to Brazil’s decision to cut the price of gasoline, which could encourage producers to divert more cane to sugar production rather than to ethanol”

VDO Futures Power Rankings

Legend

[   ] – Associated Trade Rec (call your broker for more info)

[   ] – Market was UP

[   ] – Market was DOWN

VDO – Last Week’s Price Volatility in Dollar Terms (Volatility Dollar Opportunity)

Bias – Directional Trend

Rank – Based on the VDO

Volatility – Last Week’s Price Volatility

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