John Carter analysis: Futures and Commodities Preview

John Carter discusses last week’s low market and what to trade going into this week. The S&P saw two closes below the 21-period moving average on the daily chart, which Carter says is a trend change. The triggers causing a previous advance over and the market may sell-off, which will erase the gains. Carter says the DOW will see more weakness. The dollar index shows some strength, so Carter suggests shorting the Euro futures. The yen, stocks and bonds all broke down last week, but today the yen and bonds are up. Carter suggests buying the Yen. Bonds sold off before FOMC and came back strong. The 10-year note went up and Carter says this is his favorite market to buy. Carter does not see a strong trade in crude, natural gas or metals. Live cattle is at the 21-period moving average after an uptrend, and Carter suggests buying this market. He would also buy a pullback in coffee. Soybeans are on the verge of new lows, wheat had a spike and corn is going down.