What’s Up, What’s Down: Spotlight on Indices
Comments for January 7, 2011
Looking ahead to Friday by reflecting back on Thursday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
DESPITE A WEAK RESPONSE TO DAY’S MIXED UNEMPLOYMENT SITUATION ECONOMIC NUMBERS, I FEEL THE STOCK INDEX SECTOR IS STILL IN A STRONG UPTREND
INDICES: 1/7/11: Higher closes yesterday for the nasdaq while lower for the cash and dow futures along with the S&P’s and nasdaq. All of the indices continue to be in strong uptrends overall with but the dow and S&P’s settling lower after making new CONTRACT HIGHS in reversal type action although they were not down much. However, until a new contract high is made, if at all, you can’t avoid the possiblities of a top and/or retracement. On the other hand the nasdaq made a new CONTRACT HIGH AND CLOSE. Now add the unemployment number coming out Friday to the mix. BUY SIGNALS FOR THE DOW, S&P’S AND THE NASDAQ. CALL FOR DETAILS!
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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.