Natural Gas Stays Bullish while Financials Gain
Comments for October 8, 2009
LOOKING AHEAD TO THURSDAY BY REFLECTING BACK ON WEDNESDAY’S ACTION
Natural Gas futures in a Bull Pennant and the Financials still in an Uptrend.
ENERGIES: 10/08/09 Lower close Wednesday for crude and heating oil along with the RBOB and natural gas. In spite of recent rallies in the energies my sell signals are still in place with crude, heat and the RBOB, making lower lows and highs since early August. Natural gas settled lower but is in a BULL PENNANT as shown below looking to move much higher, technically, if not fundamentally.
FINANCIALS: 10/08/09 Higher close yesterday for the notes and bonds while slightly lower for the eurodollar but no changes technically again. The financials are still in uptrends which is normally unusual with the indicies in uptrends also.
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.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.