What’s Up, What’s Down: Bonds and Heating Oil Display Bear Pennant Formation

Comments for Tuesday, December 15, 2009

Looking Ahead to Today by Reflecting Back at Monday’s Price Action


Higher closes Monday for the Eurodollars and bonds while lower for the notes. All of the indices are still in up-trends long term but the bonds and notes are at or near critical areas to hold while in small BEAR PENNANTS.

Treasury Bond Chart


Higher closes for natural gas while lower for crude and heating oil along with the rbob. The crude made its lowest low and close since early October again while heat is still in a BEAR PENNANT. The rbob made a new recent low close also. Natural gas made its highest high and close in 1 1/2 months.  I am holding a Buy Signal on Natural Gas.

Heating Oil Chart

Natural Gas Chart

See the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at www.markethead.com.

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. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.

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.