Comments for Thursday, December 31, 2009
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
Higher closes yesterday for eurodollars, notes and bonds again but no changes technically. The Eurodollar is still in a support area while the bonds have a double bottom but look lower overall along with the notes. Except for ‘flight to quality’ I can’t see why people would want to be long the financials with interest rates at or near rock bottom and the indices still in up-trends at this time! Continue to look for lower financials overall. I hold technical Sell Signals for the Treasury Notes and Bonds. Please feel free to contact me for details.
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 firstname.lastname@example.org.
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.