What’s Up, What’s Down: Dow Futures in Spotlight

Comments for Friday, July 30, 2010

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


Lower closes yesterday for the cash and Dow futures along with the S&P’s and Nasdaq this time but no changes technically. This morning the market will have to grapple with The GDP 2nd Quarter estimate and the Unemployment Cost Index. I’m standing aside for all of the indices although I have a buy signal for the Dow futures. The S&P’s along with the Nasdaq are neutral for me at this time although they’re forming potential large bottoms. However, I never trade off of potentials!

Emini Dow Chart

Emini S&P Chart

Emini Nasdaq Chart

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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.

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.

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