What’s Up, What’s Down: Down Days Conitnue for Gold

Comments for Thursday, September 10, 2009

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


Higher closes on the 9th for the cash and DOW futures along with the S&P’s and Nasdaq for the 4th trading session in a row. All of the indices continue to be in uptrends with the S&P’s and Nasdaq making a new recent highs and closes. No matter what you read and hear the indices are in bull markets until further notice. Knowing why is not always importance since, most of the time, we find out after the fact.

S&P 500 Chart


Higher close yesterday  for platinum but lower for copper, gold and silver. All of the metals continue to be in uptrends with copper and silver in small BULL PENNANTS and gold in a small BULL FLAG. Platinum made a new recent high and close.

Platinum Chart

Free download of “25 Proven Options Strategies” available at: https://www.zaner.com/3.0/ljs1.asp

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.

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.