What’s Up, What’s Down: Focus on the Financials
Comments for Friday, October 30, 2009
Looking Ahead to Today by Reflecting Back at Thursday’s Price Action
FINANCIALS:
Unchanged settlement Thursday for the eurodollar but lower for the notes and bonds. The eurodollar equaled its CONTRACT HIGH AND CLOSE while the bonds and notes still look lower overall continuing in their respective resistance areas. The notes are also forming a larger potential topping formation at this time.
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.