What’s Up, What’s Down: Higher Dow Futures

Comments for Monday, November 24, 2008

Looking Ahead to Today By Reflecting back at Friday’s price action

INDICES:

Sharply higher closes on Friday for the cash and Dow futures, along with the S&P’s and Nasdaq, as the indices rallied sharply near the close. All of the indices made new contract lows before settling higher in reversal type action. All are still in major downtrends but a few bailouts could lead to good size retracement rallies.

S&P 500 Futures Chart

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.