What’s Up, What’s Down: Indices and Metals in Focus as Bulls Fight Back
Comments for Tuesday, September 14, 2010
Looking Ahead to Today by Reflecting Back at Monday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
INDICES:
Higher closes Monday for the cash and Dow futures along with the S&P’s and Nasdaq again. The Dow, S&P’s and Nasdaq broke out of small bull pennants to the upside with the Nasdaq giving me a BUY SIGNAL with the Dow and S&P’s close at this time. The Dow made its best close since August 10th, the S&P’s August 9th and the Nasdaq the middle of May. BUY SIGNAL FOR THE NASDAQ. CALL FOR DETAILS!
METALS:
Higher closes yesterday for copper, silver, gold and platinum this time. Copper still has a DOUBLE TOP in place but remains in a strong looking uptrend overall with little resistance up to the 36000 area basis the December contract. Silver made its best high and close since July 2008 while gold closed slightly higher with the continuation of silver/gold spreading with the recent move higher in the indices. Platinum closed higher still needing to hold the 15000 area while basically trading sideways since the beginning of April. However, it now seems to be forming a potential bottom. BUY SIGNALS FOR COPPER, SILVER AND AND GOLD. CALL FOR DETAILS!
There has been a lot of talk and advertising for Gold exchange traded funds (ETFs). Do you understand the difference, from a trader’s point of view, between gold futures and gold ETFs? Download my comparative evaluation report at https://www.zaner.com/3.0/ralexGold.asp.
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.