What’s Up, What’s Down: Mixed Signals for Treasury Futures

Comments for Thursday, January 14, 2010

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


Lower closes yesterday for the Eurodollars, notes and bonds. The Eurodollar continues to be in an up-trend overall. The bonds made a new recent high before selling off sharply to settle lower while the notes double topped before also selling off to close lower both financials having reversal type action. Still there are no changes technically which could be seen as a little confusing with the tow financials giving me a buy signal and one a sell. However, that will all work out eventually. What it tells me is that there is no strong direction either way at this time. I hold technical Buy Signal for Bonds, but a Sell Signal on the Notes. Please feel free to contact me for details.

Treasury Bond Chart

Treasury Note Chart


Higher for silver, gold and copper but lower for platinum. All of the metals continue to be in up-trends with no changes technically except for platinum which gapped lower causing an ISLAND REVERSAL as seen below. Copper is still in a strong uptrend overall while consolidating overall. Gold should continue working higher overall but very choppy action lately. Platinum gapped lower and is unable to rally back to unchanged but has been long overdue for some kind of retracement.

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.