What’s Up, What’s Down: New BUY Signals
Comments for Thursday, February 11, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
FINANCIALS:
Higher closes Wednesday for the Eurodollars but lower for the bonds and notes again. The Eurodollars really haven’t gone anywhere since January 7th while the notes and bonds both closed lower after the dollar settled weaker. However, all of the financials are still in uptrends at this time but the bonds and notes are starting to form possible topping formations.
INDICES:
Today’s Economic Releases: BUSINESS INVENTORIES. INITIAL JOBLESS CLAIMS. RETAIL SALES. Slightly lower closes yesterday for the cash and Dow futures along with the S&P’s and Nasdaq but no changes technically ahead of several important reports on Thursday. All of the indices continue to look lower after a relatively quiet day.
The Presidents’ Day early closing and holiday trading hours schedule, for February 12-15, is posted on my website. Click or copy/pasting to your browser: https://www.zaner.com/3.0/market_information/hot_topics.asp.
Read 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.