What’s Up, What’s Down: New BUY Signals for Treasuries?
Comments for Tuesday, February 9, 2010
Looking Ahead to Today by Reflecting Back at Monday’s Price Action
FINANCIALS:
Lower closes on Monday for the Eurodollars, bonds and notes. The Eurodollars made their lowest close since January 7th but really haven’t gone anywhere since the above mentioned date while being in a bull market long-term. The bonds and notes settled lower but are both in up-trends both giving me BUY SIGNALS on Friday.
ENERGIES:
Higher closes yesterday for the crude and heat along with the rbob while lower for natural gas. The crude, heat and rbob settled higher for the second consecutive trading session but are still in down-trends overall. Gas rallied early into the heart of a good resistance area but then sold off sharply to close near its session’s lows needing to hold the 5400 area basis the March contract.
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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.
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