What’s Up, What’s Down: Outlook for Energies and Stock Indices
Comments for Monday, August 9, 2010
Looking Ahead to Today by Reflecting Back at Friday’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.
ENERGIES:
Lower closes last Friday for crude and heating oil along with the rbob and natural gas again. Crude had a good-size trading range closing down while the heat had a failed bull pennant but good support below 2100. The rbob had a huge range now at the upper end of a strong support area while natural gas made its worst low and close in over two weeks. Now the gas is back in its last but good support area. BUY SIGNALS FOR CRUDE AND HEATING OIL. CALL FOR DETAILS!
INDICES:
Higher closes on the 6th for the nasdaq while lower for the cash and dow futures along with the S&P’s. Not bad action after a worse than expected unemployment number. The indices continue to be in an uptrend since the beginning of July with the S&P’s still close to a buy signal. BUY SIGNALS FOR THE DOW FUTURES AND NASDAQ. 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.