What’s Up, What’s Down: Roll-Over Begins for Stock Index Futures

Comments for Thursday, June 10, 2010

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

Stock Index Futures June/September Roll-Over Begins Today, June 10! Currency roll-over began last Monday (June 7).

INDICES:

Lower closes yesterday for the cash and DOW futures along with the S&P’s and Nasdaq but no changes technically. All of the indices are still in downtrends overall but be careful of potentially sharp corrections because the sentiment seems to be bearish by most of the so-called experts!. SELL SIGNALS FOR THE DOW, NASDAQ AND S&P’s. CALL FOR DETAILS!

Emini S&P 500 Chart

CURRENCIES:

Higher closes Wednesday for the Canadian and Aussie Dollar along with the British Pound, Euro Fx and Japanese Yen while. Conversely, lower for the dollar index. The euro and franc continue to look lower overall but I see some potential bottoming signs in a few of the other currencies. The yen settled higher again looking like it’s forming a nice base and should continue to move higher overall. The Canadian Dollar closed higher again still trying to form a potential bottom with 9669 a key price to watch. The pound also moved higher with 14772 a key price to watch while the Aussie Dollar also closed higher with 8448 its price to key tabs on while form a possible bottom at this time. The dollar index settled lower this time but still in a strong uptrend overall. BUY SIGNAL FOR THE DOLLAR INDEX. SELL SIGNALS FOR THE EURO FX,SWISS FRANC, BRITISH POUND,CANADIAN AND AUSSIE DOLLAR. CALL FOR DETAILS!

Japanese Yen Chart

Canadian Dollar Chart

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. 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.

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