What’s Up, What’s Down: Spotlight on Indices
Comments for November 21, 2011
Looking ahead to Monday by reflecting back on Friday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
FAILED BULL PENNANTS??
STOCK INDEX FUTURES: 11/21/11 Higher closes Friday for the cash and dow futures but lower for the S&P’s and nasdaq. All of the indices need to be watched closely as the Greece story continues to unfold along with Italy. However, unless Greece, along with several other governments, get to the root of their financial problems and come up with a good plan to turn their fortunes around, I don’t trust the indices. Meanwhile, I did get a SELL SIGNAL for the nasdaq on Thursday while coming close in the other indices. Also, failed bull pennants for all three didn’t help. I had mentioned that the indices feel toppy to me and nothing has changed my opinion so far. BUY SIGNALS FOR THE DOW AND S&P’S. SELL SIGNAL FOR THE NASDAQ. CALL FOR DETAILS!
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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 or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.