What’s Up, What’s Down: Spotlight on Indices
Comments for May 16, 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
COULD METALS ACTION SIGNAL A TOP FOR STOCK INDEX FUTURES?
INDICES: 5/16/11: Lower for the cash and dow futures along with the S&P’s and nasdaq but no changes technically as far as I can tell. All of the indices are still in long-term uptrends while consolidaing over the last couple of weeks in the same chart pattern as shown below forming potential tops. We must keep an eye on the dollar which has been retracing higher lately. The recent sharp break and choppier action than normal in the metals may also be a warning that the indices could be nearing their highs. Still, ‘it is what it is’ and the long-term-uptrend for the indicies continues to be higher overall. BUY SIGNALS FOR THE DOW, S&P’S AND NASDAQ. CALL FOR DETAILS!
But in early morning trading, the Stock Indices sector is showing slight weakness. My Futures HeatMap, a color-coded view of the eight futures market sectors, shows that the stock index futures, as of 8:30 am Central this morning (May 16), are down a composite 0.26%, with all five contracts which comprise the Group, trading lower for the day. To view the Heat Map, click, or type this link into your browser: https://www.markethead/2.0.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 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.