What’s Up, What’s Down: Technically Bearish on Bonds and Natural Gas

Comments for Tuesday, February 23, 2010

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


Higher closes yesterday for the Eurodollars, unchanged for the notes and lower for the bonds. The Eurodollar continues in a sideways to higher trend since the middle January. The notes settled unchanged barely managing to not reverse and give me a sell signal while the bonds are still in a bear pennant. However, the notes still look weak on the charts.

Treasury Bond Chart

Treasury Note Chart


Crude and heating oil along with the RBOB had their highest highs and closes in a month but natural gas had its lowest low and close in a month. This pretty much tells the story with three of the energies in uptrends and one in a downtrend for now.

Crude Oil Chart

Natural Gas Chart

Read 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.

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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