What’s Up, What’s Down: Treasury Prices Lower
Comments for Friday, July 24, 2009
Looking Ahead to Friday by Reflecting Back on Thursday’s Price Action
FINANCIALS:
Lower closes yesterday for the eurodollar, notes and bonds again helped by the indices closing sharply higher. The eurodollar is still in a strong uptrend while the bonds have not been acting well lately and are close to a sell signal but not quite with 11520 area basis the September contract being important to hold. The notes also are close to a sell with the buy signal still in tact at this time. Long term, however, is still down for both the notes and bonds.
See 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.