Comments for Tuesday, November 2, 2010
Looking Ahead to Today by Reflecting Back at Monday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
[FOMC Meeting begins today] Higher closes for the notes, unchanged for the Eurodollars while lower for bonds covering all bases ahead of the first day for the FOMC meeting. The Eurodollars have flattened out as shown below settling at the the same price(CONTRACT HIGH CLOSE) for the sixth time. The notes settled higher and the bonds lower both still in uptrends but looking toppy at this time. Don’t forget about the key reversal made in the notes August 10th. All of this means that I’m continuing to stand aside for now.
Slightly higher for cash and dow futures along with the S&P’s but slightly lower for the nasdaq. All of the indices continue to look higher with the nasdaq in a small BULL PENNANT. BUY SIGNALS FOR THE DOW, S&P’S AND THE NASDAQ. CALL FOR DETAILS!
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 firstname.lastname@example.org.
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.