Comments for September 8, 2009

By Rick Alexander
08 September 2009 @ 10:34 am EDT

FINANCIALS: 09/08/09 Higher closes on the 4 th for theeurodollar but lower for thebonds andnotes with no changes technically. The bullish eurodollar made a new contract high and close while the bonds fell to a support area causing failed BULL PENNANTS for the bonds and notes but stillcontinuing to look higher overall. Buy Signals continue for Bonds and Notes.

 

INDICIES: 09/08/09 Consumer Installment Credit released this morning. We saw higher closes on Friday for the cash and dow futuresalong withtheS& P's andnasdaq again. All of the indices continue to be in uptrendsvery choppy overall but still in uptrends in spite ofmore and more traders turning bearish which should mean there will be at least one fake out rally if the bears start to take heavy short positions leaving a vacuum overhead. We could be in this fake-out rally now but there is no way to know for certain.

 

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