Comments for October 8, 2009

By Rick Alexander
08 October 2009 @ 11:51 am EDT

LOOKING AHEAD TO THURSDAY BY REFLECTING BACK ON WEDNESDAY'S ACTION

Natural Gas futures in a Bull Pennant and the Financials still in an Uptrend.

ENERGIES: 10/08/09  Lower close Wednesday for crude and heating oil along with the rbob and natural gas. In spite of recent rallies in the energies my sell signals are still in place with crude, heat and the rbob ,making lower lows and highs since early August. Natural gas settled lower but is in a BULL PENNANT as shown below looking to move much higher, technically, if not fundamentally.

FINANCIALS: 10/08/09 Higher close yesterday for thenotes and bonds while slightly lower for the eurodollar but no changes technically again. The financials are still in uptrends which is normally unusual with the indicies in uptrends also.

IBTimes Commodity Commentaries

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