Comments for February 23, 2010

Looking Ahead to Tuesday by reflecting back on Monday's trading action

Technically Bearish on Bonds and Natural Gas

FINANCIALS: 02/23/10 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.

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ENERGIES: 02/23/10  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.

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