Looking Ahead to Tuesday by reflecting back on Monday's trading action
Eurodollar triple top still in place, and another new contract high in Feeder Cattle
FINANCIALS: 03/09/10 Higher closes yesterday for the eurodollar while lower for the notes and bonds. The eurodollar continues be be in a gradual long-term uptrend with a TRIPLE TOP still in place. The recent sell-off in the bonds along with a DOUBLE TOP in the June contract has kept my buy signal in place while the notes continue to be a buy whole showing some signs of losing steam. The notes and bonds have been holding up well leading me to believe its because people don't think the stock market rally will last and want their funds to be in the safest place possible. BUY SIGNAL FOR THE NOTES. SELL SIGNAL FOR THE BONDS. CALL FOR DETAILS!
MEATS: 03/09/10 Higher closes Monday for live and feeder cattle but lower for lean hogs and pork bellies. The cattle settled sharply higher with its highest high and close since May '09 while the feeders continue moving higher making another new CONTRACT HIGH AND CLOSE for the fifth consecutive trading session. The beef market continues to be be very strong overall with the feeders leading the way no matter which way the corn is headed. Hogs settled lower again whilie, so far, its having a small retracement with support in the April contract at the 7000-7100 area. Bellies settled lower for the fourth consecutive trading session but now is in a support area if that means anything for this commodity! BUY SIGNALS FOR LIVE AND FEEDER CATTLE, HOGS AND PORK BELLIES. CALL FOR DETAILS!
REMINDER: March/June Currency Futures Rollover began Monday, March 8!!