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Comments for February 23, 2010

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

Technically Bearish on Bonds

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. 

Read the balance of my morning comments, including the Grains, Metals and Currencies at my website. For my complete coverage, visit my commentary page at www.markethead.com
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 ralexander@zaner.com or call toll-free (888) 281-4158.
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.