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Equity Futures Finish Higher Despite Choppy Trade

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Aug 4, 2009.

  1. futuretrends24

    futuretrends24 New Member

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    Today’s sample of Futures Analysis from FuturesHound.com


    Although U.S. equity markets closed higher, today’s day session was one of the choppiest seen in some time as traders seemed reluctant to print the high tick. Today’s trading action is a sign that these indices may be getting tired at current levels and may have to break to attract more aggressive buyers. Technical traders should begin to watch for a daily closing price reversal top.

    September Treasury Bonds and Treasury Notes finished lower today but off their lows. As long as equity markets continue to rally expect pressure on the Treasuries. Last week’s reversal bottom was expected to be an indication of a possible top in stocks, but so far there has not been a confirmation of the bottom. Look for sideways to lower trading unless the equity markets make a dramatic move down.

    The September Canadian Dollar posted a closing price reversal top. This could lead to a 2-3 day break if there is a follow-through move to the downside. The rally in this currency is most likely overbought as traders may have become concerned that high prices may have a negative effect on the Canadian economy.

    Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

    Disclaimer: Trading on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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