SubscribeDaily Futures Commentary September 25, 2009
Friday, September 25, 2009
U.S. Equity markets are expected to open slightly better following yesterday’s hard sell-off. Bargain hunters are boosting equity markets overnight, but the tone has definitely turned a little more bearish since earlier this week. The NASDAQ may lead the markets lower because of bad earnings news from RIMM. Some investors expect the negative tone to lead to profittaking selling pressure on other major technology stocks.
Technically, the stock indices are in a position to form weekly reversals down. This would be a strong indication that a major top has been formed and could set up sharply lower markets next week.
Weakness in the equity markets could trigger spillover buying in the Treasury markets as traders seek the safety of the T-Bonds and T-Notes.
A slightly weaker Dollar could lead to early morning strength in the precious metals. December Gold and December Silver are called steady to better. An early rally is likely to be short-covering because yesterday’s sell-off turned the main trends to down in both of these markets. Traders are also becoming concerned that a trade war with China could lead to less demand for both …
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