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S&P 500 Hits 4 Month High


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S&P 500 Futures--- The S&P 500 in the September contract is trading higher for the 2nd consecutive trading session up 5 points at 2803 breaking the critical 2800 level hitting a 4 month high as this is the strongest market at the current time.

I'm recommending a bullish position from today's price level while placing the stop loss under the 10 day low standing at 2700 as the risk is around $5,100 per contract plus slippage & commission at this trade should only be taken with a large trading account as the risk is high.

The chart structure will start to improve in next week's trade therefore the risk will be lowered as the NASDAQ 100 and the Russell 2000 are at all-time highs once again today as I think the S&P will catch up as its all-time high was touched on January 29th at 2889 as there is more room to run to the upside in my opinion.

This is probably the only market that has not been affected by the Trump tariffs as the commodity markets have been absolutely decimated, however strong earnings and large corporate stock buybacks continue to support prices in the short-term as the fundamental and technical picture remains very strong in my opinion.

The S&P 500 is trading above its 20 and 100 day moving average telling you the trend is to the upside as we are in the midst of earnings season as volatility should start to increase as it still remains relatively low so play this to the upside and if the risk is too high wait for some type of price retracement before entering into a bullish position.

TREND:---HIGHER

CHART STRUCTURE: POOR---IMPROVING

VOLATILITY---LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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