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Will Tax Cuts Push Stocks Even Higher ?


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S&P 500 Futures---- The S&P 500 futures in the December contract settled last Friday in Chicago at 2579 while currently trading at 2580 as volatility has finally entered this market due to the fact of the possibility that the tax cuts may have been delayed, but the House of Representatives passed that yesterday as we will have to see what the Senate will do in the coming weeks ahead.

If you are long a futures contract the stop loss remains at 2562 on a closing basis only as prices were below that level at one point only to close above that critical area while then experiencing a tremendous rally in Thursdays trade so continue to place the stop loss at that price & let's see what next week trade will bring.

Next week is Thanksgiving which generally is very quiet & positive as I think that will be the exact same situation this year as prices still are above their 20 and 100 day moving average, but we need to break the November 9th high of 2594 to continue the bullish momentum as I do think the tax cuts are not only bullish the S&P 500 but bullish the commodities across the board & if you look at Friday's action we had breakouts in many different sectors as this is good news in my opinion as we head into 2018 and as I've talked about in many previous blogs I will not take any bearish positions.

The tax cut for corporations is massive as it will be lowered to 20% which means these companies will be making even more money than they are at the present time as there is still room to run to the upside in my opinion.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---INCREASING

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

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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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