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Is It Time To Take Profits In Stocks ?


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S&P 500 Futures--- The S&P 500 in the December contract settled last Friday in Chicago at 2589 while currently trading at 2641 hitting record highs this week once again as tax cuts look to be approved by the Senate in today's trade continuing its bullish momentum. I've been extremely bullish the equity markets for months as I still remain so, but I am advising some clients to take some profits at these levels which I rarely do as I think all of the euphoria is already reflected into this market, however I certainly am not recommending any type of bearish position as I believe 2018 will be bullish once again, but the easy money has been made.

The S&P 500 is trading far above its 20 and 100 day moving average telling you that the trend clearly is higher as today we experienced a 45 point trading range today due to the fact of Michael Flynn possibly testifying against Trump about the Russia collusion sending prices sharply lower only to come back significantly as the trend still remains higher, but if you decide to take profits I do not have a problem with that depending on your situation.

If you think prices are moving higher continue to place the stop loss under the 10 day low standing at 2567 and in Tuesdays trade will be raised to 2579 and in Wednesday's trade that will be raised once again to 2589 as the chart structure is finally starting to improve as I still remain bullish the entire equity market and commodity markets in general. TREND: HIGHER CHART STRUCTURE: --IMPROVING 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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