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S&P 500 Lower 2nd Day In A Row


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S&P 500 Futures--- The S&P 500 in the March contract traded lower for the 2nd consecutive session as I have not been able to say that in about a month as that's how bullish this market has been currently trading down 5 points at 2633 as I wrote in previous blogs last week I was advising clients to get out around the 2640 level as euphoria about this market is overextended in my opinion.

I am certainly not recommending any type of bearish position as I still remain bullish, however I think the easy money has been made and there's too many people on the bullish side of this market at the present time so my advice is to step aside and see what develops.

If you still remain bullish this market place the stop loss under the 10 day low standing at 2589 and in 2 days that will be raised to around the 2600 level as we could have had a possible spike top in yesterday's trade as the Dow Jones was up over 300 points, but then sold off towards the close as the classic buy the rumor and sell the fact may have taken place.

The tax cuts were passed as that will come into law before Christmas,however all of the good news has already been reflected into the equity markets in my opinion as I still think 2018 could see some remarkable gains once again, but there is no reason not to take something off the table at this time in my opinion which I rarely recommend.

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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