rounded corner
rounded corner
top border

S&P 500 Lower Breaks 4 Day Winning Streak


Bookmark and Share

S&P 500 Futures---The S&P 500 in the December contract is breaking a 4 day winning streak down 5 points at 3113 blamed on profit taking in a very quiet trade in Chicago this Monday afternoon. The volatility at the current time is relatively low especially at these elevated prices as this market continually grinds higher on a weekly basis as I still think there is room to run to the upside.

I have been recommending a bullish position from around the 3006 level and if you took that trade continue to place the stop loss under the 10-day low standing at 3063 as an exit strategy, however in Wednesday's trade that will be raised to 3070 as the chart structure is improving on a daily basis therefor the monetary risk will also be reduced.

The S&P 500 is trading far above its 20 and 100 day moving average as the trend remains strong to the upside as money flows continue to come into U.S equities as this is the only game in town in my opinion as the bond market and European stocks are not experiencing the gains that we are witnessing in this sector so stay long and continue to place the proper stop loss as my next target is the 3200 level which I think can be touched by Christmas time.

TREND: HIGHER

CHART STRUCTURE: 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

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.



Recent articles from this author



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.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2019 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy