Impressive Day For S&P 500

Impressive Day For S&P 500
Impressive Day For S&P 500

S&P 500 Futures—The S&P 500 in the June contract finished lower for the 3rd consecutive session up another 5 points at 2947 despite the fact that Google reported earnings and finished down almost $100 coupled with the fact that there could be a civil war erupting in the country of Venezuela, however the S&P 500 still finished higher.

If you have been following any of my previous blogs you understand that I am bullish the equity market as we await  Apple Computers earnings after the bell which will certainly send shock waves into the market in tomorrow’s trading session.

If you are long a futures contract I would place the stop loss under the 2 week low which stands at 2889 as an exit strategy as I think we will crack the 3000 level in the coming days ahead as I see no reason to be short this market as the gravy train should continue for the rest of 2019.

The 10 year note rallied today on fears of the Venezuelan situation accelerating as the yield stands at 2.50% which is exceptionally low for such a robust economy as that is just adding more fuel to the fire so stay long.

TREND: –HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

 

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