S&P 500 Futures—The S&P 500 in the March contract is trading higher by 8 points at 3296 hitting another all-time high as the trade agreement with China has been cemented today as that is certainly a very bullish factor for the U.S economy which is the envy of the world and should continue in 2020.
At the current time I am not involved, but I certainly believe higher prices are ahead as I see absolutely no reason to be short this commodity as stocks & palladium are the 2 strongest trends to the upside in the world at this time and if you are long a futures contract stay long in my opinion.
The S&P 500 is trading far above its 20 and 100 moving average as this trend is very strong to the upside as tensions with Iran have eased while earnings season is upon us and has been very strong as I believe there could be a 20% gain in U.S equity prices come year end. Another bullish factor for higher stock prices is the fact that the Federal Reserve most likely will not raise interest rates in 2020 as historically speaking fighting the trend and trying to pick a top is very dangerous while trading with the path of least resistance is the way to go over the course of time.
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