S&P 500 Futures—The S&P 500 in the March contract is trading higher for the 3rd consecutive session up another 5 points at 3280 after settling last Friday in Chicago at 3235 up another 45 points hitting another all-time high as this gravy train continues to the upside.
At the current time I’m not involved, but I’m certainly not recommending any type of bearish position as I think 2020 will produce excellent percentage-wise returns for the stock market once again as the U.S economy added another 146,000 jobs and is the envy of the world and if you are long a futures contract continue to place the stop loss under the 10-day low as an exit strategy.
Tensions with the country of Iran this week sent the market sharply lower at one point only then to rally significantly as the technology sector is absolutely on fire as this market and palladium are the strongest trends to the upside as I still think there is significant room to run as I will look for some type of price pullback to enter into a bullish position therefor lowering the monetary risk.
CHART STRUCTURE: POOR
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
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