Stocks Higher On Excellent U.S Economy

Stocks Higher On Excellent U.S Economy
Stocks Higher On Excellent U.S Economy

S&P 500 Futures—The S&P 500 in the June contract is trading higher for the 2nd consecutive session up another 4 points at 2945 as the gravy train continues to the upside as investors are awaiting the highly-anticipated quarterly earnings report from Google which will be released after the Bell.

The S&P 500 is clearly the strongest trend to the upside out of all of the commodity markets as the majority remain in bearish trends, however money flows continue to go into U.S equities and I don’t think that’s going to end anytime soon. I am very bullish the stock market as I’ve written about it on multiple occasions as I still think we will break the all time highs possibly in tomorrow session as there is still significant room to run to the upside as fundamentally speaking the U.S economy is firing on all cylinders showing a 3.2% first-quarter GDP which was considered exceptional.

The S&P 500 is trading far above its 20 & 100 day moving average as the trend is getting stronger on a weekly basis if you are long a futures contract continue to place the stop loss under the 2 week low standing at 2889 as an exit strategy as I see no reason to be short.

 

TREND: –HIGHER

CHART STRUCTURE: SOLID

VOLATILITY: LOW

 

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