S&P 500 Continues Strong Trend

S&P 500 Continues Strong Trend
S&P 500 Continues Strong Trend

S&P 500 Futures—The S&P 500 in the June contract settled last Friday in Chicago at 2896 while currently trading at 2903 as prices have broken out to levels that we have not seen since early October.

If you are long a futures contract continue to place the stop loss under the 2 week low which now stands at 2844 as the chart structure will improve on a daily basis as I see no reason to be short this market. In my opinion I do believe prices will break the all-time high which was hit on September 21st at 2961 as fundamentally and technically speaking this market remains very strong.

The volatility at the current time is very low as the Vix or the fear index as it’s popularly known as is trading at 14 which historically speaking is low and tells you higher prices are expected.

The S&P 500 is trading above its 20 and 100 day moving average as the trend remains strong to the upside as we were only about 2% away from making a fresh all time high & if we can get any type of bullish surprise next week with some major corporations that could just add more fuel to the fire.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: LOW

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