S&P 500 Futures—The S&P 500 in the September contract settled last Friday in Chicago at 2919 while currently trading at 2875 down about 45 points for the trading week experiencing incredibly high volatility as that situation is going to become more violent in the coming months ahead in my opinion.
At the present time I’m not involved as I’m advising clients to avoid this market as it is like flipping a coin on a daily basis with no trend insight as there are better markets with a lot less risk at the current time.
The S&P 500 is trading below its 20 and 100 day moving average as the trend is to the downside as the month of August historically speaking and be very shaky and that is exactly what’s occurring at the present time as I will wait for the chart structure to improve which could take several more weeks.
Bond markets across the world are spooking the equity market as there are now 12 countries with a negative interest rate as the 10-year note which I do have a bullish recommendation which is currently yielding 1.50% & looks to go much lower in my opinion, however eventually this will be bullish stock prices but at the current time the bond market might be telling you that a recession is around the bend. At the current time I am bearish most of the commodity markets except for the precious metals as weak demand continues to hamper prices.
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
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
If you’re looking to open a Trading Account click on this link www.admis.com
There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.