Stay Long The S&P 500

Stay Long The S&P 500
Stay Long The S&P 500

S&P 500 Futures—The S&P 500 in the June contract is currently trading at 2927 after settling last Friday in Chicago at 2889 up about 38 points for the trading week continuing its bullish momentum as the NASDAQ-100 hit an all-time high this week.

Microsoft and Amazon reported outstanding earnings as that has helped push up prices here in the short-term as fundamentally and technically speaking this market has everything going for it at the current time as I still think there is significant room to run to the upside.

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 the chart structure is outstanding at the present time due to the fact of extremely low volatility.

Earnings season is in full swing so we will be receiving fresh fundamental news on a daily basis as extremely low interest rates in the United States continue to support prices as it looks like the Federal Reserve will not raise interest rates in 2019 so stay long.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

 

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