S&P 500
2141.99
-4.11 -0.19%
Dow Indu
18057.23
-37.60 -0.21%
Nasdaq
5252.74
-4.75 -0.09%
Crude Oil
44.59
-1.34 -2.94%
Gold
1329.585
-5.460 -0.41%
Euro
1.120485
-0.003915 -0.35%
US Dollar
95.593
+0.290 +0.37%
Weak

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,310 an ounce while currently trading at 1,345 up about $35 for the trading week remaining extremely choppy as prices have gone nowhere over the last 3 months. Earlier in the week the Federal Reserve made comments that they will not raise interest rates as prices held major support around the 1,310 level and now looks to retest the upper end of the trading range around 1,360 as I’m currently sitting on the sidelines waiting for a trend to occur. Gold prices are trading above their 20 and 100-day moving average telling you the short-term trend is higher as the commodity markets in general in my opinion look to be bottoming. I see the next move to the upside across-the-board as the Federal Reserve, in my opinion, will not raise rates in 2016 as they want to see asset prices go higher. [Read more...]

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

NASDAQ 100 Futures

The NASDAQ 100 in the December contract settled last Friday in Chicago at 4667 while currently trading at 4803 up about 140 points for the trading week. I was originally recommending a short position in the September contract rolling over into the December contract while placing my stop loss above the 10-day high which stands at 4834 as the original risking around $1,600 per contract plus slippage and commission. This trade has been on a seesaw ride originally I was losing instantly on the trade & then winning now losing once again. However, I will continue to place the proper stop loss and move on if I am stopped out as I hate selling the indices as I think they are propped up by the Federal Reserve. The NASDAQ 100 is trading above its 20 and 100-day moving average telling you that the short-term trend is higher. We are right near all-time highs once again despite the fact of many fundamental factors telling you that prices are way too high for this type of economy, but as a trader, you must have an exit strategy. [Read more...]

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,323 an ounce while currently trading at 1,336 as I was recommending a short position getting stopped out in Tuesday's trade around the 1,347 level as gold prices rallied sharply off of the monthly unemployment number which was released last Friday. I’ve been recommending a short position from around 1,333 and added more contracts around the 1,320 level as this was a frustrating trade as prices traded as low as 1,307 earlier in the week as this market remains very choppy as I’m now sitting on the sidelines looking at other markets that are beginning to trend. Gold prices continue to react off what the Federal Reserve says and what the most recent rumor developing so avoid this market at present as there is no trend as who knows where interest rates are going at this time. [Read more...]

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,326 an ounce while currently trading at 1,322 down slightly for the trading week. I’ve been recommending a short position from the 1,333 level and then adding more contracts around 1,320 as I still remain bearish while placing my stop loss above the 10-day high which stands at 1,346 as the chart structure has improved tremendously this week. Gold prices have hit 1,306 on 3 different occasions, and if that is broken, I do believe the all-out bear market could get ugly to the downside as prices are still trading below their 20 and 100-day moving average telling you that the trend is lower. Gold prices reacted sharply higher off of the construed negative monthly unemployment report adding 150,000 jobs which were slightly below consensus estimates. However, the U.S dollar has reversed as gold prices were about $17 higher, but currently only up about $5 which happened last Friday as well. The chart structure in gold will not improve for another 5 days, so you’re going to have to accept the monetary risk at this point. [Read more...]

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Crude Oil Futures

Crude oil futures in the October contract are trading higher by 50 cents this Friday afternoon in New York after settling last Friday at 49.11 while currently trading at 47.85 down about $1.50 for the trading week still hovering right near a 7 high. Oil prices are trading above their 20 and 100-day moving average telling you that the short-term trend is higher as I’m currently sitting on the sidelines in this commodity as the chart structure is very poor at present as I’m waiting for the monetary risk to be lowered so I will be patient. The market today reacted off the Federal Reserve’s announcement that they probably will not raise interest rates sending many commodities higher while also sending the U.S dollar slightly lower today as it certainly looks to me that interest rates are going to be low for a long period of time. However, oversupply issues of crude oil is what is hampering this market at the current time. [Read more...]

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