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.
I'm not involved, and I'm advising clients to avoid this market as it is like flipping a coin daily 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 August historically speaking and be very shaky and that is precisely what's occurring. 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% and 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.
I am bearish most of the commodity markets except for the precious metals as weak demand continues to hamper prices.
CHART STRUCTURE: POOR
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