Weekly Futures Recap With Mike Seery

10-Year Note Futures

The 10-year note futures in the March contract settled last Friday in Chicago at 129/12 while currently trading at 129/03, experiencing a wild trading week with large price swings daily. In Wednesday's trade, prices traded as high as 130/06 before selling off rather dramatically as tensions with the country of Iran simmered down.

However, I will be recommending a bullish position if prices close above 129 /14 while then placing the stop loss at 127 / 29 as the risk is around $1,500 per contract plus slippage and commission. In my opinion, I do not think the Federal Reserve will not raise interest rates in 2020. That is a fundamental bullish factor towards higher prices ahead, coupled with the fact that the risk/reward is in your favor as volatility certainly has come to life. I don't think the problem with Iran is over with yet as there will be more skirmishes down the road.

If you take a look at the daily chart, the 10-year note has bounced off the 128/00 level on a half a dozen occasions as the yield is 1.82%. I think we can head back down to around the 1.50% level as you have to remember many countries around the world still have negative interest rates, so look to be a buyer.

TREND: MIXED - HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: INCREASING

Silver Futures

Silver futures in the March contract settled last Friday in New York at 18.15 an ounce while currently trading at 18.15 unchanged for the trading week, however, that doesn't tell you the whole story as in Wednesdays trade prices went as high as 18.89 before selling off on tensions with the country of Iran which have seemed to settle down.

I have been recommending a bullish position from around the 17.45 level and if you took that trade continue to place the stop loss under the 10-day low with now stands at 17.81 as an exit strategy as the chart structure is outstanding. Currently, I also have a bullish platinum recommendation as I took profits on the gold trade last Sunday. Still, I do believe the entire precious metal sector is headed higher as the tensions with Iran could resurface in a New York minute as that would send prices even higher, so stay long as the risk/reward remains in your favor. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Orange Juice Futures

Orange juice futures in the March contract is currently trading at 101.35 after settling last Friday in New York at 100.55 up slightly for the trading week still experiencing very low volatility.

I have been recommending a bullish position from around the 103.30 level, and if you took that trade, continue to place the stop loss under the multi-year low, which stands on December 6th at 97.90 on a closing basis only as the proper exit strategy. Volatility should start to expand to the upside as we enter the volatile winter season for the State of Florida, which could produce a frost that would decimate the orange crop, sending prices sharply higher. However, the 7/10 day weather forecast has ideal weather temperature, as that is why prices have been stuck in the mud. Juice prices are trading above their 20-day but still below their 100-day moving average as the trend is mixed at the current time, but I still do believe that the risk/reward is in your favor to take a bullish position.

I also have a bullish cotton recommendation as we were stopped out of the sugar trade yesterday as I still do believe the agricultural markets are amid bullish trends as I think the downside is limited, so stay long.

TREND: MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

Gold Futures

Gold futures in the February contract is sharply higher this Friday afternoon as the United States killed the number 2 leader of the country of Iran sending shockwaves throughout many sectors today. That sent gold up $23 at 1,552 an ounce after settling last Friday at 1,518up about $34 for the trading week. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Gold Futures

Gold futures in the February contract is currently trading at 1,516 an ounce after settling last Friday in New York at 1,480 up about $36 for the trading week hitting a 7-week high as the commodity markets are starting to follow the S&P 500 to the upside.

I have been recommending a bullish position from around the 1,495 level if you took that trade continue to place to stop loss under the 10-day low standing at 1,474 as an exit strategy as the chart structure will also improve next week as the risk will also be lowered. Gold prices are trading above their 20 and 100-day moving average telling you that the trend is to the upside with the next major level of resistance on the daily chart at 1,525 / 1,550 as that could possibly be tested in next week's trade. Gold is trading higher for the 4th consecutive session as

I also have a bullish silver trade as I think the commodity markets in 2020 will have a significant rally to the upside as historically speaking, prices look cheap. The U.S. dollar is hovering right near a 4 month low as that is a bullish factor towards higher gold prices as this is the 1st time in a while that the precious metals and stock market are moving higher in unison which is a terrific thing to see so stay long.

TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: AVERAGE

Silver Futures

Silver futures in the March contract settled last Friday in New York at 17.22 an ounce while currently trading at 18.01 up for the 6th consecutive session hitting a 7-week high.

I have been recommending a bullish position from around the 17.45 level, and if you took that trade, continue to place the stop-loss at 16.56 as an exit strategy. The U.S. dollar is trading right near a 4 month low as that is a fundamental bullish factor for the entire precious metal sector in the coming weeks ahead. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Silver Futures

Silver futures in the March contract is currently trading at 17.23 an ounce in a tranquil Friday afternoon in New York as the holiday markets are upon us as that generally lowers the volatility. I'm keeping a close eye on a possible bullish position as silver prices have been stuck in a very tight 6-week consolidation. If prices break the December 4th high of 17.41, I will be recommending a bullish position as I think the commodity markets in 2020 will experience significant rallies to the upside.

At the current time, silver is trading right at its 20-day but still below its 100-day moving average, which stands around the 17.59 level as I think we will probably go sideways for the rest of this month. However, I do expect the volatility to increase substantially in January.

I do not have any precious metal recommendations, but I do believe that platinum and palladium are still bullish and will head higher. I think silver will join the party eventually, so keep a close eye on this market as we could be involved soon as the risk/reward is in your favor due to the excellent chart structure.

TREND: MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

S&P 500 Futures

The S&P 500 in the March contract is continuing its bullish momentum ending the week on a positive note up another 15 points at 3227 after settling last Friday in Chicago at 3175 up over 50 points for the week and hitting another all-time high. This gravy train continues, and I see absolutely no reason to be short this market. Continue reading "Weekly Futures Recap With Mike Seery"

Weekly Futures Recap With Mike Seery

Hog Futures

Hog futures in the February contract settled last Friday in Chicago at 67.55 while currently trading at 69.60. I am now recommending a bullish position while placing the stop-loss below the contract low and low yearly standing at the August 5th low of 63.67 as the risk is around $2,500 per contract plus slippage and commission.

The United States and China agreed on a phase one trade agreement, which certainly should pick up demand for pork. China has lost 250 million hogs due to the swine flu as that is why you see hog prices trade higher over the last 2 consecutive sessions and historically speaking, prices look very cheap.

Hog prices are trading above their 20-day but still under their 100-day moving average, which stands around the 72.40 level as prices have been depressed for quite some time because we've had no agreement with China. Still, that situation has changed as I think the risk/reward is in your favor to take a bullish position. I think the 65 level will hold so play this to the upside while making sure that you risk 2% of your account balance on any given trade as the proper risk management strategy.

TREND: MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: HIGH

Live Cattle Futures

Live cattle futures in the February contract is sharply higher this Friday afternoon in Chicago up 250 points at 127.60, hitting a fresh contract high. Prices are reacting strongly because of the phase 1 trade agreement with China as most agricultural markets are higher across the board as that is an extremely bullish fundamental factor for higher prices ahead.
Continue reading "Weekly Futures Recap With Mike Seery"