Author: The INO.com Team

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 are trading lower by $3 today breaking a 5-day winning streak hitting a 7 month high yesterday continuing its bullish momentum. Gold reacted positively earlier in the week off the Federal Reserve comments stating that basically, they will not raise interest rates until probably later this year sending stock prices & many commodities higher across the board. I have been recommending a bullish position originally in the February contract from around the 1,252 level as you had a roll over into the April contract due to expiration as prices are currently trading at 1,327 an ounce. As an exit strategy, I would place the stop loss under the 10-day low which was hit on January 24th at 1,281 as the chart structure will not improve for another three trading sessions so you will have to accept the monetary risk at this time. Gold prices are trading far above their 20 and 100-day moving average as clearly the trend is higher as we've taken out major resistance as well as I still think prices could trade up to the 1,400 level as demand has come back into this commodity.
TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →

Booming Jobs Report Kicks Off February

Posted on by The INO.com Team

Hello traders everywhere. The U.S. economy added 304,000 jobs in January, according to data released by the Bureau of Labor Statistics. The market was anticipating the U.S. economy to have added 170,000 jobs in January. The report follows a 35-day U.S. government shutdown, the longest in history. It also marks the 100th straight month of jobs growth. But the reaction by Wall Street was muted with the S&P 500 and NASDAQ trading in negative territory on the day. However, the DOW was hanging on to positive gains heading into late afternoon trading.

We closed out January on a high note with all three major indexes posting monthly gains over 7%. The S&P 500 checked in with an increase of +7.8%, DOW +7.1%, and the big winner was the NASDAQ with a gain of +9.7%. All three indexed posted weekly gains after posting losses last week.

Booming Jobs Report

The U.S. Dollar lost -.45% for January and also lost -.27% for the week closing out a tough January for the greenback.

After a tough end of the year, crude oil bounced back with a weekly gain of +3.36% to finish out the month strong and to push it's monthly gain to +16.40%, a truly impressive comeback after losing over -9% in December.

Gold's performance wasn't quite as good the overall market on a monthly level posting a gain of +2.58%, but it was in line with the major indexes on a weekly level posting an increase of +1.12% at the end of the week.

Bitcoin suffered its sixth straight month of losses losing -7.9% in January. That happens to be a new record for Bitcoin. It also lost another -3.1% on the week. I don't see much light at the end of the tunnel for Bitcoin. Is it dying a slow death or will it make a comeback?

Key Levels To Watch Next Week:

Every Success,
Jeremy Lutz
INO.com and MarketClub.com

Wall Street Surges Higher On Fed News And Earnings

Posted on by The INO.com Team

Hello traders everywhere. Stocks were already performing well on the day with the DOW getting a large boost from the like of Apple and Boeing, but they received another boost after the Federal Reserve kept interest rates unchanged and stated it will be patient with raising rates moving forward.

In a statement, the Federal Reserve said: "The Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate." The Fed added it expects to operate with "an ample supply" of bank reserves. The statement also dropped the word "gradual."

federal

Boeing shares jumped over 6% after its quarterly earnings easily beat expectations. The company also posted annual revenue of more than $100 billion for the first time and gave strong earnings guidance for 2019. Continue reading "Wall Street Surges Higher On Fed News And Earnings" →

Fed Doves Take Flight

Posted on by The INO.com Team

A ‘wild card’ segment has been added to NFTRH reports because I wanted the freedom to go out of bounds in any direction, beyond our usual areas of disciplined coverage. Last week it was a look at the Semiconductor sector.

This week it is Fed policy with a side trip down memory lane, trying once again to illustrate why today is not at all like the ZIRP era and why the post-2015 re-connect between the Fed Funds rate and the stock market does not bode well for stocks, assuming the Fed really is going soft.

Excerpted from tomorrow’s edition of Notes From the Rabbit Hole, which will also include loads of actionable analysis along with the more theoretical stuff below…

Fed Doves Take Flight (But We Are Not in Kansas Anymore)

Wise guys trading Fed Funds futures see no more rate hikes in 2019, and a few even imagine a rate cut before year-end. Here are the projections for the next 3 meetings, showing an overwhelming view that the Fed will hold the current 225-250 target rate.  Continue reading "Fed Doves Take Flight" →

Weekly Futures Recap With Mike Seery

Posted on by The INO.com Team

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 February contract settled last Friday in New York at 1,282 while currently trading at 1,298 up about $16 for the trading week looking to crack the critical January 4th high of 1,300 in my opinion. I have been recommending a bullish position from around the 1,252 level and if you took that trade continue to place the stop loss on a closing basis only at 1,278 which is also the 2-week low. Gold prices are still trading above its 20 and 100-day moving average as the trend remains higher, so I also have a bullish recommendation in platinum as we were stopped out of the silver trade earlier in the week which is disappointing as silver is sharply higher in today's trade. The U.S. dollar this Friday afternoon is down 70 points as that is undoubtedly helping gold and the entire precious metals rally sharply today so stay long and continue to place the proper stop loss as I think 1,350 could be in the cards relatively soon. Demand is starting to come back into gold as large money managed funds continue to be buyers as I believe a secular bullish trend is underway.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →