The Fed talked a tough game yesterday about possible interest rate increases. Interest rate sensitive sectors got stampeded today threatening a possible end to the 7-year charge. We look at some key market setups and option trades for the next move...
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Plan Your Trade, and Trade Your Plan,
Todd Gordon
The stock market has headed higher after a sluggish start this morning. All three major averages have bounced back into green territory late this morning, with financial shares leading the way as investors are awaiting the release of the Fed minutes this afternoon and looking for any clues of a June interest rate hike.
Gold (FOREX:XAUUSDO) has pulled back and is trading lower coming under pressure from a U.S. Dollar (NYBOT:DX.M16.E) rally that has pushed it to a new 2 week high.
Key levels to watch this week: Continue reading "Stocks Bounce Ahead Of Fed Minutes"
The Federal Reserve will release their minutes from April's FOMC meetings on Wednesday at 2 p.m. The notes should shed some light on whether they are leaning towards raising interest rates or leaving them as is again.
Even though there hasn't been any recent public comments from Fed Chair, Janet Yellen, or Stanely Fischer, several regional Fed presidents have said as recently as last week that a move could be possible in June or July. Keep an eye out as Yellen speaks at Harvard University on May 27th and Fischer delivers remarks Thursday in New York.
What do you think?
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Key levels to watch this week:
S&P 500 (CME:SP500): 2,099.89
Dow (INDEX:DJI): 18,084.66
NASDAQ (NASDAQ:COMP): 4,915.00
Gold (FOREX:XAUUSDO): 1,264.34
Crude Oil (NYMEX:CL.M16.E): 45.75
U.S. Dollar (NYBOT:DX.M16.E): 95.10
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
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 in the June contract settled last Friday in New York at 44.66 a barrel while currently trading at 46.22 up about $1.50 for the trading week continuing its bullish momentum hitting a 6 month high. I have not been involved in oil for several months, but if you do have a bullish position, I would place my stop loss at the 10 day low around 43.00 as I think this market is getting a little long in the tooth as I’m starting to have a bearish bias. Crude oil prices are trading far above their 20 and 100-day moving average telling you that the short-term trend is higher as the chart structure has improved tremendously. We could be possibly entering a short position in the next several weeks so keep a close eye on this market as the risk/reward could be your favor soon. Continue reading "Weekly Futures Recap With Mike Seery"
Hello MarketClub members everywhere. The Dollar has rallied while U.S. stocks have fluctuated this morning. The reason for the jump is retail sales; retail purchase jumped in April to the highest levels in a year. This indicates that consumer spending could help the U.S. economy recover from its early-year slowdown and possibly give the Fed a reason to raise rates next month.
Purchases climbed 1.3 percent last month, beating the economists estimates of a 0.8 percent gain. It's the biggest gain since March 2015 and comes after a 0.3 percent March drop that was smaller than previously reported, Commerce Department figures showed Friday in Washington. Continue reading "Dollar Jumps After Retail Sales Report"
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