Tag: Futures Trading

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.

S&P 500 Futures

The S&P 500 in the September contract settled last Friday in Chicago at 2468 while currently trading at 2465 down slightly for the week. I remain very bullish the equity market & if you are long a futures contract the stop loss has been raised to 2448 and in 2 more days that will be raised to 2457. The chart structure has turned excellent because volatility is relatively low except in Thursday's trade when we saw a significant price swing. The Vix, which measures the volatility in the stock market hit a 10-year low in yesterday's trade down to the 11 level which is shocking in my opinion. The bias is to the upside at this time as extremely low-interest rates coupled with a weak U.S. dollar continues to prop up equity prices and I think this trend is going to continue. I'm certainly not recommending any type of bearish position. The S&P 500 is trading far above its 20 and 100-day moving average as this trend is very strong and seems to get stronger on a weekly basis with excellent earnings coming about. This is the perfect storm for higher prices in my opinion so stay long and place the proper stop loss.
TREND: HIGHER
CHART STRUCTURE: SOLID - IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery" →

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.

U.S. Dollar Futures

The U.S. dollar in the September contract settled last Friday at 94.93 while currently trading at 93.77 down about 115 points for the trading week continuing its bearish momentum hitting and 11 month low. I'm currently not involved in this market, but I do think prices are heading out towards the 90/92 level in the coming weeks as the bearish momentum is getting stronger on a weekly basis. The Dollar index traded as high as 102 in the month of March as low-interest rates in the United States continues to push this market lower. If you are short a futures contract place the stop loss above the 10-day high which stands at 95.96 as the chart structure will start to improve in next week's trade, therefore, lowering the monetary risk. The currency market is one of the trendiest markets as picking a bottom, or a top is extremely dangerous as some of these trends can last for long periods of time just like this one has in 2017. I'm certainly not recommending any type of bullish position that would be very dangerous as this market is trading far under its 20 and 100-day moving average telling you that this trend is the downside so if you are short stay short as you're on the right side in my opinion.
TREND: LOWER
CHART STRUCTURE: IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery" →

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 August contract is up $10 an ounce, and I am now recommending a bearish position. As I stated in yesterday's blog from around the 1,228 level if you took the trade, continue to place the stop loss at the 10-day high standing at 1,243. However, in Tuesday's trade that could be lowered to today's high around 1,233 as the chart structure is outstanding therefore the risk/reward is highly in your favor in my opinion. Gold prices rebounded sharply earlier this morning due to an abysmal retail sales report which was the 2nd consecutive report that was negative. However, the U.S. stock market is hitting all-time highs once again today as they were not considering this valuable information so stay short & place the proper stop loss risking 2% of your account balance on any given trade. Gold prices are still trading under their 20 and 100-day moving average as prices settled last Friday in New York at 1,209 while currently trading at 1,226 up to about $17 for the trading week. I think this is just a kick back due to oversold conditions as the major support still lies around the 1,200 level & if that is broken this bearish trend could get ugly to the downside in my opinion so stay short.
TREND: LOWER
CHART STRUCTURE: EXCELLENT
Continue reading "Weekly Futures Recap With Mike Seery" →

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 August contract hit a 2 month low currently trading at 1,215 an ounce after settling last Friday in New York at 1,242 down over $25 for the trading week continuing its bearish trend breaking the May 9th low of 1,217 as it looks to me that prices as I've stated in previous blogs prices are headed towards the 1,200 level. The monthly employment number came out today stating that we added 220,000 new jobs sending the stock market higher once again as money flows continue to come out of the precious metals & into the equity market. I think this trend will continue with the possibility that we will retest the January 5th low around 1,189 as this market is getting stronger to the downside on a weekly basis. Gold prices are trading under their 20 and 100-day moving average telling you that the short-term trend is lower as silver and platinum prices continue to move lower as well. The trend is your friend in the commodity markets and if you are short stay short & place the proper stop loss as I see no reason to own gold at the current time. The U.S dollar is near a 10 month low coupled with major problems with North Korea, however that is still not able to support gold as that tells you how weak this market actually has become.
TREND: LOWER
CHART STRUCTURE: POOR
Continue reading "Weekly Futures Recap With Mike Seery" →

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 August contract settled last Friday in New York at 1,256 an ounce while currently trading at 1,243 down about $13 for the trading week. I'm currently not involved in this market, but I do think lower prices are ahead despite the fact that the U.S dollar was down about 150 points this week, but was still unable to lend any support to gold prices. Gold is still trading below its 20 and 100-day moving average telling you that the short-term trend is lower, if you are short a futures contract place the stop loss at the 10-day high which stands at 1,260. The chart structure is solid with the next level of support at 1,235, and if that is broken, I think we could retest the 1,200 level rather quickly. I do not have any precious metal recommendations. I still believe that they remain weak except for copper prices which have broken out to the upside. Gold remains relatively nonvolatile over the last several weeks, and we need some fresh fundamental news such as interest rate hikes or global geopolitical problems to start pushing prices in either direction.
TREND: LOWER
CHART STRUCTURE: SOLID
Continue reading "Weekly Futures Recap With Mike Seery" →