Author: Mike Seery

Sugar Futures

Sugar futures in the March contract settled last Friday in New York at 12.73 a pound while currently trading at 12.74 unchanged for the trading week, continuing it's extremely low volatility.

I have been recommending two bullish positions with an average price of 12.67, and if you took that trade, continue to place the stop loss under the 10-day low, which now stands at 12.46. For Monday's trade, that will be raised to 12.51 as the chart structure is outstanding at the current time because prices have been stuck in the mud.

Sugar is still trading slightly above its 20 and 100-day moving average as the trend remains higher as we need some fresh news to dictate short-term price action as the Brazilian Real has hit a 4 year low against the U.S dollar as that has a negative influence on prices.

The next major level of resistance stands at the 13.00 area. I will be looking at adding more contracts at that level because the stop-loss is so tight; therefore, the risk/reward is in your favor, so stay long.

TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

Orange Juice Futures

Orange juice futures in the January contract settled last Friday at 100.50 while currently trading at 99.00 down about 150 points for the week as prices are still stuck in a tight four-week consolidation. Continue reading "Weekly Futures Recap With Mike Seery" →

Gold Futures

Gold futures in the December contract settled last Friday in New York at 1,462 while currently trading at 1,466 up about $4 for the week. However, ending the week on a sour note as all of the interest still lies in the S&P 500, which is hitting another all-time high as money flows continue to come out of gold.

At the current time, I do not have any precious metal recommendations, but I do believe gold prices are headed lower as I see no reason to be a buyer as prices are right near a 3 1/2 month low. Gold prices are trading under their 20 and 100 day moving average as the trend is to the downside, and if you take a look at the daily chart, the down trend line also remains intact as optimism about a trade deal with China continues to depress prices in the short-term.

The 10-year note is currently yielding 1.90% as that has rallied from 1.30% just a couple of months ago and that is also another negative after towards gold prices so if you are short stay short in my opinion so place the stop-loss above the 10-day high which stands at 1,517 as an exit strategy.

TREND: LOWER
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE

S&P 500 Futures

The S&P 500 in the December contract settled last Friday in Chicago at 3090 while currently trading at 3112 up about 22 points for the trading week, hitting another all-time high as the gravy train continues and I still believe it will continue throughout the holiday season. Continue reading "Weekly Futures Recap With Mike Seery" →

Silver Futures

Silver futures in the December contract is trading higher for the 2nd consecutive trading session ending the week on a positive note up 40 cents at 18.20 an ounce after settling last Friday in New York at 17.57 up about 63 cents for the week hitting a four week high.

Dovish comments Thursday from ECB President Draghi bolstered the outlook for additional ECB stimulus measures, which was positive for the precious metals when he said the incoming data confirm "protracted weakness of the Eurozone economy.

I am recommending a bullish position if prices close above 18.00 while then placing the stop loss under the 10-day low standing at 17.18 as the risk is around $2,050 per 2 mini contracts plus slippage and commission as this market looks to test the contract high at 19.75 in my opinion.

I also have a bullish recommendation in copper as the whole sector looks to move higher. Silver prices are trading above its 20 and 100-day moving average as the trend has turned to the upside, so play this higher while making sure that you risk 2% of your account balance on any given trade.

TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: HIGH
Continue reading "Weekly Futures Recap With Mike Seery" →

S&P 500 Futures

The S&P 500 futures in the December contract settled last Friday in Chicago at 2970 while currently trading at 2993 up about 23 points for the week as this market looks to move higher, in my opinion, however, I'm currently not involved.

The S&P is trading above its 20, and 100-day moving average as the trend has turned higher. However, the chart structure is poor at the current time. Therefore, the risk/reward is not in your favor. Still, I am not recommending any short position as I do think going into the holiday season prices will hit all-time highs.

We are in the midst of earnings season as that will undoubtedly dictate short-term price action, and so far, the earnings have been very solid as the U.S economy by far is the best in the world. If you take a look at the daily chart, there is major resistance at the 3000 level, and if we can close above that area, I think prices could be off to the races as extremely low-interest rates are also helping to support stock prices at this time.

TREND: HIGHER
CHART STRUCTURE: POOR
VOLATILITY: AVERAGE
Continue reading "Weekly Futures Recap With Mike Seery" →