Tag: Guest Bloggers

Weekly Futures Recap With Mike Seery

Posted on by Mike Seery

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 June contract settled last Friday in Chicago at 2941 while currently trading at 2939 unchanged for the trading week, but ending on a positive note up over 20 points due to the incredibly strong monthly unemployment number which was released this morning. The economic figures that have been released in the last week have been impressive as we had a 3.2% first-quarter GDP and now we added 263,000 jobs with an unemployment rate of 3.8% as I see further growth in the U.S. economy and higher stock prices. I have been talking about the S&P 500 for months, and I still believe we will continue the bullish trend as 3000 is my next level of resistance. If you are long a futures contract, I would continue to place the stop loss under the 2 week low standing at 2899. However, the chart structure will not improve so you will have to accept the monetary risk. The volatility in the S&P remains historically low especially at these elevated prices as I see no reason to be short as the U.S. economy is astonishing at the current time. The S&P 500 is trading far above its 20 and 100-day moving average telling you that the trend is to the upside, but for the bullish momentum to continue, we have to break the May 1st high of 2961 which was also the all-time high which I think will be breached possibly in next weeks trade.
TREND: HIGHER
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW
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Weekly Futures Recap With Mike Seery

Posted on by Mike Seery

Chart Structure, Futures Trading, gold futures, how to trade futures, mike seery, seeryfutures.com, weekly futures recap, Guest Bloggers, Risk Management,

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 June contract settled last Friday in New York at 1,276 ending the week on a positive note up $11 to close around 1,290 an ounce. Gold prices hit a 4 month low earlier in the week only to rally the last four trading sessions as I think it's just a kickback due to the oversold conditions as the downtrend line remains intact. Gold prices are now trading under their 20 and 100-day moving average as the trend has turned south in the short term with the next major level of support around the 1,250 area as the U.S. dollar hit a fresh yearly high this week as that has put pressure on the precious metals. Low inflation in the United States continues to keep a lid on gold as prices have gone nowhere over the last 6 months as the commodity markets, in general, are lacking trends and excitement at this time. If you are bullish gold I would buy it at today's price level while placing the stop loss under the most recent low which was hit on April 23rd at 1,267 as an exit strategy as the risk would be around $2,300 per contract plus slippage and commission, however like I've stated before I'm recommending clients to sit on the sidelines.
TREND: MIXED - LOWER
CHART STRUCTURE: SOLID
VOLATILITY: AVERAGE
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 June contract is currently trading at 1,295 an ounce unchanged for the trading week as the trend remains sideways. If you are long a futures contract, I would place the stop loss under major support which now stands at 1,284 as an exit strategy as I still have a bullish bias towards gold, but the risk/reward is not in your favor to take a position at this time. Gold prices are trading slightly under their 20 and 100-day moving average as the trend is lower to mixed as prices have gone nowhere over the last three months. Volatility remains average as prices topped out last month slightly above the 1,350 level as I still think longer-term gold prices look attractive. However, all the interest remains in the U.S. equity market which is hovering right near all-time highs once again. For the bullish momentum to continue prices have to break the March 25th high of 1,330 in my opinion so be patient and let's see what next week's trade brings as I do believe bullish trends across the board will start to develop soon.
TREND: MIXED
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE
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.

Silver Futures

Silver futures in the May contract settled last Friday in New York at 15.40 an ounce while currently trading at 15.16 down about $0.24 for the trading week bouncing off of major support which was also right near a three month low. I don't have any precious metal recommendations as silver continues to remain in a choppy chart pattern as we are now trading under their 20 and 100-day moving average as the trend has turned to the downside. However, I do believe the downside is limited. The U.S. dollar is right near a two year high this week as that is what has put pressure on silver and the entire precious metal complex as there are very few strong trends out of the commodity sectors at this time. If you are long a futures contract, I would place the stop loss under today's low as an exit strategy of 14.95 because if that level is broken, you do not want to have any type of bullish position in my opinion.
TREND: LOWER
CHART STRUCTURE: SOLID
VOLATILITY: INCREASING
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 April contract settled last Friday in New York at 1,302 while currently trading at 1,310 up about $8 for the trading week. Prices reacted positively off of the Federal Reserve statement that they will not raise interest rates for the rest of 2019 which is a fundamental bullish factor towards gold and the precious metals as a whole. Gold prices held major support a couple of weeks back at the 1,280 level as I still believe we will break the February 20th high of 1,349 in the coming weeks ahead. The Federal Reserve stated that there would be no more interest rates hikes in the near future as that is bullish commodities and stock prices in general as I see no reason to be short gold at these relatively inexpensive prices. Gold futures are trading above their 20 and 100-day moving average as the trend is slightly higher as I will be looking at a bullish position if prices hit a four week high in next weeks trade as the chart structure is improving daily due to the low volatility. The U.S. dollar has sold off of recent highs as lower interest rates in the United States means a weak dollar which is also bullish gold.
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE
Continue reading "Weekly Futures Recap With Mike Seery" →