Tag: how to trade futures

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.

Crude Oil Futures

Crude oil futures in the October contract settled last Friday in New York at 48.66 a barrel while currently trading at 47.80 down slightly for the trading week with low volatility despite the fact that Hurricane Harvey could do some severe damage in the state of Texas. Harvey has put tremendous volatility in the heating oil and unleaded gas futures. Oil prices are trading slightly below their 20 and 100-day moving average telling you that short-term trend is lower, but this trend is mixed to sideways with little movement over the last six weeks. I'm currently not involved, and I'm waiting for a breakout to occur which could happen in next weeks trade. I've seen hurricane situations before, and they do spike prices up in the beginning, but then they fade away very quickly. I don't think there will be much damage occurring from the situation, but we will see come Monday but in the meantime look at markets with a better risk/reward scenario as prices are still stuck in a consolidation between 47/50 over the last month or so as a breakout is coming soon. My only recommendation at the present time is a bullish copper position as there are very few strong trends.
TREND: LOWER - MIXED
CHART STRUCTURE: SOLID
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 December contract settled last Friday in New York at 1,294 while currently trading at 1,306 up about $12 for the trading week breaking the critical 1,300 level now looking to retest the April 17th high of 1,307 as this bullish trend remains intact in my opinion. I'm currently not involved in gold, however, if you do have a bullish position continue to place the stop loss under the 10-day low standing at 1,257. The chart structure will start to improve over the next couple of days, therefore, lowering the monetary risk as low-interest rates in the United States continue to help push up the precious metals here in the short-term. A major terrorist attack in Spain on Thursday is also helping push prices higher as the world is on alert for more attacks in the coming weeks. Prices are trading above their 20 and 100-day moving average telling you that this trend is to the upside with the next major level of resistance all the way at 1,350 which was touched in last November during the U.S election. At present my only precious metal recommendation is still a bullish position in the copper market, but it looks like higher prices are ahead across the board.
TREND: HIGHER
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.

Wheat Futures

Wheat futures in the December contract settled last Friday in Chicago at 4.82 a bushel while currently trading at 4.65 down about $0.17 for the trading week reacting to a very bearish USDA crop report which was released yesterday sending prices down $0.20. Ending wheat stocks were stated at 933 million bushels, but expectations were around 901. That coupled with the excellent growing conditions pushed wheat prices to lows that we haven't seen since June 12th. There is major support around the 4.50/4.60 level as we traded in that area for several months before rallying on fears of drought in the Dakotas and the state of Montana. I have been looking at a bullish position in this market, but I will avoid the grains for now as they still look like they are headed lower in my opinion. Wheat prices are trading under their 20 and 100-day moving average telling you that the trend is to the downside as the chart structure is poor, so look at other markets with a better risk/reward scenario.
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 December contract settled last Friday in New York at 1,275 an ounce while currently trading at 1,268 down slightly for the trading week after hitting a six week high earlier this week. I'm currently not involved in this market with gold being incredibly choppy over the last six months. Gold prices are trading above their 20 and 100-day moving average telling you that the short-term trend is higher. Gold has had a significant rally over the last six weeks due to the U.S. dollar has hit a fresh 14 month low. That is definitely a fundamental bullish factor towards gold and the precious metals across the board. The United States added 209,000 jobs last month sending prices slightly lower in Friday's trade and the next major level of resistance is around the 1,300 level. That has to be broken to continue with its bullish momentum as the chart structure is poor at present due to the moves that went straight down and then straight up. I'm advising clients to look at other markets with better potential than gold at the current time.
TREND: HIGHER
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.

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" →