Author: Mike Seery

Gold Futures

Gold futures in the August contract is currently trading higher by $12 at 1,440 an ounce after settling last Friday in New York at 1,412 up about $28 hitting a new 6 year high as this market looks to test the 1,500 level in the coming weeks ahead in my opinion.

I'm not involved in gold, but I have bullish positions across the board in the precious metals as I still think gold prices continue to March higher and if you are long a futures contract place the stop loss under the 2 week low which stands at 1,384 as an exit strategy.

Gold prices are trading far above their 20 and 100-day moving average as this trend is strong to the upside as silver prices are up over $0.40 today and still looks very cheap compared to gold prices.

Volatility in gold has accelerated as that is here to stay in my opinion as I think strong demand will continue to support gold and the precious metals across-the-board as U.S. interest rates remain at extremely low levels which is bullish towards the commodity markets.

When you trade the commodity markets finding the trend is the most important aspect as the precious metals have now developed into strong trends as you should have bullish positions, not bearish positions as that would be counter-trend trading.

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

Silver Futures

Silver futures in the September contract is currently trading at 15.22 an ounce after settling last Friday in New York at 15.00 higher by about 22 cents continuing its bullish momentum. Volatility is very low as the rest of the precious metals sector is having tremendous price swings daily as I am shocked that silver hasn't joined the party, but I think it will and if your patient enough I still think higher prices are ahead.

I have been recommending a bullish position from around the 14.93 level, and if you took the trade, I'm going to continue to keep the stop at 14.70 as we need to give this trade some room. Silver prices are trading right at their 20 and 100-day moving average, however for the bullish momentum to continue we have to break the June 21st high of 15.62 as that could happen on any given day, especially if the volatility increases.

I also have bullish recommendations in platinum, palladium, and copper, as demand has come back into this sector as the commodity markets have bottomed out my opinion as most of my recommendations have been to the long side which is the path of least resistance.

TREND: HIGHER - MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW
Continue reading "Weekly Futures Recap With Mike Seery" →

S&P 500 Futures

The S&P 500 in the September contract is trading at 2989 lower by 11 points off of the monthly jobs number showing that we added another 224,000 new jobs which was construed as bearish because the Federal Reserve might not lower rates. If you have followed any of my previous blogs, you understand that I've had a bullish bias towards the upside for quite some time, and I still think higher prices are ahead.

The primary catalyst for the surge in equity prices is the fact that the 10-year note is now yielding 2.02% which is remarkable in my opinion especially for the growth rate that we are experiencing here in the United States with the GDP average of over 3%.

Generally speaking, you don't see interest rates this low when economies are surging. However, one of the main reasons for bond yields to continue to head lower is the fact that Europe, which is a collection of socialist countries that have no economic growth. They are the catalyst for lower interest rates as many of them are experiencing negative rates while at the current time, the 10-year note stands at 2.02% and still looks expensive.

I still believe the S&P 500 will trade significantly higher come year end as I see no reason to be bearish the U.S. economy as this is the perfect soup with low-interest rates coupled with the fact that the Federal Reserve will back up the U.S. economy.

TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE

Silver Futures

Silver futures in the September contract settled last Friday in New York at 15.34 an ounce while currently trading at 15.02 down over $0.30 for the trading week as prices hit a 2 week low.

I have been recommending a bullish position from the 14.93 level and if you took that trade continue to place the stop loss under 14.70 on a closing basis only as an exit strategy as I'm hoping that today's sell-off was exaggerated due to the low volume because of the holiday. Continue reading "Weekly Futures Recap With Mike Seery" →

Platinum Futures

Platinum futures in the October contract is up $2 at 819 an ounce after settling last Friday in New York at 815 up about $4 for the trading week still experiencing very low volatility as prices are right near a 3 week high. I will be recommending a bullish position if we break the 838 level while placing the stop loss at the contract low which was hit on May 30th at 793 as the risk would be around $2,300 plus slippage and commission.

Gold futures are trading almost $600 higher than platinum as in the old days platinum used to trade higher than gold as this spread is really wide at the current time as I think platinum prices look extremely cheap to the rest of the sector and especially gold.

Platinum prices are now trading above their 20-day, but still below their 100-day moving average as the trend at the current time as mixed as I will wait for the breakout to occur before entering as I will not go short.

The volatility you would have to think will start to expand to the upside in the coming weeks and months ahead as it looks to me that prices over the last month are forming a bottoming out pattern.

TREND: MIXED
CHART STRUCTURE: EXCELLENT
VOLATILITY: LOW

Gold Futures

Gold futures in the August contract is currently trading at 1,413 an ounce after settling last Friday in New York at 1,400 up about $13 for the trading week and traded as high as 1,442 before profit-taking came about, but I do think higher prices are ahead. It won't surprise me if we consolidate due to the $150 rally that we've witnessed over the last month as tensions with the country of Iran continue to support prices.

Gold is trading far above its 20 and 100-day moving average as the trend is higher as I also have a bullish recommendation in silver and palladium while keeping a close eye on platinum to the upside. Continue reading "Weekly Futures Recap With Mike Seery" →