Tag: Futures

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.

Grain Futures--The grain market was sharply higher this week with soybeans leading the charge nearly $.60 higher trading above its 20 day moving average but still below its 100 day moving average which is at 14.96 which also serves as the next major resistance as weather concerns in South America as well as drought concerns persisting here in the United States Midwestern area propelling prices higher with corn futures for the March contract trading above its 20 day moving average but just an eyelash away from his 100 day moving average which is at 7.42 up over $.20 for the week hitting a 3 week high also continuing its bullish momentum on planting concerns here in the Midwest with certain parts are too dry with a lack of snow. Wheat futures continued their bullish momentum trading above their 20 day moving average but below their 100 day moving average which is at 8.55 a bushel up over $.40 this week at 7.95 nearly higher by $.12 as traders are now exiting short positions and possibly going long this market in case there are weather problems in Kansas which is the United States leading producer of wheat so prices could head back up to the $9 dollar level quickly if the drought persists. I have stated in many previous blogs I was bearish the grain market a couple of days ago and at this point I’m just advising to sit on the sideline and see if a trend really does develop and I would like to see a little better chart structure and prices hit at least 4 week high before I would look to possibly get long and I do believe you might see some consolidation of this latest move in the next week or two. TREND: HIGHER –CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap with 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.

Japanese Yen--- How much lower can the Japanese Yen go against the U.S Dollar? I keep talking about the Yen on several different occasions and I remain very bearish while it is trading far below its 20 and 100 day moving average down over 200 points last week and down 133 points this week creating another 2 ½ year low and this Friday afternoon down over 100 points again continuing the best down trend in the commodity markets in the last couple of months. The Yen is down for the 3rd consecutive trading session trading at 1.1213 continuing its steep decline in recent weeks and in my opinion I believe the Yen is headed down to the 105 level in the next couple of weeks due to the fact that the Japanese government is forcing the Yen lower against the U.S dollar trying to spur their exports and improve their economy by lowering the value of their currency hitting a fresh 2 1/2 year low once again today and I am still advising traders to be short the Japanese Yen. Remember when you trade commodities you will be wrong sometimes so you must put a stop loss and not marry your position because never getting out causes exaggerated monetary losses so always risk between 1-2% of your account balance on any given trade trying to minimize risk. TREND: LOWER–CHART STRUCTURE: EXCELLENT Continue reading "Weekly Futures Recap with 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.

Precious Metal Futures--- The precious metal futures this Friday afternoon were down sharply across the board due to the fact of the Fed minutes coming out yesterday stating that a possible end of the QE’s by the end of 2013 which sent the precious metals sharply lower with gold plummeting $24 today to trade right around $1,651 an ounce and at one point was down over $45 before profit taking set in continuing its bearish momentum hitting a fresh 4 month low trading far below its 20 and 100 day moving averages. Silver futures for the week are down around $.70 hitting a fresh 4 month low currently at 29.95 in the March contract also trading below its 20 and 100 day moving average with major support right around $28 an ounce and in my opinion I think the tide has turned in the precious metals in the short term and I see further weakness in the coming weeks. The one bright spot in the precious metals this week was copper in the March contract finishing higher by about 300 points for the shortened week trading above its 20 and 100 day moving average and on Wednesday the 1st day of 2013 hit a two-month high on the fact that the housing market is coming back strong along with economies around the world. Continue reading "Weekly Futures Recap with Mike Seery" →