The Gravy Train Continues In The S&P 500

S&P 500 Futures---The S&P 500 in the December contract is sharply higher this afternoon in Chicago up 21 points at 2917 right at all-time highs once again as the gravy train continues as I have been recommending a bullish position originally in the September contract now rolling over to the December contract from around the 2803 level and if you took that trade continue to place the stop loss under the 10 day low at 2869.

The Dow Jones Industrial Average is up 250 points today & as I've talked about in many previous blogs this is where all the excitement and interest lies as the commodity markets continue to go lower generally speaking as I have many bearish recommendations at the current time as money flows continue to go into U.S equities as I still believe the S&P 500 will trade around the 3100 level come Christmas time.

The S&P 500 is trading far above its 20 and 100 day moving average as the trend clearly is to the upside as the stop loss will start to tighten up in next week's trade therefore lowering the monetary risk, as I will be looking at adding more contracts to the upside as adding to winners & getting out of losing trades is the way to trade over the course of time in my opinion as this market still has a lot of room to run to the upside for the rest of 2018.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: LOW

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