S&P 500 Hits All Time Highs Again

S&P 500 Futures---The S&P 500 in the December contract is hitting another all-time high this Thursday in Chicago up another 12 points at 2927 as the Dow Jones Industrial Average is up 230 points as the U.S equity markets continue to surge on a daily basis.

I had been originally recommending a bullish trade in the September contract then rolling over into the December due to expiration as the original trade was from the 2803 level and if you took the trade the stop loss remains at 2869, however in Monday's trade that will be raised to 2883 as the monetary risk will be lowered.

The S&P 500 clearly has the strongest trend to the upside out of all commodity sectors as we are trading far above the 20 and 100 day moving average as I still think come year end we will trade around the 3100 area as I certainly don't see any reason to be short at this time as the U.S economy is on a roll & I don't think that situation is going to change anytime soon so stay long & continue to place the proper stop loss.

I will be looking at adding more contracts to the upside on any type of price retracement possibly in tomorrow's trade as the volatility still remains incredibly low despite these elevated prices which that tells me that there is still more room to run.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: LOW

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