Will The S&P 500 Hit All Time Highs ?
Michael Seery of Seery Futures - InsideFutures.com - Wed Mar 13, 3:59PM CDT

S&P 500 Futures---The S&P 500 in the June contract is trading higher for the 3rd consecutive session up another 24 points at 2821 hitting a 3 1/2 month high continuing its bullish momentum.

If you have followed any of my previous blogs you understand that I am bullish the stock market as I think we will break the October 3rd all time high of 2960 in the coming weeks ahead as the U.S economy is firing on all cylinders coupled with the fact of historically low interest rates would should continue to propel earnings.

The S&P 500 is trading above its 20 and 100 day moving average as the trend is to the upside as crude oil prices have also hit a 4 month high today as that tells you that there's strong demand for that commodity which also tells you that the economy is strong.

The Nasdaq 100 continues it's bullish momentum as large tech companies such as Google and Apple continue to rally and if it wasn't for the plane crashes hurting the stock of Boeing the S&P and the Dow Jones would be much higher from today's price level.

At the present time I'm certainly not recommending any type of bearish position as that would be counter trend trading as this trend is strong to the upside & if you are long a futures contract stay long.

TREND: ---HIGHER

CHART STRUCTURE: SOLID

VOLATILITY---INCREASING

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