S&P 500 Hits All Time Highs

S&P 500 Futures---The S&P 500 in the September contract hit all-time highs once again today up another 19 points at 3001 as this gravy train continues as I am not involved in this market, but I certainly think higher prices are ahead as I see absolutely no reason to be short the stock market.

Jay Powell who is the chairman of the Federal Reserve basically came out hinting that lower interest rates are ahead as that is certainly is a bullish fundamental factor towards stock prices coupled with the fact that the United States economy is firing on all cylinders as this market looks to move higher in my opinion.

The S&P 500 is trading far above its 20 and 100 day moving average telling you that the trend is to the upside and if you are long a futures contract stay long and continue to place the stop-loss under the 10 day low which stands at 2914 as an exit strategy.

At the present time I have many bullish recommendations as I think the commodity markets will start to follow the stock market as demand should come back into many of these products.

TREND: HIGHER

CHART STRUCTURE: SOLID

VOLATILITY---AVERAGE

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