The Week Ahead for June 16, 2019

S&P June 2019 Contract

This past week we saw the S&P tread water moving up only .54%. We continue to see a negative bias in this market as momentum favors downward moves. This week we’ll be watching for the development of a downward trade.

Light Sweet Crude (August Contract)

Crude began a move earlier in the week prompted by tanker attacks in the Gulf of Oman, but then quickly retreated as tensions eased and continued concerns regarding the health of the world economy lingered. We had entered a trade on this move but later exited at breakeven. We will continue to monitor this market for further moves amid Middle East tensions.

Soybeans (November 2019 Contract)

The agricultural markets remained volatile this week, amid spring planting concerns. Soybeans moved up 4.59% while Wheat gained 6.39%. Depicted above is the move in Soybeans this week, during which we were able to capture an 8% profit. We will continue to monitor the agricultural markets for potential trades during this volatile planting season.

Have a great week in the markets.

Soybeans Upward Trend Comes Under Pressure

Recent talk of a trade war between the United States and China have stalled the upward trend in Soybeans.  With this stall, support has formed around 1045 in the May 2018 contract.  I have recently exited my long position in this market as I wait a resumption of a trend.