S&P Midcap 400 Daily Commodity Futures Price Chart: Dec. 2014 : CME

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Daily Commodity Futures Price Chart: Dec. 2014

S&P Midcap 400 (CME)

TFC Commodity Charts


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Contract Specifications:MD,CME
Trading Unit: $500 times the Standard & Poor's MidCap 400 Stock Price Index
Tick Size: 0.01=$5.00
Quoted Units: index points, expressed to two decimals
Initial Margin: $20,000   Maint Margin: $16,000
Contract Months: Mar, Jun, Sep, Dec
First Notice Day: Not applicable (cash settled contract)
Last Trading Day: The Thursday prior to the 3rd Friday of the contract month.
Trading Hours: Floor 8:30 a.m.-3:15 p.m.
Globex Mon/Thurs 3:45 p.m.-8:15 a.m. Sun & Hol 5:30 p.m.-8:15 a.m.
All times Chicago time.
Daily Limit: - 5.0%, 10.0%, 15.0% and 20.0%

Analysis

Thu 12/18/14

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an overbought market. An overbought reading occurs when the close is nearer to the top band than the bottom band.

Additional Analysis: The market appears overbought, but may continue to become more overbought before reversing. Look for some price weakness before taking any bearish positions based on this indicator.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Short Term: Recently the market has been extremely bearish, however currently the market has lost a some of its bearishness due to the following: the fast moving average slope is up from previous bar, the slow moving average slope is up from previous bar, price is above the fast moving average, price is above the slow moving average. Its possible that we may see a market rally here. if so, the rally might turn out to be a good short selling opportunity.

Conventional Interpretation - Long Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Long Term: Recently the market has been extremely bearish, however currently the market has lost a some of its bearishness due to the following: the fast moving average slope is up from previous bar, the slow moving average slope is up from previous bar, price is above the fast moving average, price is above the slow moving average. Its possible that we may see a market rally here. if so, the rally might turn out to be a good short selling opportunity.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is above the moving average so the trend is up.

Additional Analysis: Market trend is UP.

Stochastic - Fast Indicator:

Conventional Interpretation: The stochastic is in overbought territory (SlowK is at 100.00); this indicates a possible market drop is coming.

Additional Analysis: The long term trend is UP. The short term trend is UP. Even though the stochastic is signaling that the market is overbought, don't be fooled looking for a top here because of this indicator. The stochastic indicator is only good at picking tops in a Bear Market (in which we are not). Exit long position only if some other indicator tells you to.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bullish because the SlowK line is above SlowD line.

Additional Analysis: The long term trend is UP. The short term trend is UP. SlowK was up this bar for the second bar in a row. We may have seen the bottom of the down move for a while. The market looks strong both long term and short term. The SlowK is at (64.92). A good upward move is possible without SlowK being overbought.

Swing Index Indicator:

Conventional Interpretation: The swing index is most often used to identify bars where the market is likely to change direction. A signal is generated when the swing index crosses zero. No signal has been generated here.

Additional Analysis: No additional interpretation.

Volatility Indicator: Volatility is trending up based on a 9 bar moving average.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is UP. The short term market trend, based on a 5 bar moving average, is UP. Volume is trending lower. In general this is bearish.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 58.63). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat overbought (RSI is at 58.63). However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence before getting too bearish here.

ADX Indicator:

Conventional Interpretation: ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend while a falling ADX suggests a weakening trend which is subject to reversal. Currently the ADX is falling.

Additional Analysis: The long term trend, based on a 45 bar moving average, is up. However, a falling ADX indicates that the current trend is weakening and may possibly reverse. Look for a choppy market ahead.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (64.52) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation, CCI (64.52) has crossed above zero, issuing a signal to close short positions and initiate long positions.

DMI Indicator:

Conventional Interpretation: DMI+ is greater than DMI-, indicating an upward trending market. A signal is generated when DMI+ crosses DMI-.

Additional Analysis: DMI is in bullish territory.

MACD Indicator:

Conventional Interpretation: MACD is in bearish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. MACD is in bearish territory. However, the recent upturn in the MacdMA may indicate a short term rally within the next few bars.

Momentum Indicator:

Conventional Interpretation: Momentum (4.40) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Momentum is indicating an overbought market. However the market may continue to become more overbought. Look for some evidenced weakness before getting too bearish here.

Open Interest Indicator: Open Interest is trending up based on a 9 bar moving average. This is normal as delivery approaches and indicates increased liquidity.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (0.31) is above zero, indicating an overbought market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is UP. The short term trend, based on a 9 bar moving average, is UP. Rate of Change is indicating an overbought market. However the market may continue to become more overbought. Look for some evidenced weakness before closing long positions here.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

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