Prices
October 22, 2015
Hot Rolled Futures: Can't Both be Right!
Written by Andre Marshall
The following article on the hot rolled coil (HRC), busheling scrap (BUS), iron ore and financial futures markets was written by Andre Marshall, CEO of Crunch Risk LLC and our Managing Price Risk I & II instructor. Here is how Andre saw trading over the past week:
Financial Markets:
The stock market continues to prevail. From a chart perspective, it even looks downright bullish and is probably headed to set new highs again. Today was an important day in that statement in that the S+P broke it’s resistance line, which was started on July 20th, to settle just under 2052 on the Dec future. It’s only the first day to break it, but tomorrow all we would need is a settle above 2035 zone to convince us it’s a break out and we are headed higher again. This time it will be to test the old highs set on July 20th at 2118.50.
