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    April 21, 2016

    Hot Rolled Futures Markets Breaking Out

    Written by Andre Marshall

    The following article on hot rolled coil (HRC) and busheling scrap (BUS) trading was produced by Andre Marshall and Jack Marshall of Crunch Risk LLC.

    Well, I wrote last about a month back and at that time I commented that I was surprised how quickly the market (media) had gone from bearish to bullish, really Bullish in only a week – while I was on vacation no less. Well that appears to be to the inflection point where the world realized we couldn’t keep going only in one direction. It doesn’t mean the world is healthy, and it doesn’t mean that the worry should end. It simply means the world being a little less unhealthy was all of a sudden very bad for all the bears out there, who had gone short!!! (like any of you out there who committed to a forward price on an order and didn’t cover it in the futures market, figuring you were safe). So indeed the S+P 500 (equities mrkts. moreover) are in the process of testing the old highs of the market. On the S+P 500 we are headed to test 2137 high. We are last 2083 v. the 2043 we were a month back. Next resistance is at 2115, but not necessarily strong resistance. Best Strap In if you haven’t already.

    Andre Marshall

    Read more from Andre Marshall

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