CME Group operates the world’s largest options and futures exchange – and it has been a strong performer on the Nasdaq over the past few months.
Since putting in a bottom in July, it has enjoyed very strong turnover, which indicates institutional sponsorship. I like big money flow and always look for opportunities to jump on the back of these elephants. You can see money flow in the bottom pane; it has been strong for most of 2017.
With price patterns of higher highs and highs and higher lows, it is clear the chart of the CME Group is quite bullish. The MACD is on a buy signal and will renew soon. I expect to see the stock move along the path of the orange dotted lines.
CME is knocking on the door of new highs, and continues to lead the way for other exchanges like Nasdaq and CBOE. I am bullish on the entire group.
CME Group (NYSE: CME) Video Chart Analysis
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About CME Group
CME Group Inc., through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. The company offers a range of products across various asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals. Its products include exchange-traded; and privately negotiated futures and options contracts and swaps. The company executes trade through its electronic trading platforms, open outcry, and privately negotiated transactions, as well as provides hosting, connectivity, and customer support for electronic trading through its co-location services. It also provides clearing and settlement services for exchange-traded contracts, as well as for cleared swaps; and regulatory reporting solutions for market participants through its repository services in the United States, the United Kingdom, Canada, and Australia. In addition, the company offers a range of market data services, including live quotes, delayed quotes, market reports, and historical data services, as well as index services. CME Group Inc. serves professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, producers, governments, and central banks. The company was formerly known as Chicago Mercantile Exchange Holdings Inc. and changed its name to CME Group Inc. in July 2007. CME Group Inc. was founded in 1898 and is headquartered in Chicago, Illinois.
