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.
