Equity

The Fundamental and Technical Edge in Equities

Posted 06/14/2018 11:46AM CTJeff Yasak

Overnight Thursday, global equity markets were weaker in the wake of the US FED interest rate hike on Wednesday.  However, China posted economic data that grew at a slower pace than anticipated, and the Chinese central bank held steady on interest rates even with the US move to raise rates.

With a fresh four-day low early Thursday, the Fed news from the previous session continues to weigh on prices.  However, rumors of additional Us tariffs on Chinese goods and the inability to hold above 2774 in the September E-mini gives the bear camp a fundamental and technical edge today.  Fortunately for the bulls, there does not appear to be a high level of concern in place but the net spec and fund long in the E-mini futures possibly recorded another new all-time record high reading and that leaves the market susceptible from a technical perspective.  Resistance comes in at 2788 and 2800 with support at 2770 and 2765.

E-mini S&P 500 Sep ’18 Daily Chart

E-mini S&P 500 Sep '18 Daily Chart

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Jeff Yasak

Senior Market Strategist
Since leaving the corporate world in 1995, Jeff has established a name for himself as a trusted financial advisor and trading advocate—leveraging his studies in finance from the University of Wisconsin-Madison and Loyola University, 25+ years of experience, and a passion for the industry to guide both novice and experienced traders in pursuit of achieving their own financial reward. Jeff began his career as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange—fostering a deep interest in the options market that eventually drove him into the retail futures sector where he spent several years as a broker’s assistant before taking on clients of his own. Operating at the intersection of strategy and success, Jeff seeks to establish meaningful relationships with clients—synthesizing financial data and offering timely insight that informs critical decision-making surrounding money management and trading activities. Well-versed in the futures, securities, equities, and indices markets, Jeff is uniquely positioned to direct his clients to success. With a carefully cultivated combination of experience and expertise, he is able to connect with clients to better understand their goals and offer sound financial guidance that delivers notable bottom-line results.
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