Futures Trading Update

The Bears Have an Edge in U.S. Stock Market

Posted 09/06/2018 11:34AM CTJeff Yasak

The overnight global markets were mixed with the Chinese market continuing to decline while the European and U.S. markets squeaked out minimal gains. The US stock market has not shown an obvious concern for the latest political problems of President Trump, overnight that issue looks to favor the short side.  With fears of a crisis from emerging market currencies and fears of another round of tariffs, one should not minimize the importance of positive data today.  As indicated already, the market remains within a downtrend channel of both domestic and international complications.  So far, anxiety in the marketplace is not extreme and the latest political problem for the White house is not seen as a major threat.  However, to throw off the downside bias, we would need to see strong numbers from the job sector data.  Resistance comes in at 290000 and support at 287500.

E-Mini S&P 500 Sep ’18 Daily Chart

E-mini S&P 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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