RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

The overnight markets were mixed with the U.S. indices showing a little strength. The gains were seen coming from investors finishing off a volatile month with a two day 650-point rally in the Dow, mainly by short covering. October had the worst month for global shares since May of 2012. The bulls are looking for some momentum on strong economic data considering the risks coming from European politics and slowing growth in China. In the morning, we have seen better than expected earnings from Cigna and DowDuPont and all eyes will be on Apple after the close. The Labor Department stated that unemployment applications fell by 2,00 to 214,000 near the lows not seen close to 40 years. U.S. jobs report will be released Friday morning. Today’s resistance is 273400 and 276300 with support coming in at 267800 and 265200.

E-Mini S&P 500 Dec ’18 Daily Chart

E-Mini S&P 500 Dec '18 Daily Chart

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Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
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