Equity

All Eyes on Apple

Posted 11/01/2018 9:41AM CTJeff Yasak

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
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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