RJO FuturesCast

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Indices

An Apple a Day Keeps the Investors Away

Posted 01/03/2019 10:57AM CT | Jeff Yasak

The overnight equity markets were mostly lower from an overbought market from a quick worldwide collapse of Apple product sales. Apple announced Thursday morning that it will greatly miss the quarterly sales forecast because of trade tensions and a weakening economy in China. AAPl, one of the world’s most held stocks, dropped over 10% and fell to fourth behind AMZN, MSFT and GOOGL as the biggest public company.  The tech giant’s warning also dragged down others doing big business in China with Caterpillar and Boeing trading down 1.5% and 2% respectfully. Support today is 274600 and 243000 while resistance comes in at 254500 and 256700.

E-Mini S&P 500 Mar ’19 Daily Chart

E-Mini S&P 500 Mar '19 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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