RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Global equity markets were higher overnight with the Dow Jones industrial average expected to open 35 points higher.  In addition to a generally positive economic environment, the stock market this morning should benefit from news that Chinese automaker Great Wall Motor Company LTD was considering taking an interest in Fiat Chrysler.  Another element helping cyclical attitudes in the market came from home builder, Toll Brothers, as their profit rose by nearly 41% off what the company described as an improving job market.  Limiting the market on the upside is news that the US administration was planning to commit more troops to the effort in Afghanistan.  Unfortunately for the bull camp, evidence of efforts by the US treasury Secretary and members of congress to move forward on tax reform have not been given much mainstream media attention or on might have expected the risk on argument to gain even more strength.  As indicated already, the path of least resistance in the September E mini S&P is pointing upward with a series of closes around 2427 representing close in support.  However, the strength in prices from yesterday’s lows were not laid at the feet of some specific event and therefore one might assume the gains this morning are merely technical balancing from four days of aggressive selling pressure.

Sep ’17 Emini S&P Daily Chart

Sep '17 Emini S&P Daily Chart

888-861-1656312-373-4966Series 3 Licensed

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.
Read More