RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Global equity markets were mixed overnight with Asian markets weaker and European markets higher. Clearly, positive action in European stock markets was lost on the early US trade, perhaps because DuPont disappointed the market with a 15% decline in second quarter profits and the trade was somewhat disappointed with the results from Alphabet yesterday. However, the market appears to have shaken off the drag from fears that Google costs-per-click will continue to rise, and it also appears as if the markets have discounted the large EU fine lodged on the massive internet giant. All things considered, even a slightly positive track in equities early today points to ongoing bullish resolve, but the trend for the day might be set early because of earnings. In fact, there will be a busy day of earnings announcements today which will include #M, McDonald’s, United Technologies, Eli Lilly, DuPont, Caterpillar, Biogen, General Motors, and Kimberly-Clark before the Wall Street opening. As suggested already, the E-mini S&P has seemingly shaken off the weaker track put in place since last week’s high with prices potentially approaching the old all-time high up at 2476 sometime later this morning. Initial resistance is seen at 2475 and initial support is seen at 2465. With a very long series of key cyclical before the official Wall Street opening. We have to leave the edge with the bull camp unless something unforeseen from the geopolitical landscape surfaces.

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