RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

The overnight global markets were mostly weaker with the Shanghai and Australian markets which managed impressive gains being the exceptions.  The concerns overnight centered on sanctions that will now weigh on the Russian economy and the sharp declines in the Turkish and Russian currencies.  This is creating some fear of a potential financial crisis developing in Western Europe.  From the US/China trade front, it also appears as if the war is escalating daily with the Chinese media outlets reiterating that they have many weapons to utilize against the US.

While the geopolitical events continue to increase, the E-mini Thursday morning appears to be heading for a potential move to all-time highs.  While positive earnings seem to be part of the bull case, it is possible that the trade thinks the tariff situation will ultimately be solved or will not be a definitive impact.  Resistance comes in at 286000 and 286600 while support comes in at 285050 and 284700

E-mini S&P 500 Sep ’18 Daily Chart

E-mini S&P 500 Sep ’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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