RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Global equity markets were mixed overnight with the losers mostly concentrated in Europe. However, global stocks’ modest reaction to disappointing Chinese trade figures suggest that the markets aren’t on edge or overly vulnerable to negative headlines. However, the US markets have started the Tuesday trade off on a mixed track, and early corporate news headlines lean bearish. On the other hand, with the markets fresh off dovish comments from the Fed’s Bullard yesterday, and early US economic data this morning expected to be positive, the bull camp should generally retain control. Some traders might suggest the extended chain of new all-time highs in the Dow points to an overbought condition in need of some balancing. Earnings announcements today include CVS Health, Zoetis, and Cheniere energy before the Wall-Street opening. While September E-mini S&P has shown some slightly weaker action to start today, there should be enough residual economic optimism from recent US data flows to provide fairly solid close in support on the charts. Some might suggest the bull camp is set to get the best of both worlds. Yesterday the Fed’s Bullard came off dovish toward rate policy, and this morning’s US data looks to denote ongoing gradual recovery action. Support is at 2467 with closer in support at 2474.

Sep ’17 Emini S&P Daily Chart

Sep '17 Emini S&P 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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