The Global equity markets were generally weaker Wednesday night with the RTS index and the Hang Seng markets bucking the trend with gains.  The bulls remain in control into the start of another trading session as the passing of the long feared FOMC meeting looks to encourage the bull camp.  In fact, given that the Fed seemed to lower the number of projected rate hikes next year from four to three that seems to renew the hope for low rates for a moderate period of time ahead and that clearly is a good environment for equities.  As indicated already, the path of least resistance in the mini S&P looks to remain up with the hope of tax reform keeping a positive influence on the market.  Buying support in the March E-mini S&P today is seen at 266325 and initial resistance is seen up at the old high of 267550.  Prior to the Fed meeting, positive data might have been seen as a negative for equities, but now that the rate hike is reality, stocks might prefer to see better data and with this morning’s claims expected to notch higher that could result in a modest corrective dip early on.

E-mini S&P 500 Mar ’18 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