RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Daily Futures Trading Update

Futures Market Insight w/John Caruso – 02/26/2019

Posted 02/26/2019 8:17AM CT | John Caruso

Bull and Bear Market

Interesting fact about Trump’s tweet at OPEC yesterday – The Energy sector is one of the top performing sectors YTD for the S&P 500 at +14.6% with the S&P 500 as a whole +10% ytd.  It’s almost a case of “You can’t have your cake and eat it too”.  You want cheaper oil, well prepare for lower oil stock prices as well. Moving on – the one thing I’m surprised by is that the data is actually worse than we thought.  Housing starts were putrid this morning for Dec, and we need not look back at retail sales -1.2%.  Earnings update: as we wind down 450/500 companies have reported y/y growth of +11.7%, that’s considerably lower from the peak cycle growth rate in Q3 of 24.5%.  Remember, we don’t care about “up or down”, we care about “are things getting better or worse”. 

Oil- big reversal yesterday, down over 3% for the session.  Oil is playing with our bull/bear trend line, and we’re still interested in buying opportunities here as we approach the low end of our range.  Of course energy is a highlighted long position as we head into Q2 2019 – Growth decel/Inflation accel. 

That’s about it for now.  Good Luck. 

Actionable Levels:

Market

Trend

Range Low

Range High

 

 

 

 

SP500

Bearish

2686

2811

Nasdaq Comp

Neutral

7256

7626

10yr Yield

Bearish

2.60%

2.71%

VIX

Bullish

13.22

19.26

Oil

Neutral

53.34

57.89

Nat Gas

Bearish

262

293

Gold

Bullish

1318

1352

USD (Cash)

Neutral

95.62

97.18

EUR/USD

Bearish

1.11

1.14

USD/JPY

Bearish

1.0925

1.111

 

Feel free to reach out to John Caruso at jcaruso@rjofutures.com or 1-800-669-5354 if you’d like to get a 2 month free trial of our proprietary trade recommendations by email. 

Also, be sure you sign up for our exclusive RJO Futures PRO simulated demo account here.

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John Caruso

Senior Market Strategist
Follow John on Twitter @JCarusoRJO. John began his career at Wilshire Quinn Capital, a Wealth Management Firm based out of Los Angeles, California. Prior to becoming a broker he did some individual trading on his own, where he first began to study and interpret different market strategies and ideas. In 2006 John moved over to Lind-Waldock where he began to service clients as a professional broker. He joined RJO Futures in 2011.
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