RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

U.S. stocks index futures are looking strong heading into today’s open as traders were optimistic that the United States and China will once again open the talks on a trade deal. The major indexes are looking to end the week with the biggest gains since June, this coming after selling pressure due to the intense trade tensions and worries of a looming recession. A continued increase on bond yields on Friday provided support for stocks. However, the 10-year treasury yield is still inverted, trading lower than the 2-year. This move has come before every recession over the past 50 years, though the decline has not been instantaneous. Earlier in the week, yields were under heavy pressure, with the 30-year Treasury yield on Wednesday hitting an all-time low.

Resistance is checking in today at 295500 and 297000 and support levels 289900 and 286000.

E-mini S&P 500 Sep ’19 Daily Chart
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Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
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