RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Equity

Let’s Make a Deal!!!

Posted 08/30/2019 9:14AM CTJeff Yasak

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
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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