RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

After a weaker than expected Chinese PMI reading dampened risk sentiment yesterday, US data disappointed with personal income, construction spending, and the ISM manufacturing index all failing to match market forecasts.  US equity markets were able to shake off post-US data pressure to post moderate gains, with the NASDAQ climbing up to a new record high due to strength in Apple and Facebook, before earning announcements later in the week. Asian equities were mixed as the Japanese Nikkei continued to benefit from a sluggish Yen, while Chinese share came under pressure. European manufacturing PMI readings showed mixed results as the Euro zone was slightly below estimates. Despite geopolitical risks increasing in the Middle East and North Korea, and weak US economic news, the market remains in a solid uptrend and experienced strong gains yesterday. A deal to fund the US government through September helped to boost market sentiment in front of major risk events later on this week. Close-in resistance for June E-mini S&P today is seen at 2394. Look for a potential pull back to at least initial support levels of 2367 and 2358.


Jun ’17 Emini Daily Chart

Jun '17 Emini 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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