RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

The Wednesday overnight global equity markets were mostly higher with the Shanghai markets and the FTSE 100 being the exceptions.  While the markets forged fresh higher highs overnight they were initially unable to hold all of those gains perhaps because of disappointment with German and European data and ongoing fears of rising rates.

As indicated already, the E-mini S&P did forge a higher high for the move overnight and the highest price since March 14, but it has initially fallen back from that high and was trading both sides of unchanged earlier today in a pattern that suggests the bull camp needs fresh headlines to continue the recent uptrend pattern. The markets may be benefitting from the CNBC interview with Warren Buffet and Jamie Dimon as they are optimistic about economic environment in their discussions regarding the need for long-term thinking on Wall Street.  Uptrend channel support in the e-mini S&P is seen at 2754 with a closer pivot at 2765.

E-mini S&P 500 Jun ’18 Daily Chart

E-mini S&P 500 Jun '18 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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