RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

September S&P finished up 43.9 at 2484, -18.2 off the high and 37 up from the low. September S&P E-Mini closed up 23.5 at 2463.5. This was 22 up from the low and 3 off the high.


Given that the S&P 500 was hammered last week, a measure of technical short covering today was not surprising in the wake of a relatively calm geopolitical headline flow on the North Korean situation. However, North Korea enters its liberation day holiday on Tuesday and that might bring about fresh threats from the North Korean leader to a sympathetic domestic audience. In other words, stocks need to be careful assuming that there will be smooth water for an extended period of time ahead.

Hightower Report