Equity

Stocks Looking Flat This Morning

Posted 04/09/2021 9:42AM CTJeff Yasak

Stock futures are trading flat this morning but are still poised to record another big weekly gain, continuing its longest winning streak since October.  Early trading saw a slight increase of 0.1% after setting a 19th all-time high on Thursday.  This would be the third straight week of gains, a first in six months.  Jerome Powell spoke this week on how the Federal Reserve was looking for “actual progress’ rather than “forecasts” for progress toward the central banks employment and inflation goals.  He also reiterated that they would like to see a “string of moths” with a strong job report before considering a pull back on its current asset purchase policy. Last week had seen an increase of non-farm payrolls of 916,000 in March, the fastest growth since August.

Support today is 408000 and 406500 with resistance showing 410500 and 411500.

E-mini S&P 500 Jun ’21 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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