RJO FuturesCast

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Indices

Stocks Still Climbing

Posted 09/20/2018 11:02AM CT | Jeff Yasak

Overnight global markets were generally mixed with the Shanghai and Australian markets showing small losses, with most other markets clawing out minor gains.  The technical bias in the markets remains strong as the fear of the US/China trade war is not damaging investor sentiment.  It might be too early to suggest but is possible that the beginning of inflation is being embraced by investors as a positive, improved pricing capacity by companies can add to profits.   With the E-mini S&P sitting within relative reach to all-time highs and investors unruffled by US/Chinese trade wrangling the path of least resistance remains up.  Close in support is at 2900 while resistance comes in at 2920.

E-Mini S&P 500 Dec ’18 Daily Chart

E-mini S&P Sep '18 Daily Chart

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Jeff Yasak

Senior Market Strategist
Jeff studied finance at the University of Wisconsin-Madison and at Loyola University. He left the corporate world in 1995 to pursue his dream of working in the financial markets. Jeff's trading career began as a clerk in the S&P 500 pit at the Chicago Mercantile Exchange. This is where he developed a great interest in the options market that led him to the retail futures business. Jeff spent a few years as a broker's assistant before managing clients of his own.
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