RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Global markets have found their footing, but have been unable to shake off lukewarm risk sentiment coming into this morning’s trading.  The Shanghai composite finished near unchanged levels, the Nikkei 225 posted a modest loss, and Japanese equities continue to be pressured by safe-haven inflows to the yen. Australian GDP was in line with forecasts, while German factory orders fell short of trade estimates. European shares are under moderate pressure this morning and led by weakness in the UK FTSE-100. The North American session will start out with weekly private surveys on same-store sales and mortgage applications. With so many short term factors to spark economic uncertainty, the market looks vulnerable to see lower values ahead. Traders are getting nervous over the many steps the US congress needs to take in order to “not” disrupt financial stability. In addition, Hurricane Irma brings about new financial uncertainties due to the size of the storm and likely costs of damage and productivity. Given the disruptions and uncertainties over the debt ceiling, investors tend to get nervous that many stocks are priced for perfection, which could lead to a technical correction, and possibly a more significant correction. Watch for more back and fill action in the S&P. Short term resistance is at 2466 and 2470 with support coming in at 2443 and 2431.

Sep ’17 Emini S&P Daily Chart

Sep '17 Emini S&P 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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