E-mini S&P (September) / E-mini NQ (September)
S&P, yesterday’s close: Settled at 5625.25, up 3.75
NQ, yesterday’s close: Settled at 20,659.75, up 39.00
E-mini S&P and E-mini NQ futures settled at a fresh record highs to kick off a long week that begins heating up today. Fed Chair Powell visits Congress for his first of a two-day testimony at 9:00 am CT,...
Gold (August) / Silver (September)
Gold, last week’s close: Settled at 2339.6, up 3.0 on Friday and 8.4 on the week
Silver, last week’s close: Settled at 29.56, up 0.304 on Friday and down 0.382 on the week
Gold and Silver futures failed to respond to a barrage of supportive economic data through the end of the week, and despite a positive finish, it felt more...
Crude Oil (August)
Last week’s close: Settled at 81.54, down 0.20 on Friday and up 0.81 on the week
WTI Crude Oil futures have been building a floor out above the psychological $80 mark. The June 18th breakout above 80.11-80.61 has failed to extend gains significantly but has remained robustly constructive above support. Headwinds have come from the fear of...
E-mini S&P (September) / E-mini NQ (September)
S&P, last week’s close: Settled at 5521.50, down 24.50 on Friday and 12.75 on the week
NQ, last week’s close: Settled at 19,927.25, down 112.25 on Friday and 55.50 on the week
E-mini S&P and E-mini NQ futures set fresh intraday highs on Friday but quickly faded after trapping those who bought on the heels of...
Gold (August) / Silver (September)
Gold, yesterday’s close: Settled at 2344.4, up 13.2
Silver, yesterday’s close: Settled at 29.525, down 0.089
Gold and Silver futures are again on their backfoot. Despite a firm tape overnight, comments from Fed Governor Bowman that it is not time to cut rates, even pointing to the possibility of hikes in the case of...
Please note the chart above is continuous front-month Crude, and we are referencing the August contract below.
Crude Oil (August)
Yesterday’s close: Settled at 81.63, up 0.90
WTI Crude Oil futures rebounded well to start the week, responding to a critical area of technical support. Furthermore, the healthy consolidation at and above the psychological $80...
E-mini S&P (September) / E-mini NQ (September)
S&P, yesterday’s close: Settled at 5517.00, down 17.25
NQ, yesterday’s close: Settled at 19,750.75, down 232.00
E-mini S&P and E-mini NQ futures finished lower to start the week but there was a stark difference in price action across sectors. The E-mini S&P’s -0.3% was certainly dragged by tech with the SMH...
Despite recent inflation slowdowns, we anticipate a new era where the consistent demand for raw commodities triggers temporary supply disruptions, potentially leading to significant returns for investors in tangible assets. While Crude Oil offers the broadest inflation protection and Gold protects against stagflation (rising inflation with declining economic...
Gold (August) / Silver (July)
Gold, last week’s close: Settled at 2349.1, up 31.1 on Friday and 24.1 on the week
Silver, last week’s close: Settled at 29.472, up 0.406 on Friday and 0.032 on the week
Silver futures corrected more than 12% from the May peak, and we could have seen a constructive capitulation on Thursday and Friday. We have always said the...
Please note that the chart above is the continuous front-month Crude, and we are referencing the August contract below.
Crude Oil (August)
Last week’s close: Settled 78.26, up 0.11
August WTI Crude Oil futures are front month and price action has consolidated terrifically out above the 21-day moving average since last Monday’s strong session. However, as...
Please note, we are referencing the June futures and do not roll until Tuesday of each quarterly expiration week.
E-mini S&P (June) / E-mini NQ (June)
S&P, last week’s close: Settled at 5437.50, down 1.00 on Friday and up 81.75 on the week
NQ, last week’s close: Settled at 19,685.50, up 83.00 on Friday and 647.75 on the week
The E-mini S&P and E-mini NQ...
Gold (August) / Silver (July)
Gold, yesterday’s close: Settled at 2327.0, up 2.0
Silver, yesterday’s close: Settled at 29.874, up 0.434
Gold and Silver futures have faced tremendous headwinds from all angles. Friday’s obliteration began after data showed People’s Bank of China did not add to its Gold reserves in May, breaking a streak of 18 straight months....
The chart above is continuous front-month Crude Oil futures. We are referencing the July contract below.
Crude Oil (July)
Yesterday’s close: Settled 77.74, up 2.21
WTI Crude Oil futures notched a fantastic start to the week, gaining 2.93%. It is no coincidence the gain comes on the heels of a strong U.S. Nonfarm Payrolls report on Friday. We have spoken...
E-mini S&P (June) / E-mini NQ (June)
S&P, yesterday’s close: Settled at 5371.25, up 15.50
NQ, yesterday’s close: Settled at 19,109.75, up 72.00
E-mini S&P and E-mini NQ futures consolidated below their respective record highs set in the post-Nonfarm Payrolls rebound Friday. Given yesterday's lack of additional enthusiasm, today could provide a nice range trade...
Soybeans
Technicals (July)
July soybean futures had an impressive rally on Thursday, taking prices up to the 50 and 100 day moving averages, which happened to align with the 50% retracement from the April lows to the May highs. The market not only fell flat here but straight up rejected it as prices proceeded to erase the whole rally in Friday's trade. It's...
Corn
Technicals (July)
July corn futures had a bit of a wonky trade last week, falling under heavy pressure in the first half but staging an impressive rally on Thursday to negate those losses, only to fall flat on Friday against our pivot pocket from 448-451. This pocket will be the first hurdle for the Bulls to overcome in this week's trade, representing...
Soybeans
Technicals (July)
Like corn, July soybeans marked their sixth consecutive lower close yesterday, which by just quickly looking at it appears to be the longest losing streak since March of 2023. The fact that the RSI (relative strength index) only got to 38 yesterday is a bit of s shocker. Typically, a reading below 30 is what market technicians refer...
