Weekly Commodity Futures Market Analysis | Optimus Futures Blog

Chart Analysis and News for the Futures Market: Week of 10/23/2016

The analysis below is our opinion and any reliance on the numbers is done at your own discretion. There is a substantial risk of loss in futures trading.

So far, of the 80% of the companies in the S&P500 that have reported earnings for Q3 in 2016, 80% beat their earnings estimates and close to 70% exceeded revenue projections. A question going forward during this earnings season is that if the remaining companies fail to beat earnings expectations during a low-interest rate environment, what does this mean for a potential December rate hike?

Low commodity prices put pressure on energy stocks and the S&P500 E-mini futures traded mostly sideways during last week. Price is now trading at an even narrower range between the 20-period moving average at 2140 and the 2100-2020 support area. As indicated, there are lots of uncertainty factors right now with the presidential debate, earnings season and low commodity

 

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Chart Analysis and News for the Futures Market: Week of 10/16/2016

The analysis below is our opinion and any reliance on the numbers below is done at your own discretion. There is a substantial risk of loss in futures trading.

Last week, good US retail sales number and worse than expected consumer sentiment data made for a mixed week. On Tuesday, the S&P E-Mini Futures had a big down day and during the rest of the week, price just kept ranging at the 2130 area without any direction and lots of volatility. The trendline, which met up with the 100-day moving average, is being tested right now and the area price has entered is non-directional which means that price is stuck between support and resistance areas.

Price is now, once again, close to the 2100 support area which all traders will be watching next week. Expect to see lots of volatility once price reaches the area. On Tuesday, CPI data is being

 

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Chart Analysis and News for the Futures Market: Week of 10/10/2016

The US is entering earnings season this week and price could finally get the push that is needed to get the E-MINI FUTURES out of their range.  The presidential debate could also further influence the direction of the stock market and analysts suggest that a win of Hillary Clinton could, potentially, mean more bullishness for stocks.

For now, no direction can be identified on the E-mini and price keeps drifting sideways in its narrow range.

Emini SP

 

The US-Dollar rallied ahead of the NFP but came short of the 97.55 resistance area. Slower than expected job growth put an end to the rally and the Dollar fell on Friday. Slower job growth could also mean less chances for a December FED hike which

 

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Chart Analysis and News for the Futures Market: Week of 10/03/2016

The S&P 500 continued to trade in its narrow range between 2175 and 2125 over the past 2 weeks. Growing concerns about the banking system in Europe, and Germany in particular, did not affect trading activity in the US – yet.

Yellen does not sound too optimistic about a December rate hike and unless we are seeing some more positive economic data soon, which most analysts don’t expect to happen, no additional rate hike is probably the likely outcome.

This week, employment and NFP data will be released and traders will pay close attention to the report, especially with regards to the FED talk. The fear and greed index is at 50 which means neutral and the charts confirm that with the narrow range trading. Market participants are obviously hesitant and waiting for a new impulse and more data. Although

The fear and greed index is at 50 which means

 

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