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Friday
Apr012011

Emini Futures Trading / QE2 Party Over?

E-Mini S&P 500: 2nd quarter starts with a bang!

The E-Mini S&P 500 broke out to the upside on jobs reports that point to a stronger economy. It is the first day of the second quarter and with that comes the hope of an economic recovery on course. US ADP Jobs Report showed that the private employers actualized 201,000 jobs in March! The US Initial Jobless Claims fell by 6,000! Today, the Labor Department reported that 216,000 nonfarm jobs were added in March, well above expectations. One concern is that the Federal Government may possibly pull back on the QE program as it expires in June. The Quantative Easing and the rate of recovery on course may be potentially positive for the marketplace and commodities in particular. Next week looks to be  fraught with anticipation and a focus on the Federal Reserve statements. Most analyst do not believe the policywill be withdrawn.  The European Central Bank may have a rate hike as early as April 7th. It is still questionable as to whether some of the indebted countries would be able to withstand a hike. Inflation may be another factor to focus on as higher oil prices and food prices still pressure the US economy. It is reported that so far it has not resulted in higher payroll demands.

On the stocks front:  GM reported US Sales for its four brands was up 11.4%, but it was below expectations. Ford Motor Co. was up 19% and Chrysler Group LLC came in up 31%. Note with the increased oil prices, this is quite promising.   

Monday, there are no major US Economic Reports due out!

 

BETWEEN the LINES
Price on the S&P 500 Emini finishes the week inside of the Weekly Trading Zones 96% of the time.

 

Monday, what to expect!  We are technically still in buy mode and the market confirmed it today! For some reason, it seemed as though the fund activity had been sidelined for the moment. Allocations can support some more substantial swings in the market. As the jobs reports confirmed an economy on the road to recovery, the fund managers may allocate to the risk products in lieu of the safe-have products. We anticipate this market to have an inside to higher day on Monday! Today’s range was $1333.75 - $1320.50. The market settled at $1327.75. Our comfort zone or point of control for this market appears to be $1327.50. Our anticipated potential range for tomorrow’s trading may be $1320.50 -  $1338.50.  The market stays bullish above $1319.00.

Please note that timing is everything and while we may divulge a brief overview of what may affect tomorrow’s market, trade set-ups are strategically planned according to time and price action.  In this marketplace, a trader needs to arm themselves with the weaponry to deploy into a complicated marketplace.  The CFRN Live trading room is boot camp for your commodity future.

 

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Best regards,

Leslie Burton

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