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« Emini FuturesCast / The Daily Pod 04/025/11 | Main | Emini FuturesCast / The Daily Pod 04/21/11 »
Monday
Apr252011

Emini Futures Trading / Markets Quiet Ahead Of Fed

E-Mini S&P 500: A quiet day ahead of the Fed!

The E-Mini S&P 500 post-holiday exhilaration seemed to fizzle even as New Home Sales rose 11.1 percent today! We were at an annual rate of 300,000 while February had been at a low of 270,000. Inflation is still playing havoc with the marketplace! Crude Oil prices hit a high of $113.48 having investors feel that the inflation fears will continue. This cost of doing business hurts some major companies such as Kimberly-Clark as they make Kleenex Tissues and Huggies Disposable Diapers.  These products are made with oil and with the high cost of oil their earnings projections are down.  Kimberly- Clark fell 2.7 percent to $64.24. The earthquake in Japan also affected production in the auto making industry. Johnson Controls fell 2.8 percent as their production could not keep schedule without necessary auto parts. As the earnings reports come in, we will see just how integrated our commodity products and manufacturing companies are integrated. It will probably come down to which products can impose increased pricing without the consumer changing to alternate products. It is likely that the food companies are best equipped to impose the higher costs. Any non-essential items may feel the brunt of the inflationary environment

Tuesday,  we look forward to Consumer Confidence at 9:00 AM CST.  

FOMC is Tuesday and Wednesday, we look forward to Fed Chairman Bernanke’s statement perhaps Wednesday at 1:15 PM CST.

 

BETWEEN the LINES
The markets were indeed quiet today but CFRN Partners had a little insight ahead of the action...


S&P Emini Futures / Zone to Zone to Zone
4 points down - 4 points up inside a 7 point range

 

Dow Emini Futures / Zone to Zone to Zone
35 points down - 35 back up

 

Euro 6E / Zone to Zone / 73 Pips

 

Russell / 3.8 pts down - 3.8 pts up /
Bottom Zone missed by 5 ticks

 

CFRN Traders had the Zones before the open...

You Can Too!


Tuesday,  what to expect!  We are technically still in buy mode on the Daily Chart. The E-Mini S&P 500 has paused for an inside to lower day today! Tuesday, we look for an inside to higher day!  Today’s range was $1335.25 - $1327.25. The market settled at $1330.75. Our comfort zone or point of control for this market appears to be $1332.25. Our anticipated potential range for Tuesday’s trading may be $1337.75  -  $1321.25.  The market stays bullish above $1321.25. The market may form a pennant before determining direction. The E-Mini S&P 500 is vulnerable to weakness at this point, but may have the ability to climb with some of the anticipated earnings forecasts. $1337.75 is the psychological ceiling for this market! Falling short of the break-out may make this fragile environment break. $1294.75  is hard support, any breaks below this level may create technical damage to the chart form.    

 

“Even if you’re on the right track, you’ll get run over if you just sit there”
- Will Rogers-

TAKE THE FREE TRIAL!

 

Best regards, 

Leslie Burton

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