Emini Futures Trading / Up To My Neck I Tell You!

E-Mini S&P 500: The neckline is revisited!

The E-Mini S&P 500 seems to be revisiting the neckline of our previous head and shoulders formation!  $1341.00 is about 38 % of a retracement. The chart is temporarily still in a buy mode, but a potential sell mode may be anticipated. This week is all about the jobs, now that the announcement of the raid on terrorist leader Osama Bin Laden is behind us. It still remains to be seen as to the details of the raid.  Today, the ISM Non-manufacturing Index fell to 52.8 last month from March’s 57.3, below analysts’ expectations. We needed 50 to show growth. Applied Materials Inc., a chip equipment maker, is offering to buy Varian Semiconductor Equipment Associates Inc. for $53  per share to upgrade their technology.  Varian shares were up 51 % while Applied Materials slipped 1.1%. ConAgra Foods Inc. upped their offer to buy Ralcorp Holdings Inc.

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Emini Futures Trading / Back To The Future?

E-Mini S&P 500: Will we return to prices of 10 years ago?

The onslaught of news that Osama Bin Laden has finally been neutralized takes me back to May of 2001and does the market cycle? Well the high of May 2001 was $1335.00 and from the E-Mini S&P 500 chart of today, we may be heading back to that zone. Hopefully, we will not have any other repeated occurrences of that year. Today, the US March Factory Orders were up +3.0 % showing a more healthy recovery as this was the fifth straight month reflecting an increase. The increases in the Crude Oil actually had more of a positive note in our earnings reports as US Automakers, GM and Ford Motors have increased sales due to sales of fuel efficient cars. Other earnings reports due out later by Toyota and some Japanese Car makers may not bode as well with the earthquake in Japan having impeded the production of parts. Earnings reports were mixed today as MasterCard Inc.

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Emini Futures Trading / Ding Dong Bin Laden Is Dead

Or Is He?

S&P 500 Emini: The E-Mini S&P 500 had a spike last evening on the news of a dispatched leading terrorist “Osama Bin Laden” by US Forces, who has been known for such attacks as 911. The market took the news as a positive for the US Government. President Barrack Obama had a boost for his next political campaign.  Some Americans may be skeptical as no US Government pictures, videos or body have been released. It was said that the body of the deceased had been buried at sea. It is the demise of one terrorist that created our rally last evening and even as it was short-lived, one terrorist at a time may still help investor sentiment. President Obama may re-structure the US involvement within the Middle East with this last deployment. It is likely that we will be seeking to unite all people in peace to combat any adverse thoughts toward this military action. It is May and we did not go away!  It will be crucial to see some positive economic reports this week. US ISM Index was 60.4 in April verses the 61.2 in March. Construction Spending was up 1.4 % to an annual rate of $768.9 billion. It has been feared that the high prices of Crude Oil and other products may in fact keep spending down. We look to monitor the inflation during these times as often it will lead to hindered profits for companies. 

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Emini Futures Trading / Markets Surge On Earnings

E-Mini S&P 500: The stirrings on the earnings foster the surge up!

The E-Mini S&P 500 is in the whirlwind of earnings reports coming in to inspire and elate traders! The Dow Jones Transportation Average was up 1.2 percent to 5,510.06 which is made up of airlines, shippers, railroads and truckers. This particular area is of concern with the rising oil costs and a positive report is very appealing in this inflationary environment. PepsiCo Inc. and Coca Cola reflected earnings above the forecasts. Other companies such as Procter & Gamble lowered their profit forecast due to the higher cost of doing business. We are encountering an array of mixed economic reports and earnings report. It is important to keep up with market sentiment, but not to over analyze the fundamentals  as the market may act independently of these reports. Insurance companies are reporting stronger earnings beyond analyst expectations.

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Emini Futures Trading / Oh Snap!

E-Mini S&P 500: Beware the rubber band!

The E-Mini S&P 500 extended yet another day on Federal Chairman Ben Bernanke’s words of continued support today! He suggested that the moderate pace of the recovery with the light inflationary concerns was still on target. The $600 billion dollar bond-buying program will expire June 30, but the money should be reinvested again perhaps. The “extended period” is still in place and with the US Federal Government support, the rally ensued in the E-Mini S&P 500. The US Federal Government is aware of the warning from Standard & Poor’s potential downgrade, but is modestly optimistic with the long-term plan and potential progress. In the midst of some fairly positive earnings reports, up seemed like the only way to go. General Electric rose 3.2%  to $20.75.  Boeing Co. rose 0.8% to $76.17. Whirlpool rose 0.3% to $88.14.  About 220 companies of the S&P 500 reported earnings of which 73% were above expectations.

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Emini Futures Trading / QE3 Anyone?

E-Mini S&P 500: Earnings take us over the top!

We have about 35% of the earnings reports in according to Thomson Reuters and 76% so far are better than analysts anticipated.  UPS rose 1.2% to $74.49. Shipping companies represent the barometer of business as they deliver goods internationally. 3M rose 1.9% to $95.94.  Ford Motor Co. was up 3.1% to $16.03. Looking forward to Federal Chairman Ben Bernanke’s commentary on the meeting tomorrow, we have some concern that any potential stimulus withdrawal may have a negative effect on the Stock Market.

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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.

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Emini Futures Trading / Good Wednesday

E-Mini S&P 500: A picture is worth a thousand words!

So here's a novella in .jpg format....

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Emini Futures Trading / Inside Day Drifts Higher

E-Mini S&P 500: An Inside Day of mixed views!

The E-Mini S&P 500 withstood the Standard & Poor’s credit rating agency on Monday cautioning that they may have to downgrade the US AAA rating in the US Treasury debt unless the Federal Government is able to contain the budget deficit within the next two years. The news broke and so did the market for that matter as the E-Mini S&P 500 had slipped to $1290.25. The market was fragile to begin with and volume has been light. In the meantime, the Fed still continues with the QE2 through June 30th  with sort of a “wait and see” attitude. It seems highly unlikely that any policy changes would take place this year.

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