SubscribeDaily Futures Commentary June 1, 2009
Monday June 1, 2009
The way of least resistance appears to be up in the stock index futures. Equity markets seem to be looking forward to a strong economy 6-9 months down the road. The more investors seem to be waiting for a correction; the least likely it will occur.
Now that solid support has been established in the June E-mini S&P 500 at 876.75, this market appears to be poised to challenge the high for the year at 938.25. The key to trading this market today will reading a breakout rally through this price correctly. Upside momentum has to be there when the market breaks through this level. Any hesitation will scare traders out and may trigger the start of a substantial correction back to at least 907.00. There has to be enough upside momentum to make investors think they are missing the rally. This panic buying could be strong enough to launch a huge rally today.
Don’t forget to rollover to the September Treasury Bonds and September Treasury Notes. The bias in these two markets is to the downside. Investors remain convinced that excess supply from the Treasury will keep …
Read More …
Loading ...
