E-mini S&P (December) and E-mini NQ (December). S&P, yesterday’s close: Settled at 5738.50, down 113.50.
NQ, yesterday’s close: Settled at 20,021.75, down 513.00.
Exxon and Chevron both report higher ahead of the opening bell. Exxon missed top-line estimates but exceeded EPS expectations and increased its dividend. Chevron surpassed estimates and returned $7.7 billion to shareholders through buybacks and dividends.
E-mini S&P and E-mini NQ futures are recovering from yesterday’s late session losses, yet face challenges in stabilizing the market. The market’s pullback yesterday was considered healthy, but the direction from here is crucial for maintaining this status. There is significant support at 5738.50-5748 for the E-mini S&P and at 19,990-20,025 for the E-mini NQ. The market’s response to these levels is pivotal. Failure to do so could result in a bearish weekly close, leading to increased risk aversion ahead of the election.
To counteract yesterday’s market downturn, a close above these levels is necessary. Stay informed with our daily Morning Express, offering essential insights into stocks and equities, including the S&P 500, NASDAQ, and more.
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E-mini S&P (December) and E-mini NQ (December). S&P’s yesterday’s close: Settled at 5738.50, down 113.50. NQ’s yesterday’s close: Settled at 20021.75, down 513.00. After a flood of earnings, the October Nonfarm Payroll report takes center stage. Expectations are for 106k jobs created, Wage Growth at +0.3% m/m and +4.0% y/y, and the Unemployment Rate remaining unchanged at 4.1%. Moreover, the October Manufacturing slate follows with final SPGI at 8:45 am CT and the closely watched ISM report at 9:00 am CT. Earnings from Apple and Amazon both exceeded estimates after the bell yesterday. Apple is slightly lower due to an EU tax ruling that slowed profitability. Both the crucial Services segment and China revenue fell short of expectations. Amazon is +7% premarket after an outstanding quarter with strong margins and firmer guidance on operating income.
Exxon and Chevron are both experiencing gains prior to the opening bell. Exxon, despite missing top-line estimates, exceeded EPS expectations and raised its dividend. Chevron, on the other hand, not only beat estimates but also returned $7.7 billion to shareholders through buybacks and dividends.
E-mini S&P and E-mini NQ futures are recovering from yesterday’s late session losses, but they face challenges to neutralize the market trend. The market’s pullback yesterday was considered healthy overall, but the direction from here is crucial for maintaining this health. Significant support levels are identified for the E-mini S&P at 5738.50-5748 and for the E-mini NQ at 19,990-20,025. A failure to respond positively to these levels could lead to an unattractive weekly close, potentially prompting further risk reduction ahead of the election.
To begin neutralizing yesterday’s market breakdown, a close above these support levels is necessary. For those interested in staying abreast of market movements, subscribing to our daily Morning Express provides essential insights into stocks and equities, including detailed coverage of the S&P 500 and NASDAQ.
Expert technical analysis, proprietary trading levels, and actionable market bias are delivered directly to your inbox with our Free Futures Market Research from Blue Line Futures.
Futures trading involves a substantial risk of loss, which may not be suitable for all investors. It is crucial to carefully consider whether such trading aligns with your financial condition.
Our trading advice is based on information from trade and statistical services and other sources that Blue Line Futures, LLC considers reliable. However, we do not guarantee the accuracy or completeness of this information, and it should not be relied upon as such.
Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we provide will lead to profitable trades.
All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, it is important to note that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products, transactions, or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With cyber-attacks on the rise, targeting firms in healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Our employees use only firm-authorized email addresses and phone numbers for communication.
Performance Disclaimer: Hypothetical performance results have many inherent limitations. Some of these limitations are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading.
If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312-278-0500.For instance, the capacity to endure losses or adhere to a specific trading program despite trading losses are significant points. These can also negatively affect actual trading results. There are numerous other factors related to the markets in general or the implementation of any specific trading program. These cannot be fully accounted for in the preparation of hypothetical performance results and all of them can adversely affect actual trading results.
