S&P 500 and Dow Jones futures advanced to new historical highs today.
The 8:45 central time September manufacturing PMI is expected to be 53.
The 9:00 September Institute for Supply Management manufacturing index is anticipated to be 58 and the 9:00 August construction spending report is estimated to be up .3%.
The computer models that I use, which have been back tested to the early 1920s, continue to generate bullish signals for stock index futures.
The main trend for stock index futures is higher.
The U.S. dollar is higher due to recently increased expectations of a fed funds rate hike in December. In addition, the greenback is being supported by prospects of significant tax cuts in the U.S.
The U.S. dollar is in a major resistance area.
The euro currency is lower due to political unrest in Spain. The euro is under pressure in spite of signs of upbeat factory growth in the euro zone.
The final manufacturing PMI for the euro zone increased to 58.1 in September, which is the highest level since February 2011.
The British pound is lower despite news that a survey of the U.K.'s manufacturing sector was lower, but was better than expected.
The Japanese yen is lower in spite of news that Japan’s business confidence came in at a 10 year high, according to the Bank of Japan's quarterly tankan survey.
Dallas Federal Reserve Bank President Robert Kaplan will speak at 1:00.
According to financial futures markets, the probability that the Federal Open Market Committee will increase its fed funds rate at the December 13 meeting is 78%, which is unchanged from Friday.
The long term fundamentals for futures are mixed.
December 17 S&P 500
Support 2513.00 Resistance 2525.00
December 17 U.S. Dollar Index
Support 92.840 Resistance 93.550
December 17 Euro Currency
Support 1.17710 Resistance 1.18710
December 17 Japanese Yen
Support .88650 Resistance .89260
December 17 Canadian Dollar
Support .79810 Resistance .80350
December 17 Australian Dollar
Support .7781 Resistance .7851
December 17 Thirty Year Treasury Bonds
Support 152^0 Resistance 153^4
December 17 Gold
Support 1271.0 Resistance 1286.0
December 17 Copper
Support 2.9400 Resistance 2.9950
November 17 Crude Oil
Support 50.03 Resistance 51.88
For more information about these markets, please contact Alan at 312.242.7911 or via email at firstname.lastname@example.org. Thank you.
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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The risk of loss in trading futures and options can be substantial. The views and opinions expressed in this letter are those of the author and do not reflect the views of ADM Investor Services, Inc. or its staff. Research analyst does not currently maintain positions in the commodities specified within this report. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright © ADM Investor Services, Inc.
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This is not a solicitation of any order to buy or sell, but merely a collection of information related to Archer Financial services and commodities trading provided by Archer Financial services. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor do they purport to be complete. No responsibility is assumed with respect to any such element, nor with respect to any expression of opinion herein contained.
The risk of loss in trading futures and options on futures can be substantial. Each investor must carefully consider whether this type of investment is appropriate for them. Past performance is not necessarily indicative of future results.