Line In the Sand Is Drawn | Morning Express 9/16/2022

Posted: Sept. 16, 2022, 9 a.m.

image

Bill Baruch joined the TD Ameritrade network to kick off Friday morning and discuss markets broadly. Do not miss it!

 

- Quadruple Witching is today. Futures and futures options expire at 8:30 am CT.

- Noted on Tuesday’s Morning Express: After May’s CPI data in June, it took the S&P five sessions (including CPI day) to bottom out. Five days takes us to Monday, which is the Monday after Quadruple Witching. Mondays after Quad have brought some of the most historic bottoms in the market; December 2018 and March 2020, to name two. Additionally, the days around Quad have marked many turning points, such as March and June of this year.

- FedEx is -20%, issued a profit/revenue warning and plans to close 90 locations after the bell yesterday. Cratered an already negative tape.

- Slate of Chinese economic data last night for September marginally beat expectations and improved from July, highlighted by Industrial Production and Fixed-Asset Investment.

- Fresh Michigan Consumer data for September due at 9:00 am CT.

- U.S. 10-year yield hit a hit of 3.484% overnight, a shade under June 14th 3.497%

- U.S. 2s-10s retesting monumental low of -0.50bps, chart below.

 

image

The U.S 2s10s spread is retesting a historic line in the sand.

 

 

image

S&P futures daily chart. The breakdown into Quad Witching is clear, but there is support to eye early next week.

E-mini S&P (December) / NQ (December)

S&P, yesterday’s close: Settled at 3919.25, down 46.25

NQ, yesterday’s close:Settled at 12,007.50, down 214.75

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.


NQ (December)

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.


Crude Oil (October)

Yesterday’s close: Settled at 85.10, down 3.38

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.


Gold (December) / Silver (December)

Gold, yesterday’s close:  Settled at 1677.3, down 31.8

Silver, yesterday’s closeSettled at 19.269, up 0.30

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.


Silver (December)

Levels Premium

🔒 You need to be a Premium User to unlock this content. Click here to unlock.



First Two Weeks Free!
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures
Don't have an account with Blue Line Futures?
If you have any questions about markets, trading, or opening an account please let us know! You can email us at info@BlueLineFutures.com or call 312-278-0500.

Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete 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 give will result in 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, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or 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, attacking firms in the 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. Blue Line Futures employees use only firm authorized email addresses and phone numbers. 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


Crude Oil Gold Stocks Silver Nasdaq

Like this post? Share it below:


Back to Insights