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Market Review:
Rollover Week
This weekend we will be rolling index futures from the June contract to the September contract. There is currently a 43 point difference between the two contracts. That's roughly 1% for the ES futures. In the NQ the Sept. contract is 176.5 points higher, roughly 1.2%. In the YM the June contract is 278 points higher, roughly 0.83%.
In the ES, this means when the market rolls over, if we are still trading near the highs we will automatically jump to a new high of the year.
If we do start to see a pullback, 43 points lower than the current high of the ES would be 4262.75. The current low of this week is 4268.50. Keep in mind, under guidelines from the CME, the June contract rolls to the September contract after the close on Friday.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
June 13 CPI
June 14 PPI
June 14 FOMC Announcement and Press Conference
June 15 Retail Sales
Key Numbers Opens: Above or Below
4292.25 is the open
4288.00 is the open of the Week
4188.50 is the open of the Month
4127.00 is the open of the 2nd Quarter
3895.00 is the open of 2023
What's Hot and Not!
MMM
The high of May was 106.83. The current high of June is 104.55. The high this week is 102.49, and yesterday's high was 99.63. 3M is experiencing some short-term resistance. The open of June is 93.47, and the low this month is 92.38. That also happens to be the low of the year.
Past performance is not indicative of future results. Futures trading involves substantial financial risk.
Please consult your personal financial advisor before using this information for your own trading purposes.
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