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Market Review:
Coming back from a holiday Weekend
A little reminder about Monday holidays. The cash market has been closed since June 16th. It will open for the first time this week on Tuesday June 20 at 9:30am. Futures markets opened Sunday night, with the ES opening at 4458.00. Friday's close in the ES was 4459.00. The low since Friday has been 4432.00, which is 21 points lower than Friday's low of 4451.00. The high point since Friday has been 4462.00 set Sunday night.
Already in this extended session for US futures, we have set a 30-point range. The 20-day average range is 49 points. The market has the potential to open up more and move more into an average range type day. You can look for 49 points below 4462.00 to 4413.00, and or 49 points above 4432 to 4481.00 as big numbers for the market to track down.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
June 23 Manufacturing PMI
June 23 Services PMI
June 27 Consumer Confidence
June 29 GDP (Final)
July 3 ISM Manufacturing PMI
Key Numbers Opens: Above or Below
4458.00 is the open of the Week
4349.75 was the open of last 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!
Reporting after Bell today.
FedEx Corporation (FDX) Reports after the bell today. FDX opened the year at 174.97. They opened the quarter at 227.32, and they opened the month at 217.51. FDX was up at 238.00 on Friday but dropped a little into the close. FDX can give us a peak into overall economic performance. FDX ended their fiscal year in May, so the guidance offered this time should be inclusive of expectations for fiscal year 2024.
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.
RISK DISCLAIMER There is a very high degree of risk involved in trading.. DTI Trader and all individuals affiliated with this site assume no responsibility for your trading results. The indicators, strategies, columns, and all other features are for educational purposes only and should not be construed as advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein.
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