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Market Review:
The last day of the September contract
In 24 hours, the September contract will expire. The September contract is trading 50 points below the December contract. The December contract is the current lead. The expiration for the futures contract will be early Friday morning. Currently the December contract is trading near the open of the 3rd Quarter at 4485.50.
In trading futures, don't forget the story. What is the market trying to do? If we are trying to keep the expiring contract above the open of the quarter, we need to understand its relationship to the current contract. In this case, add 50 to 4485.50 and you arrive at 4535.50. The 50-point difference is not exact so be careful. However, based on this information I would watch carefully when the December contract is trading around 4535.
Both the PPI and the CPI saw an increase in the standard number, and a decrease in the Core number. In the CPI the standard increased by 0.5% and the Core decreased by 0.4%. The PPI did something a little different. The Core PPI decreased by 0.2% and the standard PPI increased by 0.8%. That increase in the standard PPI is greater than expected. Pay Attention!
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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