Despite treasury yields pushing higher, equities are rallying. The Russell is leading the way higher, and NY Empire State Manufacturing Data comes in better than expected.
Good afternoon traders. It’s Chris Chavez with the blue line futures and it’s your daily midday market minute. Equities are seeing a broad based rally here today despite Treasury yields pushing higher. But before we get to it, if you’re watching this video like it, subscribe if you’re on our website, there’s also a link to direct you to YouTube and you can subscribe that way.
We’d love for you to follow us. We’d love for you to help us build our following. So yeah, we’re seeing a pretty broad based rally here looking at equity indices today, Russell is actually outperforming a lot of its peers. So, you know, despite all of that, Treasury yields are pushing higher. And we did get some data this morning.
New York Empire State Manufacturing Index, which did come in a little bit better than expectations. So perhaps the market’s starting to reprice some things. Good news may actually equal good news. We’ll have to see this coming week. We still have a lot of data to get through. We have, you know, retail sales, housing data. Housing starts going to be building permits as well.
So we’re going to want to stay nimble, pay attention to the support and resistance levels moving forward. Now, if we’re looking at the S&P major three star resistance that we highlighted in our morning research, 4415 and a quarter to 44, 18 and a half, Nasdaq three star resistance going to be 15 366 two 5392 Gold three star resistance is going to be 1940 and a half to 1945 and 6/10.
And crude oil, three star support is going to be 85, 56 to 85, 65. So we’re going to want to stay nimble Again, we have a lot of data coming out this week, still some data out of China. Industrial production numbers, too, certainly will impact how the metals are going to be trading. If you have any questions, reach out to us.
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