The tech sector is under pressure today ahead of Nvidia earnings. Treasury yields are slightly higher ahead of today’s FOMC meeting minutes and 20yr bond auction. Come see us at the Money Show Traders Expo in Las Vegas!
Transcript
“Good afternoon traders. It’s Chris Chavez with blue line futures here at the money show traders Expo in Las Vegas coming to you with another midday market minute. We have the NASDAQ leading the way lower here today in video earnings after the bell but before we get to it if you’re watching this video, like and subscribe if you’re here in Vegas, come and visit us here at the money show traders Expo, like and subscribe. If you have any questions reach out to our trade desk, we’re here for you. And getting into the markets here today the tenure yield trading a little bit higher here today, there wasn’t a lot of economic data that came out, you know, really influencing yields tenure yield trading up to about 430 basis points, or so as of this video. Now, I do want to highlight that we’re having a 20 year bond auction due at 12 Central Standard Time, along with FOMC Meeting Minutes, those are going to be catalysts that are definitely going to move yields, you know, depending on the demand that we get from the 20 year bond auction, again, looking at equity markets here today, we got the NASDAQ leading the way lower with yields slightly higher than the Russell is actually outperforming despite this move in yields, everybody is talking about in video earnings after the bell. And that’s definitely going to be a major headwind, you know as we’re trading lower here today, and Vidya is also one of the constituents inside of the index leading the way lower as well. Looking at crude oil, actually one of the only risk assets in the entire risk asset bucket leading the way higher here today, coming up on some major overhead resistance that we’re going to want to break and close above to see more upside. So some of these levels to pay attention to looking at the s&p a four star support level, I don’t want to see us break and close below this level, that’s going to be 4927 and a quarter to 4928 and a half. Looking at the NASDAQ another Forestar support level. I don’t want to see us breaking close below this it’s going to be 17 436 to 17 484. And looking at crude oil again coming up on some major overhead resistance we’ve been stuck in a range here for some time. We’re gonna get some inventories data later today as well. But three start resistance gonna be 7872 if we can break and close above here definitely looks like we could be on the verge of a breakout and gold in slightly in negative territory here today yields slightly higher it makes sense. And depending on what we get from an video earnings after the bell, you know, if you see a little bit of fear and risk assets, you could see gold catch a little bit of a bit but three star support is going to be 2023 and three tenths to 2026 and five tenths. Again, if you have any questions reach out to our trade desk we’re here for you. Remember, futures trading involves substantial risk of loss and is not suitable for all investors.”