Futures Steady Amid Tech Shakeup and Key Data Ahead

Morning Express

/ by Blue Line Futures

Futures Steady Amid Tech Shakeup and Key Data Ahead

E-mini S&P (June) / E-mini NQ (June)

 

S&P, yesterday’s close: Settled at 5553.00, up 3.25

 

NQ, yesterday’s close: Settled at 19,528.00, down 7.25

 

E-mini S&P and E-mini NQ futures were firm to start the week, battling back from a midsession lull to finish nearly unchanged at Friday’s elevated levels. Big tech saw a wave of profit-taking that began shortly after reports surfaced that Huawei had successfully tested its new AI chip, designed to compete with NVDA’s H100. Make no mistake, Huawei’s Ascend 910D is not NVDA’s H100 and requires at least five times the number of chips, more power, and a more stable network that can easily become strained to merely match NVDA’s H100. Outside of China, there is little need for Huawei’s technology, given that NVDA’s software is a competitive advantage, and the company has already moved onto the Blackwell model (B100 and B200) that provides significantly more compute and efficiency than even its own H100.

 

On the economic calendar, the Home Price data is due at 8:00 am CT, CB Consumer Confidence and JOLTS are due at 9:00 am CT, and an updated Atlanta Fed GDPNow is due at 9:30 am CT. Tomorrow, we get the Fed’s preferred inflation indicator, the Core PCE Index. 

 

Early weakness yesterday allowed the E-mini S&P and E-mini NQ to check Friday’s low range and affirm major three-star support at 5480.75-5492 and 19,216-19,257. However, it is notable that we have significant support above and below these marks, detailed below. Price action has backed off the morning’s highs amid the White House press conference discussing President Trump’s first 100 days. In order to maintain momentum from yesterday, we want to see price action regain our Pivot and point of balance in the first hour, inviting buyers above…

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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