What a difference a month makes, just 30 days ago the bean and corn markets were pushing near all-time highs with thoughts of another 10% surge, there wasn’t many anticipating that the 10% move would be lower. The seasonal tendency all points towards September being a dismal month to be long grains, but this year was different…right? Apparently not. So what does the market do from here?
The overnight markets have attempted once again to recover from some of the punches it has taken in the gut over the past few weeks. It’s amazing to look back at seasonal trades and think “why didn’t I respond to what history has taught me”? One of the biggest seasonal trades in grains is to sell the market through September, this has been no different yet on September 1st the perception was that this year is different. Well if we look back at history again there is typically a quick 50% retracement of the September losses during the first few weeks of October.
Welcome to Tuesday’s Morning Coffee Break – History repeated itself as the Dow Jones dropped for the 15th Monday out of 16th weeks. U.S. futures are suggesting positive opening in early electronic trading with the Dow Jones fair value at 18.08, S&P 500 fair value 1.66 and the NASDAQ’s fair value coming in at 4.12.
Welcome to today’s Morning Coffee Break – U.S. futures are under pressure today as traders become fearful once again of global growth outlook after China reported its 11th consecutive disappointing Purchasing Managers Survey (PMI) of 46.3 for the month of August.
Welcome to today’s Morning Coffee Break – traders had a case of Deja vu yesterday as the U.S. markets traded similar to last week ahead of the European Central Bank (ECB) and U.S Federal Reserve meetings. U.S. futures are indicating a positive opening today with the Dow Jones fair value of 30.36, S&P 500 fair value of 2.33 and the NASDAQ’s fair value currently at 5.37.
Welcome to today’s Morning Coffee Break – U.S futures are indicating a lower open with fair value for the Dow Jones at -23.10, S&P 500 at -2.24 and the NASDAQ fair value at -5.84. Market participants will get to hear from two Federal Reserve officials throughout the day today.
Welcome to today’s Morning Coffee Break – On the first day of trading this week traders are waking up to lower futures in the U.S. stock indexes after last week’s rally sparked by the Federal Reserve’s aggressive new round of quantitative (QE3) easing last week Thursday.
Welcome to today’s Morning Coffee Break – The Federal Reserve decisively stepped off the sidelines with a stronger than expected new round of unlimited quantitative easing (QE3) sending U.S. markets rallying. Market participants are clearly satisfied with the FMOC’s move as U.S. futures are indicating an extension of yesterday’s rally.
Breaking News – Advanced Micro Devices warns prior to earnings announcement.
China’s June Consumer Price Index (CPI) and Producer Price Index (PPI) data release overnight are mixed.
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