Tue, 03/23/2021 – 10:22
E-mini S&P 500 Futures (June): Settled at 3930, up 30.25
E-mini Nasdaq-100 Futures (June): Settled at 13,071.75, up 227.25
U.S. benchmarks fought waves of selling ahead of the bell. Price action has trickled lower since the S&P failed to hold above major 3-star resistance going into the final hour of trade yesterday. News that AstraZeneca’s vaccine proved 79% effective buoyed sentiment for much of the session despite fresh lockdown measures imposed across Europe. Today, that narrative has flipped.
Late last night, a U.S. health agency questioned the validity of AstraZeneca’s vaccine trials, saying the results included outdated data. To make matters worse, Germany followed through and announced a strict 5-day lockdown over Easter. Risk assets tumbled overnight with Crude Oil leading the way.
This morning, Dr. Fauci, who also heads the U.S. agency that made the statement, joined Good Morning American and said, “this [AstraZeneca vaccine] is likely a good a very good vaccine, and the press release was not quite accurate.” Although U.S. benchmarks are off session lows, sentiment hasn’t bought the comments.
Fed Chair Jerome Powell and U.S. Treasury Secretary Janet Yellen are front and center today as they began their 2-day Congressional testimony at 9:00 a.m. CT. Here, they’ll defend their calls for unprecedented stimulus measures while discussing the state of the U.S. economy. The yield of the 10-year Note has touched a 4-day low of 1.626% amid safe haven buying and a consolidation from oversold prices.
Theirs won’t be the only comments to pay attention to as Atlanta Fed President Raphael Bostic, a 2020 voter, spoke at 8:00 a.m. CT along with St. Louis Fed President James Bullard. Bostic spoke again at 9:10 a.m. CT and Richmond Fed President Thomas Barkin, a 2020 voter, spoke at 10:00 a.m. CT. NY Fed President John Williams speaks at 1:45 p.m. CT and Fed Governor Lael Brainard follows with a speech on the U.S. Economic Outlook and Monetary Policy at 2:45 p.m. CT.
Interested in our technical perspective? Please sign up to have Blue Line Futures technical outlook, actionable bias, and proprietary levels emailed to you each day.
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.