First Call

First Call May 12, 2020

May 12, 2020

Thomas Thornton

  • S&P futures up 0.3% after a choppy but largely uneventful session on Monday in which the major indexes put in a mixed performance.
  • Asian markets mostly lower overnight with Hong Kong, Taiwan, and Australia the big decliners while China and Japan saw only slight pullbacks.
  • European equities mostly higher.
  • Treasuries are unchanged to firmer at the back end.
  • Dollar weaker on the major crosses following Monday's strength.
  • Gold up 0.6%.
  • WTI crude up 5.6%.
  • I added a few extra S&P futures charts illustrating the recent chop within the range
  • Nasdaq Composite will be the first major US index with an upside DeMark Sequential sell Countdown 13
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