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Stock Index Futures Performing Well on Mostly Bearish News

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U.S. stock index futures are higher despite rising tensions between Washington and Beijing.

On the June S&P 500 futures charts there is a double top on the weekly chart and a triple top on the daily chart.

There are no major economic reports scheduled for today.

Overall, stock index futures continue to perform well for the news in recent weeks.


The euro currency is higher after Germany's central bank published a positive report on the impact of the European Central Banks bond-buying program. This report came out two weeks after a German court demanded additional information about the program's economic justification.

The British pound is lower after a report showed retail sales in the U.K. fell by a record 18.1% in April. The volume of retail sales declined 22.6% year-over-year from April 2019.

Consumer confidence in the U.K. fell to the lowest level in a decade in May compared with the end of April.

The Bank of Japan announced no change in its policies. However, officials did announce the creation of a new special program amounting to approximately 75 trillion yen to support corporate financing.


In light of increased U.S.-China tensions flight to quality buying is coming into the market.

The Federal Reserves balance sheet increased to $7.09 trillion for the week ending in May 20, which is up from $6.98 trillion in the previous week.

In keeping with the global trend of central banks becoming more accommodative, the Reserve Bank of India cut its key lending rate in an unscheduled move to support the economy. The RBI's monetary policy committee reduced its repurchase agreement rate by 40 basis points to 4.00% from 4.40%.

The next Federal Open Market Committee meeting is scheduled for June 9-10. Currently there is a 98.6% probability that the FOMC will leave its fed funds rate unchanged at zero to 25 basis points.

The thirty-year Treasury bond futures are in a broadly based congestion pattern, as the main fundamental influences are offsetting.

Contact Alan for more extensive information on these markets at 312.242.7911 or via email at Thank you.

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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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About the author

Alan Bush has been a commodity analyst since 1976 focusing on the fundamental and technical aspects of stock index, interest rate and foreign currency markets. He has authored several articles for Stocks Futures and Options magazine and produced the “Futures Tech Focus” program, which is a technically based market outlook.

Alan served on the faculty of Oakton College as instructor of a course entitled, “Principles of Technical Analysis.” He has been interviewed on many national television programs, appearing on the Nightly Business Report, CNBC, CNN Moneyline, Reuters Television and Web FN. In addition, he has been frequently quoted in The Wall Street Journal, USA Today, The Bond Buyer and the Chicago Tribune and has been regularly interviewed on Chicago’s WMAQ radio business reports.

Alan can be reached at (312) 242-7911, or via email at

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