First Call: May 24, 2019

May 24, 2019 | First Call

S&P futures up 0.5%, off best levels.  Watch the overnight VWAP on S&P futures at 2832 for support and 2845 the VWAP from the May 13th low as resistance.  Overall I believe selling into this bounce is correct.  Asian markets narrowly mixed overnight. China ended little changed. European markets seeing good gains. Treasuries weaker with some curve flattening. Dollar narrowly mixed vs yen and euro. Gold down 0.3%. WTI crude up 1.1% following nearly 6.0% selloff in prior session.