First Call May 13, 2021

by | May 13, 2021 | First Call

  • S&P futures up 0.2% and Nasdaq 100 futures up 0.5% in premarket trading. Comes after US equities came under pressure on Wednesday, falling for a third straight session. S&P saw its biggest decline since February while Dow suffered its worst day since January.
  • Equity bullish sentiment nearing the 50% majority line
  • SPY has a new Erlanger ETS sell signal
  • Markets are short term oversold with lower high bounces expected
  • Asian markets sharply lower overnight with Japan the worst performer, down 2.5%, followed by sharp declines in Hong Kong, South Korea, and Taiwan.
  • European markets also weak, but off worst levels.
  • Treasuries are unchanged to firmer at the long end of the curve.
  • Gold down 0.3%.
  • WTI crude down 2.2%
  • I'm on Real Vision's Daily Briefing live at 4 pm today. It's on Youtube if you don't have a RV subscription
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