First Call

First Call May 7, 2021

May 7, 2021

Thomas Thornton

  • S&P and Nasdaq futures up 0.2% in Friday morning trading. US equities currently on track for a mixed performance this week with value and cyclicals among the standouts while growth and momentum have come under pressure.
  • Get ready for the largest Non-Farm Payroll increase ever
  • S&P futures daily is on day 12 of 13 with DeMark Sequential with weekly Sequential 13 and sell Setup 9 in play in play too
  • This was one of the reasons I believed nominal new highs was possible
  • Asian markets mixed overnight with China a laggard.
  • European markets higher with Germany a notable outperformed.
  • Treasuries slightly weaker across the curve.
  • Dollar lagging euro while slightly better vs yen.
  • Gold up 0.3%.
  • WTI crude down 0.4% but on track for a second straight week of good gains.
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