First Call

First Call June 14, 2021

Jun 14, 2021

Thomas Thornton

  • S&P futures trading flat with Nasdaq futures up 0.2% in Monday morning trading after the S&P, Nasdaq, and Russell all finished higher last week, seeing growth outperforming value by more than 200 bp. REITs, healthcare, consumer discretionary, and tech were among the best performers while materials, industrials, and financials sold off.
  • Erlanger ETS momentum signals: New buys: XLV; New sells: XLP, XLI, XLF
  • Asian equities mixed in quiet overnight trading. Japan outperformed while Australia, Taiwan, and Greater China markets were all closed.
  • European markets are higher.
  • Treasuries little changed after a big rally last week.
  • Dollar not doing much either.
  • Gold down 1.3%.
  • Agriculture commodities down hard. Corn, wheat, and soybean charts
  • Bitcoin futures up over 5.0%. The chart on this note shows a new potential downside wave 5 price objective 54% lower from the current price
  • WTI crude up 0.5%.
  • Sorry for the late note as I lost my office key - lovely way to start the week
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