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Archive for May 3rd, 2017

May 3, 2017 FOMC dull, but Tech should Sell Off hard along with the Ag Names

May 3rd, 2017

Futures are down about .10% in the first hour of Europe Session. German’s Unemployment data came in showing a continuing move down which is bullish for the Euro . Oil is up after the sell off yesterday with a surprise draw from API last night. EIA is expecting a drawn down of 2.160 million barrels, distillates build by 600,000 barrels and gasoline supplies build by 700,000 barrels. . FOMC won’t really matter, but that miss on AAPL with it at an all time should cause a lot of selling today. Shanghai Futures gave the rally from yesterday back with Hong Kong being on Holiday. ADM missed yesterday and sold off 8% yesterday after saying it’s too hard to make a Profit in Global Grain Glut…darn Grain Bubble, lol…I don’t see any reason why Bulls would step in and buy any Ag Names, POT was also down 1% yesterday. Japan is also on Holiday tonight.

May 2017