Morning Express: Today’s Economic Focus
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Core PCE Price Index m/m – Forecast 0.2% Previous 0.1%
(Change in the price of goods and services purchased by consumers, excluding food and energy)
Personal Income m/m – Forecast 0.4% Previous 0.5%
(Change in the total value of income received from all sources by consumers)
Personal Spending m/m- Forecast 0.3% Previous 0.2%
(Change in the inflation-adjusted value of all expenditures by consumers)
Revised UoM Consumer Sentiment- Forecast 66.3 Previous 66
(Level of a composite index based on surveyed consumers)
Revised UoM Inflation Expectations- Previous 2.9%
(Percentage that consumers expect the price of goods and services to change during the next 12 months)
![](https://barchart-news-media-prod.aws.barchart.com/IF/675174b076641736cf9d27d08d1d5005/image-102.png%3Fresize%3D640%252c360%26ssl%3D1)
E-mini NQ futures are testing a critical pocket of support, highlighted above.
E-mini S&P (September) / E-mini NQ (September)
- S&P, yesterday’s close: Settled at 5441.25, down 30.75
- NQ, yesterday’s close: Settled at 18,992.25, down 211.00
- Bias: Neutral/Bullish
- Resistance: 5491.25-5495.25, 5502.25-5504.50, 5508.50-5509.25, 5522.25, 5528.75-5533.25, 5551.50-5553.75, 5599.25****
- Pivot: 5472.50
- Support: 5448.25-5453.25, 5439-5441, 5432.50*, 5391.25-5398.25, 5366.50-5370.50
NQ (September)
- Resistance: 19,224-19,245, 19,307, 19,341-19,361, 19,390, 19,496-19,589, 19,713-19,773, 19,809-19,828, 19,925*
- Pivot: 19,190
- Support: 18,945-19,159, 18,883, 18,727, 18,645-18,675, 18,482-18,500
Crude Oil (September)
- Yesterday’s close: Settled at 78.28, up 0.69
- Bias: Neutral/Bullish
- Resistance: 78.64-78.92, 79.22**, 79.81, 80.70, 81.30
- Pivot: 77.90
- Support: 77.37-77.59, 76.04-76.40, 75.71-75.87, 75.08-75.32, 74.55-74.91*
Gold (August) / Silver (September)
- Gold, yesterday’s close: Settled at 2353.5, down 62.2
- Silver, yesterday’s close: Settled at 27.975, down 1.341
- Bias: Neutral
- Resistance: 2385.2-2390.2, 2396.5-2399.6*, 2414.4-2418.2
- Pivot: 2367.9-2374.8
- Support: 2348-2356*, 2333.4
Silver (Sept)
- Resistance: 28.28-28.34, 28.90-29.06**
- Pivot: 27.95
- Support: 27.75, 27.54, 27.33-27.40, 26.61-26.98**
Micro Bitcoin (July)
- Yesterday’s close: Settled at 65,700, up 135
- Bias: Bullish/Neutral
- Resistance: 67,230-67,460, 68,340-68,643, 70,335-70,715*, 71,829
- Pivot: 66,180
- Support: 65,290-65,700, 63,270-63,695, 62,615-62,987, 60,845
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One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
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