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Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Blue Line Futures

March 31, 2020

Morning Express: March 31, 2020

U.S benchmarks surged higher yesterday and into today’s quarter-end. A largely accepted catalyst for the strength that began last week was quarterly rebalancing.

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Blue Line Futures

March 26, 2020

Grain Express: March 26, 2020

May corn continue to grind higher yesterday, despite news that two more ethanol plants will be closing, due to negative margins. Export sales this morning came in at a whopping 1,814,300 for old crop corn, 81% above the 4-week average.

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Blue Line Futures

March 24, 2020

Grain Express: March 24, 2020

Corn futures traded in a relatively tight range yesterday as the market tries to catch its breath. Does that mean the bottom is in? No. The technical failures and tails left on the chart from Thursday and Friday are still concerning.

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Blue Line Futures

March 23, 2020

Morning Express: March 23, 2020

U.S benchmarks finished Friday on a very ugly note, settling below the December 2018 low, and kicked off this week by gapping lower. The S&P traded to the lowest level since the week after President Trump’s 2016 election.

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Blue Line Futures

March 19, 2020

Morning Express: March 19, 2020

Last week, we began saying ‘this is the panic’. Through Friday, the S&P responded to the first test of the December 2018 low by gaining as much as much as 13%. Yesterday, the S&P took out that low, but did not close below it. It has become evident since Monday that the panic is still playing out and we voiced here yesterday that we expected the market to break below 2300.

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Blue Line Futures

March 18, 2020

Grain Express: March 18, 2020

Outside markets managed to stabilize yesterday but have reversed and are trading limit down in the early morning trade. Crude oil is currently below $25 a barrel, down nearly $2.50 right now.

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Blue Line Futures

March 17, 2020

Morning Express: March 17, 2020

U.S benchmarks tested limit-up overnight before paring gains. They are still holding positive along with those from Asia. Much of Europe is lower after German Sentiment data eroded to the worst since December 2011.

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Blue Line Futures

March 16, 2020

Morning Express: March 16, 2020 -Part 2

The Federal Reserve launched its bazooka just before the open last night. Ahead of their two-day meeting this week, the committee cut interest rates to zero and announced the start of a $700 billion bond buying program or QE4 (to which we detailed in last night’s Morning Express).

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Blue Line Futures

March 15, 2020

Morning Express: March 16, 2020

Fundamentals: The settlement detailed above can do some justice in describing last week’s chaos. Think about that for a minute; the S&P gained 227 points or 9.2% on Friday, but still lost 268 points or 9% on the week. On Thursday, we led off with; “This is the panic”. By midweek, Covid-19 was not just a tale from overseas or a joke among friends on social media; events were being cancelled, lives were becoming altered and at that point the economy was expected to grind to a screeching halt. Markets began preparing for the worst; widespread shutdown of an unknown length and an outbreak topping 100,000 in the U.S over the next month. Saudi Arabia added uncertainty last weekend by beginning a Crude Oil price war. The ensuing plummet of energy prices one week ago was its own Black Swan event. However, what was uncertainty last weekend has helped to quickly value the severity of this situation from a deflation standpoint and simply from an awareness level. This is a virus throwing punches and one that can only be met with punches; Saudi Arabia’s prerogative was extreme but necessary in their eyes to save their interests and stimulate demand. As of Sunday, 3400 cases have been reported in the U.S, school districts have been shutdown and travel is being limited [from abroad, but state to state could be next]. Here in Illinois, the Governor announced all bars and restaurants must close to dine-in customers through March 30th. In other words, all economic activity is grinding to that aforementioned screeching halt.

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Blue Line Futures

March 11, 2020

Morning Express: March 11, 2020

Yesterday’s late surge was constructive, but quickly faded. Although the S&P settled at 2865.75 and above major three-star resistance at 2853.25-2864, this was not convincingly. The NQ settled at 8331.50, above 8310.50, but merely failing at last week’s late low.

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Blue Line Futures

March 10, 2020

Grain Express: March 10, 2020

Corn futures managed to hold relatively well yesterday; all things considered. Grains are finding some spillover support from the outside markets finding their footing.

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Blue Line Futures

March 9, 2020

Morning Express: March 9, 2020

The S&P is locked limit lower this morning after a historical move by Saudi Arabia. Russia refused to come to the table at last week’s OPEC+ meeting and Saudi Arabia retaliated by creating an all-out price war.

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Blue Line Futures

March 6, 2020

Morning Express: March 6, 2020

Managers, investors and traders alike are not running for cover in fear of Nonfarm Payroll (or are they?). This is the most vicious reach for safety arguably ever with uncertainty looming for not only Q1 earnings 30 days out but simply over the impending weekend as Covid-19 spreads in the U.S and the death toll surges in Italy.

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Blue Line Futures

March 5, 2020

Morning Express: March 5, 2020

U.S benchmarks are again on their back foot. After surging right up to the closing bell, the rally then quickly dissipated overnight. One major catalyst for yesterday’s strength was the economic data. ISM Non-Manufacturing was surprisingly strong; at 57.3 it was the best in a year.

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Blue Line Futures

March 4, 2020

Morning Express: March 4, 2020

The Federal Reserve announced an emergency 50-basis point rate cut yesterday morning and after a short-lived spike, equity markets sold off sharply. We believe U.S benchmarks would have finished at session highs if it were not for the Fed’s action, one that exuded fear. The odds of a 50-basis point cut stood at 100% and risk-sentiment was in recovery-mode from last week’s bloodbath as long as a cut was coming.

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Blue Line Futures

March 3, 2020

Morning Express: March 3, 2020

The recovery is underway, or is it? U.S benchmarks muscled another late surge yesterday. The tape has broadly held ground overnight and even poked its head higher. Furthermore, the S&P is out above a key technical level at 3050-3060 which in our mind paves a path of least resistance higher.

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Blue Line Futures

February 27, 2020

Morning Express: Feb. 27, 2020

The cleansing continues; the S&P hit an exact 10% correction late last night. Although the velocity of this move may seem concerning in the context of an ordinary market; the move itself is anything but concerning to this point and the market is certainly not ordinary.

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Blue Line Futures

February 24, 2020

Morning Express: Feb. 24, 2020

Risk-assets across the board are sharply lower this morning. U.S benchmarks are all down 2.5% or more as some panic begins to set in. Ultimately, we find this a very healthy correction and one we have been able to capitalize on through the Russell 2000. Fears are mounting as to the impact of the Coronavirus, now known as Covid-19.

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Blue Line Futures

February 20, 2020

Grain Express: Feb. 20, 2020

Corn futures gave back some ground yesterday as markets remain mostly rangebound amid a slow news cycle. March option expiration may keep March futures pinned near the 380 handle, which is where a lot of the open interest is.

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Blue Line Futures

February 18, 2020

Morning Express: Feb. 18, 2020

The S&P and NQ each marched to new record highs during the President’s Day holiday hours. This marked the tenth session in a row for the NQ. Just after the noon CT close, Apple warned it expects to miss sales guidance for the March quarter.

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Blue Line Futures

February 14, 2020

Morning Express: Feb. 14, 2020

U.S benchmarks set a fresh wave of record highs overnight. This marks the S&P’s fourth straight session and more impressively the NQ’s ninth. The combination of central bank liquidity, ultra-low/negative rates, lack of negative news and a warrior of a U.S consumer has fueled this market in recent days and weeks.

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Blue Line Futures

February 13, 2020

Morning Express: Feb. 13, 2020

U.S benchmarks finished at new records yesterday on what was a steady grind higher the entire session. Apple led the way gaining 2.38% but the rally was broad with Facebook +1.72% and names like Comcast +2.75%. Healthcare plan providers like UnitedHealth and Anthem surged by more than four and five percent, however, drug manufacturers, devices and biotech were all lower.

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Blue Line Futures

February 11, 2020

Grain Express: Feb. 11, 2020

Corn futures retreated yesterday, remaining within the technical range ahead of this morning’s USDA report. Though this isn’t typically a market moving report, the possibility for volatility shouldn’t be ignored.

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Blue Line Futures

February 7, 2020

Morning Express: Feb. 7, 2020

It’s Jobs Friday and Nonfarm Payroll is due at 7:30 am CT. U.S benchmarks are incurring a healthy downtick ahead of the report. Some selling pressures are due to the mounting Coronavirus numbers, but others come as Germany’s economic data echoes a recession. The Coronavirus death toll has surpassed 600 and the number of confirmed cases has topped 31,000.

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Blue Line Futures

February 5, 2020

Grain Express: Feb. 5, 2020

March corn futures finished yesterday’s session on higher ground, but there wasn’t enough new news to propel the market out above technical resistance. Outside markets are firming as concerns surrounding coronavirus ease.

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