Bill Baruch

Discover Blue Line Capital: https://www.bluelinecapitalwealth.com/contact-us/ Blue Line Capital, LLC and individuals in this video may hold a position in the securities discussed.

E-mini S&P and E-mini NQ futures snapped back from a dull morning after pro-cyclical comments from President Trump during a video call addressing the World Economic Forum in Davos. The tailwind carried into a the close when SPY and SPX set a fresh record high.

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Cattle futures saw a sharp move higher last week. Will Friday’s Cattle on Feed report keep the Bull run going?

Last week’s sell-off was driven by fears of a global economic slowdown as trade tensions ratcheted higher with the arrival of President Trump. The weekly EIA number showed another large crude draw.

E-mini S&P and E-mini NQ futures battled off the worst levels but still finished -1.41% and -2.98%, led by SMH -9.83%, with names like NVDA and AVGO plummeting -16.97% and -17.4%. At the core, we find this a buying opportunity. At Blue Line Capital, we own names like NVDA and AVGO near the top of our list.

WTI Crude Oil futures settled above our major three-star support level of 72.97-73.24***, setting up a solid speculative long position. Futures are back trading above this level and into no-man’s land this morning. We like positioning only at high-conviction levels within this environment as headline volatility is to be expected.

Bill Baruch Blue Line Futures WTI Crude Oil Futures (March) Yesterday's Settlement: 72.62, down -1.15 [-1.56%]