Market Analysis

Crypto markets are mixed this morning with Bitcoin remaining in the range of multi-week lows. Volumes have again pulled back ahead of the North American long weekend.
Cooler weather continues to be a concern for the late-planted crop, if it stays in the forecast through the weekend, we would expect to see more premium come into the market.
What a week, the S&P is 4.5% off the Sunday night low and the FOMO melt-up is engaged.
Futures opened lower and barely noticed a bevy of economic data that was realized shortly after the open. Action again focused on upside call structures.
Yesterday, Bitcoin Fell $600 In 30-Minutes, Coins In The Top 10 Are Generally Down In The Range Of -10% Over The Last 24-Hours - We See The Move Lower As The Product Of Pre-Existing Downside Risk And Thin Markets
Production seems to be lower in cotton, so prices should move higher. Another factor that could come into play is the tropical storm Dorian headed for the coast. Cotton in Florida could be greatly affected.
U.S. and Chinese trade talks look more optimistic - for the moment. Trader focus on cooler weather in Midwest and early frost.
Hurricane Dorian may steal the thunder. Total petroleum demand on the U.S. system hit 30.541 million barrels a day, a record high, as gasoline demand hummed, hitting 9.9 million barrels a day, close to a record high.
U.S benchmarks are surging higher. The tables turned through yesterday morning after major three-star support held a retest at 7:00 am CT. Freshly upbeat rhetoric surrounding U.S and China trade has added a tailwind to yesterday’s trading session.
Futures edged higher for the majority of the day on a quiet session with no economic numbers and no major Twitter bombs about China.