US Futures Take a Breather in Anticipation of Nonfarm Payrolls Release
Jason Sen | Oct 06, 2023 04:07AM ET
Emini S&P December futures held 11 points above strong support at 4225/15 so far this week. On a retest, longs need stops below 4195.
A break below here today is an important medium-term sell signal.
A high for the day exactly at first resistance at 4300/4310 yesterday & if you caught the first test of this level there was up to 40 points profit offer.
This is key again this morning but the strongest resistance should be at 4330/40. Shorts need stops above 4355.
Nasdaq December futures longs at support at 14630/600 worked perfectly on the bounce to resistance at 14810/850 for a 200 ticks profit but unfortunately, shorts here were stopped above 14890 on Wednesday.
Yesterday we could not beat Wednesday's high so again we should have the first resistance at 15050/15100 today. A break higher however can target 15250/300.
Support again at 14630/600. Longs need stops below 14550 and a break lower is an important sell signal initially targeting 14440/430.
Emini Dow Jones December break below 33400 was a sell signal targeting 33330/300 then 33080/030. Targets hit with a low for the week exactly at this level.
Today's resistance at 33500/600. Shorts need stops above 33750.
A break below 33000 is certainly possible and initially targets 32900/850 before a retest of the May low at 32670/620.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.