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US Futures Take a Breather in Anticipation of Nonfarm Payrolls Release

Published 10/06/2023, 04:07 AM
Updated 07/09/2023, 06:31 AM

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.Emini Futures-4-Hr Chart

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.Nasdaq Futures-4-Hr Chart

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.Dow Jones-4-Hr Chart

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