Thursday, March 8, 2012

Pre Jobless Claims S&P500 Futures Look

5 min ES
So far so good, the price of the S&P has minded the fan with 1355 being launch pad for a run that took the ES over 1365. What is interesting is Tuesday's sell off has now been mitigated as ES traded on Monday's overnight session highs of 1365.75.

I am looking at 1360 as support with 1366 being resistance. The jobless claims number is coming up here in a few minutes, if positive perhaps 1370 may be in the cards, negative 1355. be ready for either scenario.

The Euro is stronger against the greenback giving the commodity and equity markets a boost. Silver futures are up over 1 percent, crude up half a percent to 106.70.

1 hour ES