Friday, March 9, 2012

Pre February Non-farm Payroll S&P500 Futures Look

*updated POST NFP +227k was the print - 1365 traded, high 1367 - 1363.25 currently. 

5 min ES
5 min ES
So far not much action overnight despite a slight drop in the futures post announcement of the completion of a massive debt restructuring in Greece.

 ES_F futures traded as high as 1362.50 and as low as 1357.50. IF non farm comes in strong we could see a test of highs, and perhaps 1365 followed by 1370.

IF the news is sold or data comes in under the expected 225k gain in private pay rolls the ES could drop to Thursday's pre market resistance turned support at 1350, below next line 1345. stay on your toes.

US dollar futurs are up in excess of 0.4 percent ahead of the jobs number; fairly standard procedure pre jobs data... Despite US dollar strength and Euro weakness, crude oil futures are up .25 percent to rest slightly under the 107 level; a trade over 107.20 could bring in buyers up to the .50 level if non farm comes in positive.

5 min DX futures