The US employment situation report is due out at 7:30 Central time. Expectations are for January NFP losses of 650K, the unemployment rate is expected to rise to 7.9%.It is possible that the markets priced in a bad number yesterday, but sentiment is still bearish.The markets are marking time until payrolls.The Dollar is selling off this morning-the ECB said they’re ready to cut rates further. This is a good sign for the Eurozone economy, as the hawkish ECB stance stoked slowdown (meltdown?) fears.Where will the markets be at 7:31?
March S&P:Yesterday’s low was 676.25
March NASDAQ:1072 was yesterday’s low; 1060 is next support.A move through there could spell trouble.
June Treasury Bonds:Momentum sell short day, 12809 is resistance.
March Dollar Index:Breakout day selloff, 8822 and 8776 are support points.
March EuroFX:Momentum buy day, 12678 and 12722 are resistance points.
March British Pound:14209 is resistance.
April Gold:Momentum sell short day; 941.50 is resistance.
May Silver:1352 is a 50% retracement of the past month’s selloff, resistance.
May Copper:Momentum buy day, 16650 is the key price level.
May Coffee:Breakout day, 10760 and 10685 are support.
May Cotton:Will the double bottom around 6110 hold?
April Crude Oil: Momentum is bullish; 4500 is resistance.
May Soybeans:momentum buy day , 861 and 865 are resistance.
May Wheat:524-4 is resistance.
May Corn:Momentum buy day, 362-4 is resistance.
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.gif "Swing Traders Insight Futures Watch List for March 6")
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