Unemployment Friday

For Friday:

The Unemployment Situation report will be released tomorrow at 7:30am Central. The is undoubtedly one of the most important reports of the month. Unemployment is on the rise and if it comes in lower than expected then will get a strong bear move.


From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance Numbers for 4 April:

For Thursday

For Thursday:

Higher Volume on the way up in the morning on Wednesday, followed by a sel of with volume favoring lower prices.
I really can't see how the unemployment reports over the next two days are going to fuel buying in the eMini S&P. It is more likely that these numbers will remind market participants of the state of the economy. It appears the Fed Chairman had the same effect on Wednesday.

Favoring the short side - but stick with the volume. ower prices on high volume - then sell the low volume rallies. If the rally comes with the volume, get out of the way.

best
Josh

From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance Numbers for 3 April:

Upcoming Reports:
Thursday
Jobless Claims 8:30 ET
EIA Natural Gas Report 10:30 ET

Friday
Employment Situation 8:30 ET

I Hate April Fools

For Wednesday:

Well the market played a huge April Fools on me; a rally of 33 points in the emini S&P in the regular trading hours.

Now I have been bearish for a while now, and given the state of the economy I will continue to be guarded on rallies - but clearly the buyers stepped up to the plate today.

Good numbers in ISM Manufacturing and Construction Spending along with the start of a new quarter brought buyers into the equities. - But - Unemployment Friday conquers all. Some may think the worst is behind us; I'll continue to have doubts. (Bear Sterns anyone?)

Bottom line follow the volume - the market kept going higher on volume today: Wednesday's pre-market trading will be a clue. If the market starts trading lower on high volume in the morning - we'll head down, If higher prices on higher volume then this bull run will continue.

From the TradeMaven Software, Volume Weighted Pivot, Support and Resistance Numbers for 2 April:

Upcoming Reports:
Wednesday
MBA Purchase Applications 7:00 ET
Challenger Job-Cut Report 7:30 ET
ADP Employment Report 8:15 ET

Thursday
Jobless Claims 8:30 ET
EIA Natural Gas Report 10:30 ET

Friday
Employment Situation 8:30 ET