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Monthly Unemployment Figures Released Tomorrow 5.06.2016
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday May 6, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
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Greetings!
Non Farm Payroll also known as Monthly unemployment figures will be released tomorrow before the cash open ( 5:30 Am pacific time or 7:30 Am central time).
This is a market moving report and my guess is that stocks, bonds, metals and energies will have some wild swings as traders try to position themselves based on the data released.
mini SP 500 weekly chart for your review:
GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
| Contract June 2016 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2077.33 | 4382.33 | 17811 | 1129.97 | 94.70 |
| Resistance 2 | 2068.67 | 4362.42 | 17747 | 1124.33 | 94.28 |
| Resistance 1 | 2056.83 | 4332.33 | 17665 | 1114.97 | 94.01 |
| Pivot | 2048.17 | 4312.42 | 17601 | 1109.33 | 93.59 |
| Support 1 | 2036.33 | 4282.33 | 17519 | 1099.97 | 93.32 |
| Support 2 | 2027.67 | 4262.42 | 17455 | 1094.33 | 92.90 |
| Support 3 | 2015.83 | 4232.33 | 17373 | 1084.97 | 92.63 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1305.8 | 18.02 | 47.73 | 167 19/32 | 1.1590 |
| Resistance 2 | 1297.1 | 17.85 | 46.90 | 166 20/32 | 1.1548 |
| Resistance 1 | 1288.0 | 17.62 | 45.62 | 166 3/32 | 1.1481 |
| Pivot | 1279.3 | 17.45 | 44.79 | 165 4/32 | 1.1440 |
| Support 1 | 1270.2 | 17.22 | 43.51 | 164 19/32 | 1.1373 |
| Support 2 | 1261.5 | 17.05 | 42.68 | 163 20/32 | 1.1331 |
| Support 3 | 1252.4 | 16.82 | 41.40 | 163 3/32 | 1.1264 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | June Nat Gas |
| Resistance 3 | 384.6 | 479.4 | 1072.33 | 359.70 | 2.27 |
| Resistance 2 | 381.4 | 475.6 | 1059.92 | 354.80 | 2.22 |
| Resistance 1 | 377.6 | 469.4 | 1036.08 | 345.80 | 2.15 |
| Pivot | 374.4 | 465.6 | 1023.67 | 340.90 | 2.11 |
| Support 1 | 370.6 | 459.4 | 999.8 | 331.9 | 2.0 |
| Support 2 | 367.4 | 455.6 | 987.42 | 327.00 | 2.00 |
| Support 3 | 363.6 | 449.4 | 963.58 | 318.00 | 1.93 |
Economic Reports
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 3:48pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| FriMay 6 | 4:10am | EUR | Retail PMI | 49.2 | |||||
| 8:30am | USD | Average Hourly Earnings m/m | 0.3% | 0.3% | |||||
| USD | Non-Farm Employment Change | 203K | 215K | ||||||
| USD | Unemployment Rate | 5.0% | 5.0% | ||||||
| 3:00pm | USD | Consumer Credit m/m | 16.1B | 17.2B |
