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S&P 500 ($ES_F) Poised Into Good Friday NFP Report

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S&P 500 ($ES_F) Poised Into Good Friday NFP Report

Another dip and a bounce Thursday to reinforce whipsaw price action so far in Q2, to highlight a very erratic, indecisive theme within a broader range environment that has dominated since late February, even throughout 2015.

This leaves an indecisive outlook for Friday, into the key US Employment release, but with a bias skewed to the topside.

For Today:

  • We see an upside bias for 2076.5, maybe 2081.75, which we would look to try to cap. Break targets key 2089.25.
  • But below 2044.0 opens risk down to 2039.75, but 2030.25 remains key, which we would look to try to hold. Break aims for 2021.75.

 

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2 Hour S&P 500 E-mini Future Chart (June contract)

b2ap3_thumbnail_sp5002_20150403-053506_1.png

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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