The main U.S. stock market indexes were mixed yesterday, as investors hesitated ahead of Friday’s unemployment data announcement. The S&P 500 index lost 0.1%, extending its fluctuations below the level of 1,700. The support remains at around 1,680, marked by the 50% retracement of the August-September rally at 1,678.67, amongst others. On the other hand, the resistance is at 1,700-1,710, marked by the early August consolidation, as we can see on the daily chart:

Expectations before the opening of today’s session are slightly negative, with index futures currently down between 0.2% and 0.3% vs. their Thursday’s closing prices. The Major European stock market indexes have been mixed. Investors will now wait for some economic data announcements: Initial Claims at 8:30 a.m., ISM Services index and Factory Orders number at 10:00 a.m. Of course, investors are focusing on Friday’s jobs data release, so the volatility may remain relatively low today. The S&P 500 futures contract (CFD) is in a short-term consolidation, following a break above the recent downward trend line. The support remains at around 1,665, marked by the previous consolidation, and the nearest resistance is at 1,685-1,690, as the 15-minute chart shows:

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Thank you,
Paul Rejczak