Below are my support and resistance levels for the S&P. Intra-day are in the green and weekly in the purple. If the jobs numbers are either horrible or surprising good tomorrow we could see these weekly numbers reached very fast, so be prepared.
Thursday, December 4, 2008
Jobless Claims Decline with Futures
Morning Everyone. Pre-market futures are down slightly this morning on bad news from a variety of sources. Merck said its earnings are going to miss estimates while its profit forecast was adjusted downward. AT&T is cutting jobs while the Big Three automakers have finally considered a form of pre-arranged bankruptcy. Also, the ECB cut its benchmark rate by a full point over the night. And finally, initial jobless claims declined a bit but continuing claims are expected to rise to 4.03 million.
Below are my support and resistance levels for the S&P. Intra-day are in the green and weekly in the purple. If the jobs numbers are either horrible or surprising good tomorrow we could see these weekly numbers reached very fast, so be prepared.
Below are my support and resistance levels for the S&P. Intra-day are in the green and weekly in the purple. If the jobs numbers are either horrible or surprising good tomorrow we could see these weekly numbers reached very fast, so be prepared.
