A upbeat February Non-farm payroll sends S&P futures into new 2013 high
S&P 500 E-mini Future
|5 min ES|
The ES june contract traded into 1547.75 following the upbeat February Non-farm Payrolls, the ES’s highest level of 2013. Non-Farm 236K vs. 162K expected, 157K prior.
Following the NFP print, the 30 year bond traded into 140’14 while the DX into 2013 highs of 82.76; Gold futures also fell to 1560.40. The move in bonds and dollar is the historical reaction to a positive jobs figure.
|1 hour ZB|
Immediate support in the ES is 1542.50 followed by 1540 into 1537.75; under 37.75 = 35. Over 1547.75 its 1550 easy.
Nasdaq 100 Mini Future
|15 min NQ|
NQ futures reacted in a similar fashion as the ES to NFP as it surged to 2817 a new 2013 high for the index.
Support is the previous resistance at 2708.71 followed by 2800 into 2789, on the upside over the current high we could easily see 2827 as resistance off the cash open if all the players show up to play.. ie AAPL GOOG MSFT AMZN etc.
Crude Oil Future
|15 min CL|
Crude has done nothing but the usual dance this morning, the stop harvesting dance. First the upside buy stops were taken over 91.74 then the sell stops were taken out under 90.84. Now crude sits at 91.25 pretty much in the middle of that stop hunting range.
My take is CL needs to get over 91.80 to reverse back to 92+ if we fail 91 again its back to 91.80-90.25 as crude has significant resistance it has to navigate before the trend becomes steady
|15 min GOOG|
Shares of GOOG are higher to 835.99 up from 832.59 close Thursday, support remains @ 830 with the line in sand being 829.80. A break out over 840 off the open could set the foundation for a move into 850.
Apple shares are lower to from a 430.582 close to 428.54 thus under 425 there is into 418.50-420. The pre market high is 432.36 thus over this level Apple could do a similar dance as to yesterday; ie move higher into 840.
FCX shares are higher to 33.54 in pre-market trading up from a 33.08 close. Looking for 34 today if 33.34 can hold as support; under 33 sell stops could bring it into 32.50 support from earlier in the week.
Shares of JCP are slightly bid this after the company announced layoffs of 2,200 this morning with 15.40 being our upside target if the 15.00 level can hold as support off the open. 14.80 is the line ins and before 14.50.
Shares of MCD are higher following earnings, we like them long over 99 with stop at 98.50 with a target of 99+.
Subscribe to the TFP Insider | Morning Letter.