THURSDAY'S SESSION (3/06/08)
The ES market simply made a continuous series of lower highs and lows all day. With the S&P 500 Index closing below 1320, there is no support between the close of 1304.35 and January's low of 1270.05. Resistance is the 1320 area.
FRIDAY'S OUTLOOK (3/07/08)
EMPLOYMENT SITUATION REPORT at 0830 ET
Nonfarm Payroll Consensus: 25,000
Average Hourly Earnings Consensus: 0.2%
Unemployment Rate Consensus: 5.0%
Average Workweek Consensus: 33.7 hrs
CONSUMER CREDIT REPORT at 1500 ET
Consensus: $7.3B
Several Federal Reserve speakers in Europe with most occuring pre-market open.
Charles
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