FTSE 100, NASDAQ 100 and S&P 500 US non-farm payrolls outlook
The FTSE 100, NASDAQ 100 and S&P 500 have all been trading in tight ranges ahead of the widely awaited US non-farm payrolls report which is likely to inject volatility into the indices.
FTSE 100 range bound ahead of US employment data
The FTSE 100 continues to range trade above its 55-day simple moving average (SMA) at 8,261, which acts as minor support, but at the same time stays below last week’s high at 8,336. Above this level lies the September high at 8,372.
Support below Tuesday’s low at 8,224 can be seen at the 20 September 8,196 low. A fall through the 8,196 level would put the early September low at 8,153 back on the cards.
NASDAQ 100 traders await US non-farm payrolls
The NASDAQ 100's retracement from its two-month high at 20,316 has so far taken it to this week’s low at 19,611 on Tuesday. Since then the index sideways traded in a very tight range above this minor support level, awaiting US employment data.
A fall through 19,611 would engage the 55-day SMA at 19,296 and the August-to-October tentative uptrend line at 19,190.
Above Thursday’s high at 19,912 and the 19,938 August peak lies minor resistance around the psychological 20,000 mark. Further up the September high can be found at 20,316.
S&P 500 awaits US employment data
The S&P 500's slip from its September record high at 5,773 has practically taken it back to its 5,669 July peak which acts as support ahead of Friday’s US non-farm payrolls (NFP) report. Further potential support can be found around the 5,655 early September high and along the August-to-October uptrend line at 5,603.
Minor resistance can be seen at the 26 September low at 5,721.
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