The Trade Academy – Non-Farm Payroll Market Impact Projections

Week of FEB 3, 2020

The Non-Farm Payroll expectations predict only a small marginal net improvement over January. Pre-February 7, 2020 are in the midst of a slight sideways consolidating period prior to a shift in the overall market trajectory.

S&P 500 E-MINI

With the S&P 500 E-MINI awaiting volatility from pre Non-Farm Payroll expectations the S&P 500 E-MINI will experience market fluctuations leading into testing median range high resistance level 3293.25. If the S&P 500 E-MINI can maintain volatility it will move to retest the S&P 500 E-MINI range high. If the S&P 500 E-MINI is experiencing a market trajectory change then the S&P 500 E-MINI will move to retest slight resistance level 3260.75. Shown in Chart A.

Russell 2000 E-MINI

The Russell 2000 E-MINI is currently moving to test a slight resistance level at 1658.5. If volatility pre Non-Farm Payroll can hold the Russell 2000 E-MINI will Proceed to test range highs.If market trajectory corrections are taken into account the Russell 2000 E-MINI will move to retest slight resistance level 1635.8. Shown in Chart B.

NASDAQ 100 E-MINI

Currently approaching range highs the NASDAQ 100 E-MINI will either find higher highs or move to retest slight resistance level 8949.75 before moving to 8730.50. Shown in Chart C.

*Charts are created with TradingView, our partner in charting.
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Written by Nenad Jordanoski, Futures Trader and Technical Analyst.
Email: nj@thetrade.academy
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