We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.18% Silver: 0.00% Gold: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lgnQTs4F8U
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.15% 🇯🇵JPY: 0.06% 🇦🇺AUD: 0.06% 🇳🇿NZD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Tu1NZZUBBo
  • The $USD suddenly seems scarce amid the #coronavirus outbreak. That threatens short-term financing underpinning global supply chains, despite the Fed’s epic efforts. Get your US Dollar market update from @DavidCottleFX here:https://t.co/D2p2Vl2ORK https://t.co/56Iq8CmJ7Z
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.33% France 40: 1.21% Wall Street: 0.29% US 500: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zusHPHZgFm
  • Ripple IG Client Sentiment: Our data shows traders are now at their least net-long Ripple since Mar 29 when Ripple traded near 0.16. A contrarian view of crowd sentiment points to Ripple strength. https://www.dailyfx.com/sentiment https://t.co/TnhXuofL8C
  • #Bitcoin prices may see a pickup in volatility ahead of the 2020 halving as the #coronavirus pandemic threatens to disrupt cross-continental $BTC mining operations. Get your market update from @ZabelinDimitri here: https://t.co/BoH24MVf4P https://t.co/c7YqD7VXqc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.72%, while traders in Wall Street are at opposite extremes with 78.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OukR4dIlJc
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.18% Silver: 0.00% Gold: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xivz7ptPMn
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/EBCYaTLWGi
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇳🇿NZD: 0.18% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.12% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aM45N7u2eL
S&P 500: Base Building, Non-Farm Payrolls Tomorrow

S&P 500: Base Building, Non-Farm Payrolls Tomorrow

2017-01-05 12:52:00
Paul Robinson, Strategist
Share:

What’s inside:

  • S&P 500 climbs to start year, into overhead levels
  • A little backing-and-filling might be what the market needs to trade to new highs
  • U.S. jobs report due out tomorrow

Join Paul tomorrow at 10 GMT to find out what his game-plan is heading into NFPs. For live coverage of the jobs report, beginning at 1315, sign up here.

So far, to begin the year the S&P 500 has risen with decent force since ending the final three days of 2016 on a down note. The Feb 11 trend-line which was broken last month was marginally recaptured during yesterday’s trade, but the more the market trades around it without regard for it as support or resistance the less important it becomes in our view.

The current advance has the market pushed up against top-side resistance running off the 12/13 peak. For the market to gain momentum it will need to cross beyond this line in addition to the 12/27 peak at 2274 and 12/13 record high at 2277.5. A little backing-and-filling here might turn out to be what the market needs; building a bigger base from which to launch higher. The trend-line off the November low will be eyed as a potential spot of support on weakness. An intersection of the top-side line and rising trend-line could present an inflection point of interest should the market draw to that point; we’ll delve more into that should it become relevant.

S&P 500: Daily

S&P 500: Base Building, Non-Farm Payrolls Tomorrow

Created with Tradingview

Tomorrow, we have the US jobs report due out at 1330 GMT time; the consensus estimate is for NFPs to show the U.S. economy added 170k new jobs in December, unemployment rate ticking higher to 4.7%, and average hourly earnings rising to 2.8% YoY from 2.5%. As per usual, no predictions regarding the outcome, but expect knee-jerk reactions in both directions in the minutes following the release.

For trader education, see our Trading Guides.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.