The weekly jobless claims (the number of people applying for unemployment insurance) continues to rise at an accelerated rate.
Initial Jobless Claims: 626,000
Continuing Claims: 4,788,000
Retails sales (same store sales) data arriving over the news wires here this morning have been for the most part horrible.
Pre market S&P 500 futures have declined significantly on the news of the rising jobless claims. As discussed in the technical analysis video last night I am watching 820 as a support level. Futures have fallen to that level in the pre market.
S&P 500 Futures - Overnight and Pre Market
Recap of support / resistance levels to watch today:
Support:
820
815
810
Resistance:
823 (overnight base)
828-830
835
840
850-855
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More on this topic
(What's this?)
Initial Jobless Claims Fall to 448,000
(Expected Returns, 4/29/10)
Jobless Claims Rise to 472,000
(Expected Returns, 7/1/10)
WHAT’S ON TAP?
(THE PRAGMATIC CAPITALIST, 7/4/10)
{ 1 comment }
Thanks for publishing your support/resistance levels. My Internet connection gets flaky sometimes and I don’t have the patience to wait the hour it takes to download the video when my through-put suffers. Like yesterday. (Sigh)
I stop in several times a day to see your latest commentary’s. Thank you for your efforts!