Ahead of Employment Situation Data

In a couple hours we are going to get the job report. You must subtract 450-500K census workers from the raw data. My most optimistic forecast for Nonfarm Payrolls would be 640K to 700K. If we get anything below 600K market should tank sharply. Everybody is looking for an excellent employment data, therefore the surprise element is out the window. It's impossible to forecast what is going to play out on Friday. As I mentioned in my previous post. You must pay attention to 1100-1105, 1120 and 1150 resistances in coming days. It should give you a clear perspective on market direction.