US DATA: Chicago Fed And Revelio Oct Labor Market Data

•  RES 4: 152.31 High Feb 19 
• RES 3: 151.62 61.8% retracement of the Jan 10 - Apr 22 bear leg
• RES 2: 151.21 High Mar 28
• RES 1: 151.03 Intraday high
• PRICE: 150.82 @ 14:32 BST Oct 7
• SUP 1: 149.05 Low Oct 6 
• SUP 2: 148.10/147.67 20- and 50-day EMA values   
• SUP 3: 146.59 Trendline support drawn from the Apr 22 low 
• SUP 4: 145.49 Low Sept 17

A bullish theme remains intact in USDJPY following Monday's strong start to the week. The move higher has resulted in a breach of resistance at 149.96, the Sep 26 high and a key short-term resistance. This has exposed the key medium-term resistance at 150.92, the Aug 1 high. It has been pierced, a clear break of it would confirm a resumption of the bull leg that started Apr 22. Monday’s intraday low at 149.05 is first support.

•   RES 4: 6831.38 2.500 proj of the Aug 20 - 28 - Sep 2 price swing 
• RES 3: 6819.25 1.500 proj of the Aug 1 - 15 - 20 price swing
• RES 2: 6812.29 2.382 proj of the Aug 20 - 28 - Sep 2 price swing
• RES 1: 6802.75 Intraday high 
• PRICE: 6797.00 @ 14:15 BST Oct 7
• SUP 1: 6694.17 20-day EMA
• SUP 2: 6624.25 Low Sep 25 
• SUP 3: 6575.48 50-day EMA 
• SUP 4: 6506.50 Low Sep 5 

A bull cycle in S&P E-Minis remains intact. The contract has again traded to a fresh cycle high to confirm a resumption of the uptrend and maintain the positive price sequence of higher highs and higher lows. Sights are on 6812.29, a Fibonacci projection. Initial support to watch is at the 20-day EMA, at 6694.17. It has recently been pierced, a clear break of it would signal scope for a deeper pullback, potentially towards the 50-day EMA, at 6575.48.

Since Equity Futures, the Emini and the NQZ5 are making new record highs, Cash Opens are expected to see a small gap higher:

• Calls: SPX: 6,759.1 (+0.3%); DJIA: 46,832 (+0.3%/+137pts); NDX: 25,068.4 (+0.4%).