{"id":226767,"date":"2025-07-03T10:45:00","date_gmt":"2025-07-03T14:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=226767"},"modified":"2025-07-03T11:24:44","modified_gmt":"2025-07-03T15:24:44","slug":"fireworks-or-fizzle-markets-test-key-resistance-into-july-4th","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/futures\/fireworks-or-fizzle-markets-test-key-resistance-into-july-4th\/","title":{"rendered":"Fireworks or Fizzle? Markets Test Key Resistance into July 4th"},"content":{"rendered":"\n

E-mini S&P (September) \/ E-mini NQ (September)<\/strong><\/h2>\n\n\n\n

S&P, yesterday\u2019s close: Settled at 6248.75, down 5.00<\/p>\n\n\n\n

NQ, yesterday\u2019s close: Settled at 22,692.75, down 200.50<\/p>\n\n\n\n

Happy 4th<\/sup> of July. Today will be a holiday-shortened-session with equity indices closing at 12:15 pm CT, but the June Nonfarm Payrolls Report is due at 7:30 am CT. Expectations are for 111k jobs created and the Unemployment Rate to tick up from 4.2% to 4.3%. Wage Growth was strong in May at +0.4% m\/m, and while that growth is expected to temper at +0.3%, that would still be a firm rise given the base comparison. However, Wage Growth y\/y is expected to be flat at +3.9%.<\/p>\n\n\n\n

Price action in E-mini S&P futures continues to trade against rare major four-star resistance, aligning with the September contract record high at 6278.75-6285. The E-mini NQ rebounded yesterday and is trading into resistance aligning with the June monthly settlement, its prior record high, and the newly achieved mark at 22,871-22,934. These are the lines in the sand; a strong weekly close today will provide the steam for the next leg higher. Our Pivot and point of balance is detailed below, and will be critical in defining today\u2019s momentum. In the case of a pullback, we do have key resistance aligning with yesterday\u2019s opening range high, and major three-star support adjusted slightly at…
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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete, and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.<\/p>\n\n\n\n

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Originally Posted on July 3, 2025 – Fireworks or Fizzle? Markets Test Key Resistance into July 4th<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Today will be a holiday-shortened-session with equity indices closing at 12:15 pm CT, but the June Nonfarm Payrolls Report is due at 7:30 am CT. <\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17,6,8,9,26,3],"tags":[],"contributors-categories":[13588],"class_list":["post-226767","post","type-post","status-publish","format-standard","category-futures","category-north-america","category-region","category-securities","category-text-articles","category-traders-insight","contributors-categories-blue-line-futures"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nFireworks or Fizzle? 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