Futures fall with rising Treasury yields; jobless claims loom.

U.S. stock index futures declined on Thursday amid rising Treasury yields, as investors awaited jobless claims data that may clarify the Federal Reserve's interest rate strategy for the coming year.

During a week short on significant catalysts, market momentum has somewhat faltered. Investors are seeking new insights into the monetary policy direction, especially after last week's weaker-than-anticipated payroll figures sparked speculation of one or two interest rate reductions this year.

Technically:
The S&P 500 is currently navigating between trends with boundaries at 5192 and 5150. In this context, we can anticipate two potential scenarios:

In the first scenario, if the index stabilizes below the trend line, approximately at 5192, and subsequently drops to 5177, it is likely to continue its bearish descent, targeting levels at 5150 and then possibly extending to 5120.

Conversely, the second scenario proposes a bullish outlook. Should the index consolidate above the trend line around 5192, it would be expected to sustain a bullish trajectory, aiming for an upward target of 5225.


Pivot Line: 5186
Resistance Levels: 5224, 5249, 5280
Support Levels: 5150, 5120, 5103

Today’s expected trading range is between the support 5120 and the resistance 5224.