Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Expectations For Fri May 4, 2012

|Includes:SPDR S&P 500 Trust ETF (SPY)

NFP already released. Almost 9 am ET now.

ES at 83 at the moment, a test of previous day low is in play at 85. With 2 gaps to deal with (1 above and 1 below) it can be quite difficult.

Fail to hold 85 as support will force ES back down to gap top below at 80 and AH low 78. That is last line of defense for bull because gap fill below means 68-70 is next.

Stocks: SPY