1.02.14
Top Day Market News
Globex currencies, stock index futures and bonds didn’t trade last night. Gold and silver did and it was wild, prices no doubt effected by thin trading conditions. After trading to outside support of approximately 1181 on Friday, Gold was threatening to test overhead resistance at 1232 by Thursday morning. (see chart below). The updates on technical levels below have only been updated for gold, silver, copper and crude as the other markets were closed last night.
Asian stocks were lower after Chinese manufacturing contracted. Gold’s low on Tuesday was partially due to the liquidation of 4,000 contracts seemingly from one source which at one point sent prices lower by $9 in one minute. Gold’s loss last year of 28% was the biggest yearly decline since 1981. Physical demand emerged below $1200.00
As US players return from New Year’s celebrations, the Northeast US braces for a winter storm to hit the region on Thursday night into Friday morning to be accompanied by freezing cold temperatures.
Today’s economic calendar will provide another gauge of job creation in the US with weekly unemployment claims. It’s good to remember tat this number will be seasonally effected by the holidays, however. Also, there’s the Institute for Supply Management at 10 am.
|
|
Week of December 30 - January 03 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Dec 30 |
10:00 |
Pending Home Sales |
Nov |
|
-1.0% |
1.5% |
-0.6% |
|
|
|
Dec 31 |
09:00 |
Case-Shiller 20-city Index |
Oct |
|
14.0% |
13.8% |
13.3% |
|
|
|
Dec 31 |
09:45 |
Chicago PMI |
Dec |
|
60.0 |
60.0 |
63.0 |
|
|
|
Dec 31 |
10:00 |
Consumer Confidence |
Dec |
|
73.4 |
77.1 |
70.4 |
|
|
|
Jan 02 |
08:30 |
Initial Claims |
12/28 |
|
340K |
333K |
338K |
|
|
|
Jan 02 |
08:30 |
Continuing Claims |
12/21 |
|
2875K |
2875K |
2923K |
|
|
|
Jan 02 |
10:00 |
Construction Spending |
Nov |
|
0.5% |
0.8% |
0.8% |
|
|
|
Jan 02 |
10:00 |
ISM Index |
Dec |
|
56.7 |
56.9 |
57.3 |
|
|
|
Jan 02 |
10:30 |
Natural Gas Inventories |
12/28 |
|
NA |
NA |
177 bcf |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jan 03 |
11:00 |
Crude Inventories |
12/28 |
|
NA |
NA |
- 4.731M |
|
|
Jan 03 |
14:00 |
Auto Sales |
Dec |
|
NA |
NA |
5.7M |
|
|
Jan 03 |
14:00 |
Truck Sales |
Dec |
|
NA |
NA |
7.1M |
|
MARKET PLACE
Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.
Legend U is Up
D is Down
PRD is Potential Reversal Day S2 is Weekly strong support S1 is Weekly good support DS is Daily Support
DR is Daily Resistance
R1 is Weekly Good Resistance and is calculated once a week on Sunday night
R2 is Weekly Strong Resistance and is calculated once a week on Sunday night
Levels are for the most active futures contract
Daily Support and Resistance
|
|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Mar ES |
U |
1808 |
1822 |
1832 |
1837 |
1845 |
1859 |
|
Mar Nasdaq |
U |
3519 |
3545 |
3556 |
3574 |
3591 |
3612 |
|
Mar Yen |
U |
94.21 |
94.99 |
94.94 |
95.53 |
96.00 |
96.87 |
|
Mar EC |
U |
135.21 |
136.27 |
137.47 |
138.38 |
138.66 |
139.99 |
|
Mar 10 Year Note |
D |
122.08 |
122.31 |
122.30 |
123.12 |
123.17 |
124.03 |
|
Mar 30 Year Bond |
D |
125.30 |
127.03 |
128.08 |
129.04 |
130.13 |
132.18 |
|
Mar Soybean |
U |
12.81 |
12.97 |
13.00 |
13.11 |
13.34 |
13.55 |
|
Mar Corn |
U |
4.19 |
4.26 |
4.205 |
4.25 |
4.33 |
4.39 |
|
Feb Gold |
U |
1180.70 |
1196 |
1186.00 |
1232.50 |
1223 |
1234 |
|
March Silver |
D |
18.990 |
19.51 |
18.82 |
20.42 |
20.35 |
20.64 |
|
March Copper |
U |
325 |
331 |
337.50 |
343.20 |
343 |
348 |
|
Feb Crude |
D |
97.59 |
98.57 |
98.10 |
99.34 |
101.10 |
102.03 |
|
|
|
|
|
|
|
|
|
