1.06.2013
Top Day Market News
The start of the first full trading week of 2014 will end with the all important US non-farm payroll numbers. Better performance in US job creation led the Federal Reserve to announce a tapering of their asset purchase program at the last Federal Open Market Committee meeting. This partial withdrawal of stimulus expressed itself at the beginning of the year with a “risk off” psychology. Crude oil fell sharply, stocks retreated and the Yen advanced against most other currencies. These moves were basically a partial reversal of the major trends of last year. The basic question the market will ask itself this week is whether the Fed’s tapering is a tightening of monetary policy or is it just a modest reduction if the Fed’s balance sheet. The release of the minutes of the last Fed meeting on Wednesday should help answer this question.
For a Monday, today’s a fairly busy day with Factory Orders and the Institute for Supply Management services index both released at 10.
Going into this week, a key market, copper, appears to be rolling over after double topping at 340.
|
|
Week of January 06 - January 10 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Jan 06 |
10:00 |
Factory Orders |
Nov |
|
2.0% |
1.7% |
-0.9% |
|
|
|
Jan 06 |
10:00 |
ISM Services |
Dec |
|
53.0 |
54.6 |
53.9 |
|
|
|
Jan 07 |
08:30 |
Trade Balance |
Nov |
|
-$41.5B |
-$40.4B |
-$40.6B |
|
|
|
Jan 08 |
07:00 |
MBA Mortgage Index |
01/04 |
|
NA |
NA |
NA |
|
|
|
Jan 08 |
08:15 |
ADP Employment Change |
Dec |
|
185K |
203K |
215K |
|
|
|
Jan 08 |
10:30 |
Crude Inventories |
01/04 |
|
NA |
NA |
- 7.007M |
|
|
|
Jan 08 |
14:00 |
FOMC Minutes |
12/18 |
|
|
|
|
|
|
|
Jan 08 |
15:00 |
Consumer Credit |
Nov |
|
$15.0B |
$15.2B |
$18.2B |
|
|
|
Jan 09 |
07:30 |
Challenger Job Cuts |
Dec |
|
NA |
NA |
-20.6% |
|
|
|
Jan 09 |
08:30 |
Initial Claims |
01/04 |
|
340K |
338K |
NA |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jan 09 |
08:30 |
Continuing Claims |
12/28 |
|
2875K |
2875K |
NA |
|
|
Jan 09 |
10:30 |
Natural Gas Inventories |
01/04 |
|
NA |
NA |
-97 bcf |
|
|
Jan 10 |
08:30 |
Nonfarm Payrolls |
Dec |
|
185K |
197K |
203K |
|
|
Jan 10 |
08:30 |
Nonfarm Private Payrolls |
Dec |
|
200K |
198K |
196K |
|
|
Jan 10 |
08:30 |
Unemployment Rate |
Dec |
|
7.1% |
7.0% |
7.0% |
|
|
Jan 10 |
08:30 |
Hourly Earnings |
Dec |
|
0.2% |
0.2% |
0.2% |
|
|
Jan 10 |
08:30 |
Average Workweek |
Dec |
|
34.5 |
34.5 |
34.5 |
|
|
Jan 10 |
10:00 |
Wholesale Inventories |
Nov |
|
-0.2% |
0.2% |
1.4% |
|
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 |
PRD(D) |
1804 |
1813 |
1819 |
1832 |
1839 |
1850 |
|
Mar Nasda q |
PRD(D) |
3443 |
2507 |
3517 |
3556 |
3574 |
3618 |
|
Mar Yen |
U |
94.26 |
94.92 |
95.24 |
96.02 |
96.18 |
96.78 |
|
Mar EC |
D |
134.29 |
135.13 |
135.62 |
136.52 |
137.50 |
139.03 |
|
Mar 10 Year Note |
PRD(U) |
122.15 |
122.26 |
123.22 |
123.17 |
123.14 |
123.23 |
|
Mar 30 Year Bond |
PRD(U) |
127.05 |
127.25 |
128.06 |
129.07 |
129.03 |
129.21 |
|
Mar Soybeans |
U |
12.29 |
12.50 |
12.64 |
12.78 |
13.04 |
13.36 |
|
Mar Corn |
D |
4.12 |
4.17 |
4.19 |
4.28 |
4.28 |
4.32 |
|
Feb Gold |
U |
1161 |
1199 |
1226.7 |
1251 |
1257 |
1277 |
|
March Silver |
U |
18.04 |
19.69 |
19.83 |
20.36 |
20.81 |
21.48 |
|
March Coppe r |
PRD(D) |
329 |
333 |
332 |
337 |
340 |
345 |
|
Feb Crude |
D |
90.00 |
91.72 |
93.13 |
96.16 |
99.28 |
103.13 |
|
|
|
|
|
|
|
|
|
