1.07.2013
Top Day Market News
Just the Balance of Trade today at 8:30.
Last night Janet Yellen received Senate confirmation for her nomination as the next Chairman of the Federal Reserve.
Trading remains thin in terms of volume. In fact, yesterday’s trade was the third slowest beginning of a full trading week in the last 10 years. Markets need volume to trend. Open interest in S+P futures are at fifteen year lows. Copper shook of its negative tendencies. Stocks continue to feel heavy but are short term oversold. Bonds want to continue to drift higher. The market is looking for a catalyst to spark the next move. Complacency is high. Leverage is also very high. The jobless numbers on Friday suggests the potential of a considerable event risk. Federal Reserve governors sound more hawkish lately regarding tapering.
Metals have decoupled from dollar trading over the past week. Gold should investigate the highs of early December.
Meanwhile, the EC should find resistance at 136.68 and 137 before attacking the 135 level.
|
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 |
|
|
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 |
D |
1804 |
1813 |
1614 |
1629 |
1839 |
1850 |
|
Mar Nasdaq |
D |
3443 |
2507 |
3502 |
3536 |
3574 |
3618 |
|
Mar Yen |
U |
94.26 |
94.92 |
95.40 |
96.38 |
96.18 |
96.78 |
|
Mar EC |
D |
134.29 |
135.13 |
135.86 |
136.68 |
137.50 |
139.03 |
|
Mar 10 Year Note |
U |
122.15 |
122.26 |
123.02 |
123.31 |
123.14 |
123.23 |
|
Mar 30 Year Bond |
U |
127.05 |
127.25 |
128.13 |
129.16 |
129.03 |
129.21 |
|
Mar Soybeans |
U |
12.29 |
12.50 |
12.63 |
12.82 |
13.04 |
13.36 |
|
Mar Corn |
PRD(U) |
4.12 |
4.17 |
4.21 |
4.30 |
4.28 |
4.32 |
|
Feb Gold |
U |
1161 |
1199 |
1217 |
1252 |
1257 |
1277 |
|
March Silver |
U |
18.04 |
19.69 |
19.91 |
20.54 |
20.81 |
21.48 |
|
March Copper |
U |
329 |
333 |
334 |
337 |
340 |
345 |
|
Feb Crude |
D |
90.00 |
91.72 |
92.35 |
94.28 |
99.28 |
103.13 |
|
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