1.09.2013
Top Day Market News
Today is the calm before the storm otherwise known as Friday’s unemployment report. The release of the FOMC minutes was instructive as they stated that further stimulus to the US economy was not warranted and even potentially harmful. This is a significant shift in sentiment from the Fed as it transits from Bernanke to Yellen. It sets a bullish backdrop to dollar trading. The tone of these notes was almost hawkish. The ADP number came in stronger than expected and many added upwards of 50K to their job creation estimate on Friday.
Bank pf England and the ECB decide rates on Thursday. The Canadian dollar continues to grind lower, to a fresh 3 year low.
Since the end of December crude is down 8.4%. Retracements can be used to short
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Week of January 06 - January 10 |
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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 |
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|
|
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
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 |
PRD(U) |
1804 |
1813 |
1827 |
1836 |
1839 |
1850 |
|
Mar Nasdaq |
PRD(U) |
3443 |
2507 |
3549 |
3574 |
3574 |
3618 |
|
Mar Yen |
PRD(D) |
94.26 |
94.92 |
95.19 |
95.64 |
96.18 |
96.78 |
|
Mar EC |
D |
134.29 |
135.13 |
135.44 |
136.26 |
137.50 |
139.03 |
|
Mar 10 Year Note |
U |
122.15 |
122.26 |
122.27 |
123.15 |
123.14 |
123.23 |
|
Mar 30 Year Bond |
U |
127.05 |
127.25 |
128.11 |
129.08 |
129.03 |
129.21 |
|
Mar Soybean |
PRD(D) |
12.29 |
12.50 |
12.65 |
12.77 |
13.04 |
13.36 |
|
Mar Corn |
D |
4.12 |
4.17 |
4.11 |
4.24 |
4.28 |
4.32 |
|
Feb Gold |
PRD(D) |
1161 |
1199 |
1218.20 |
1242 |
1257 |
1277 |
|
March Silver |
D |
18.04 |
19.69 |
19.27 |
19.83 |
20.81 |
21.48 |
|
March Copper |
U |
329 |
333 |
332 |
336 |
340 |
345 |
|
Feb Crude |
D |
90.00 |
91.72 |
91.61 |
93.58 |
99.28 |
103.13 |
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