01.11.13
Top Day Recommendations
Trade Balance comes in at -48.78 billion against an expected -41.3 Billion on a holiday surge in imports. This does little to ripple the bond market but boosts the EC especially on crosses against the Yen as Japan approves 116 billion in stimulus. Crude may end with a negative weekly close as China may take action to halt inflationary pressures. Also, stocks for all three major components of the oil complex are at levels not seen since 1993. In addition to this, US production is expected to be up 900,000 barrels a day by year end 2013. It's difficult to see the eco engines of the world eating through this ample supply. Be focused on the weekly closes for these three components. Consider bearish option strategies should this unfold.
|
|
Week of January 07 - January 11 |
||||||
|
Date |
ET |
Release |
For |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
|
|
Jan 08 |
15:00 |
|
Nov |
$8.0B |
$10.6B |
$14.2B |
|
|
Jan 09 |
07:00 |
MBA Mortgage Index |
01/05 |
NA |
NA |
NA |
|
|
Jan 09 |
10:30 |
Crude Inventories |
01/05 |
NA |
NA |
-11.1M |
|
|
Jan 10 |
08:30 |
|
01/05 |
365K |
366K |
372K |
|
|
Jan 10 |
08:30 |
|
12/29 |
3200K |
3200K |
3245K |
|
|
Jan 10 |
10:00 |
|
Nov |
0.2% |
0.1% |
0.6% |
|
|
Jan 10 |
10:30 |
Natural Gas Inventories |
01/05 |
NA |
NA |
- 135BCF |
|
|
Jan 11 |
08:30 |
|
Nov |
-$45.0B |
-$41.8B |
-$42.2B |
|
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 (Change of Trend) 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) |
1350 |
1408 |
1457.5 |
1471.25 |
1487 |
1514 |
|
Mar Nasdaq |
PRD(U) |
2514 |
2614 |
2719 |
2749 |
2781 |
2847 |
|
Mar Yen |
D |
111.00 |
112.26 |
112.21 |
113.91 |
115.69 |
117.86 |
|
Mar EC |
D |
128.40 |
129.60 |
131.10 |
133.44 |
132.44 |
134.08 |
|
Mar 10 Year |
U |
129.30 |
130.23 |
131.17 |
131.30 |
132.21 |
133.26 |
|
Mar 30 Year |
U |
140.13 |
142.14 |
144.15 |
145.10 |
147.20 |
150.25 |
|
Mar Soybeans |
D |
13.07 |
13.37 |
13.65 |
13.90 |
14.16 |
14.65 |
|
Mar Corn |
U |
6.61 |
6.70 |
6.95 |
7.01 |
6.98 |
7.16 |
|
Feb Gold |
D |
1590.3 |
1624.1 |
1661.6 |
1686 |
1693.5 |
1729.00 |
|
Mar Silver |
D |
28.02 |
29.11 |
30.46 |
31.16 |
31.40 |
32.61 |
|
Mar Copper |
D |
350 |
360 |
367 |
372 |
377 |
385 |
|
Feb Crude |
D |
88.48 |
90.03 |
93.03 |
94.65 |
94.70 |
96.22 |
