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Initial and continuing claims kick off the day.

Market News

01.17.14

Top Day Recommendations

Initial and continuing claims kick off the day. Then housing starts and building permits capped off by the Philly Fed at 10:00. This should be enough of a slalom course for the market to navigate today. Overnight, risk is on with equities higher and bonds lower. Yesterday, bonds rallied on the idea that political infighting over the debt ceiling will crimp eco growth and increase demand for defensive instruments. Today, there’s a different spin at least in the early going. Standing back a bit, the NOB or Notes over Bonds, 10’s over 30’s have been aggressively working a downside channel since November.

All 787 Dreamliners have been grounded on concerns over their lithium-ion battery.  Platinum continues to be aggressively bought on breaks. MLK holiday looms on Monday so look for book squaring considerations.

 

 

Week of January 14 - January 18

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

Jan 15

 

08:30

 

Retail Sales

 

Dec

 

 

0.4%

 

0.2%

 

0.3%

 

 

Jan 15

 

08:30

 

Retail Sales ex-auto

 

Dec

 

 

0.5%

 

0.3%

 

0.0%

 

 

Jan 15

 

08:30

 

PPI

 

Dec

 

 

0.0%

 

0.0%

 

-0.8%

 

 

Jan 15

 

08:30

 

Core PPI

 

Dec

 

 

0.1%

 

0.2%

 

0.1%

 

 

 

                 

 

 

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

Jan 15

 

08:30

 

Empire Manufacturing

 

Jan

 

 

0.0

 

2.0

 

-8.1

 

 

Jan 15

 

10:00

 

Business Inventories

 

Nov

 

 

0.3%

 

0.3%

 

0.4%

 

 

Jan 16

 

07:00

 

MBA Mortgage Index

 

01/12

 

 

NA

 

NA

 

11.7%

 

 

Jan 16

 

08:30

 

CPI

 

Dec

 

 

0.0%

 

0.0%

 

-0.3%

 

 

Jan 16

 

08:30

 

Core CPI

 

Dec

 

 

0.1%

 

0.1%

 

0.1%

 

 

Jan 16

 

09:00

 

Net Long-Term TIC Flows

 

Nov

 

 

NA

 

NA

 

$1.3B

 

 

Jan 16

 

09:15

 

Industrial Production

 

Dec

 

 

0.1%

 

0.2%

 

1.1%

 

 

Jan 16

 

09:15

 

Capacity Utilization

 

Dec

 

 

78.5%

 

78.5%

 

78.4%

 

 

Jan 16

 

10:00

 

NAHB Housing Market Index

 

Jan

 

 

47

 

48

 

47

 

 

Jan 16

 

10:30

 

Crude Inventories

 

01/12

 

 

NA

 

NA

 

1.314M

 

 

Jan 16

 

14:00

 

Fed's Beige Book

 

Jan

 

 

 

 

 

 

Jan 17

 

08:30

 

Initial Claims

 

01/12

 

 

375K

 

370K

 

371K

 

 

Jan 17

 

08:30

 

Continuing Claims

 

01/05

 

 

3150K

 

3100K

 

3109K

 

 

Jan 17

 

08:30

 

Housing Starts

 

Dec

 

 

880K

 

889K

 

861K

 

 

Jan 17

 

08:30

 

Building Permits

 

Dec

 

 

880K

 

905K

 

899K

 

 

Jan 17

 

10:00

 

Philadelphia Fed

 

Jan

 

 

1.0

 

5.2

 

4.6

 

8.1

 

Jan 17

 

10:30

 

Natural Gas Inventories

 

01/12

 

 

NA

 

NA

-189

bcf

 

 

Jan 18

 

09:55

 

Mich Sentiment

 

Jan

 

 

76.0

 

75.0

 

72.9

 

 

 

 

 

 

 

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


D

1436

1451

1456

1469

1477

1487

Mar Nasdaq


U

2683

2713

2712

2738

2759

2774

Mar Yen


U

109.71

110.95

112.43

114.56

114.32

116.45

Mar EC


PRD(D)

129.00

131.23

132.26

133.31

134.71

135.96

Mar 10 Year


U

131.05

131.17

132.06

132.19

132.06

132.16

Mar 30 Year


U

143.26

144.17

145.24

146.28

145.26

146.12

Mar Soybeans


D

13.29

13.51

14.024

14.46

13.94

14.16

Mar Corn


U

6.57

6.83

7.254

7.40

7.29

7.49

Feb Gold


U

1625

1643

1675.9

1687.6

1679

1697.4

Mar Silver


U

29.32

29.88

31.23

31.71

30.97

31.50

Mar Copper


D

361

363

357

363

370

374

Feb Crude


D

91.35

92.56

92.64

94.70

94.84

95.91

 

 

 

 

 

 

 

 

 News