Top Day Recommendations
January 21
No eco data today. The threat of higher Chinese interest rates took the
wind out of metals and oil yesterday. The commodity currencies, Canadian
and Aussie, remain under pressure. The only competition gold has is
interest rates. With the prospect of higher Chinese rates, gold suffers as it
did yesterday. As a group, commodities have been in a correction, having
declined three out of the past four weeks.
Another snow event morning in New York City.
German business confidence comes out and is at its best level in 20 years.
French business confidence at a three week high.
Week of January 17 - January 21
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Jan 18 08:30 Empire Manufacturing Jan 12.0 12.0 10.57
Jan 18 09:00 Net Long-Term TIC Flows Nov NA NA $27.6B
Jan 18 10:00 NAHB Housing Market Index Jan 15 16 16
Jan 19 07:00 MBA Mortgage Purchase Index 01/14 NA NA +2.2%
Jan 19 08:30 Housing Starts Dec 540K 550K 555K
Jan 19 08:30 Building Permits Dec 540K 560K 530K
Jan 20 08:30 Initial Claims 01/15 430K 425K 445K
Jan 20 08:30 Continuing Claims 01/08 4000K 3900K 3879K
Jan 20 10:00 Existing Home Sales Dec 4.85M 4.80M 4.68M
Jan 20 10:00 Leading Indicators Dec 0.7% 0.6% 1.1%
Jan 20 10:00 Philadelphia Fed Jan 21.0 20.5 20.8 24.3
Jan 20 11:00 Crude Inventories 01/15 NA NA -2.15M
Current views, speculations and suggestions
good till close of business today. These are strictly technical in nature
only, not fundamentally based or biased.
Legend:
P is positive
N is Negative
PRD is Potential Trend Reversal Day
S2 is strong support
S1 is good support
DS is Daily Support
DR is Daily Resistance
R1 is Good resistance
R2 is Strong Resistance
S1, S2, R1, R2 change once, weekly, so DS can be below weekly support
levels and DR can be above weekly resistance levels as a week of trading
unfolds
Levels are for the most active futures contract.
DAILY SUPPORT AND RESISTANCE
Trend S2 S1 DS DR R1 R2
Emini
S&P N 1247 1268 1268 1282 1300 1311
Emini NQ P 2239 2279 2265 2298 2341 2363
Yen N 119.07 119.78 119.90 121.50 121.35 122.16
EC P 126.42 129.37 133.98 135.26 135.80 138.00
10 year P 119.10 120.02 118.24 119.30 121.17 122.08
30 year P 118.31 119.16 118.16 120.16 121.31 123.03
Soybeans P 13.26 14.10 13.91 14.29 1451 14.80
Corn P 5.79 6.14 6.35 6.63 6.65 6.85
Gold P 1331 13466 1335 1364 1384 1407
Silver N 27.06 27.50 26.96 28.37 29.51 30.50
Copper N 419 431 420 436 449 451
Mar
Crude P 87.50 90.13 88.40 91.30 94.30 95.37
Sugar P 2765 2979 30.44 31.80 3346 3539
**************
N.B.: if you initiate a trade using ANY of these
numbers use a STOP at least equivalent to 2 ½%.
Repeat: use Stops. Don’t think about using Stops.
Use Stops. Some find it appropriate to look at the
margin requirement and use that as a Stop or if
it’s a steep initial requirement, use half. But
whatever you do, stop thinking about any other
alternative and use Stops.
********************************************
Futures trading entails considerable risk and is not for
everyone. An account can lose more than its initial investment.
Stops are not necessarily filled at the stop level. Past
performance is not a guarantee of future results.
Charles Kespert
***********************
HYPOTHETICAL PERFORMANCE RESULTS HAVE
MANY INHERENT LIMITATIONS, SOME OF WHICH
ARE DESCRIBED BELOW. NO REPRESENTATION IS
BEING MADE THAT ANY ACCOUNT WILL OR IS
LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR
TO THOSE SHOWN. IN FACT, THERE ARE
FREQUENTLY SHARP DIFFERENCES BETWEEN
HYPOTHETICAL PERFORMANCE RESULTS AND THE
ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY
ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL
PERFORMANCE RESULTS IS THAT THEY ARE
GENERALLY PREPARED WITH THE BENEFIT OF
HINDSIGHT. IN ADDITION, AL TRADING DOES NOT
INVOLVE FINANCIAL RISK, AND NO
HYPOTHETIOTHETICAL TRADING RECORD CAN
COMPLETELY ACCOUNT FOR THE IMPACT OF
FINANCIAL RISK IN ACTUAL TRADING. FOR
EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR
TO ADHERE TO A PARTICULAR TRADING PROGRAM
IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS
WHICH CAN ALSO ADVERSELY AFFECT ACTUAL
TRADING RESULTS. THERE ARE NUMEROUS OTHER
FACTORS RELATED TO THE MARKETS IN GENERAL
OR TO THE IMPLEMENTATION OF ANY SPECIFIC
TRADING PROGRAM WHICH CANNOT BE FULLY
ACCOUNTED FOR IN THE PREPARATION OF
HYPOTHETICAL PERFORMANCE RESULTS AND ALL
OF WHICH CAN ADVERSELY AFFECT ACTUAL
TRADING RESULTS.