1.22.2013
Top Day Market News
Stocks showed good intraday volatility yesterday as snow fell on Wall Street. The reason was due to the Wall Street Journal reporter Jon Hilsenrath. Many believe that whenever the Federal Reserve wants to float an idea to see how the Street would react, they call on this reporter, feed him the information and he publishes. Yesterday, Hilsenrath wrote a story suggesting that the Federal Reserve could taper its asset purchase program down to 65 Billion a month at its next meeting. This would definitely make the punch bowl less alcoholic. Any reduction in liquidity is an asset bubble negative and stocks probed the downside of ranges before recovering into the close.
Overnight, Australian CPI came in otter than expected and this drove the Aussie momentarily higher on ideas of rate hikes. Aussie CPI came in at 0.8% versus an expected 0.4% for Q4 and 2.7% versus 2.4% year on year. The Q4 reading was the highest since Q4 2011. This doesn’t dispel the lack of job creation in Australia just recently reported.
Bank of England minutes released later today. There’s a considerable amount of rate hike speculation baked into the current pricing of the sterling so the release of the number should be a fade.
Release of crude supply and demand stats will be delayed a day due to the MLK market holiday Monday.
Canadian dollar having trouble with the median going into the Bank of Canada rate decision later today.
|
Week of January 20 - January 24 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jan 22 |
07:00 |
MBA Mortgage Index |
01/18 |
|
NA |
NA |
11.9% |
|
|
Jan 23 |
08:30 |
Initial Claims |
01/18 |
|
330K |
327K |
326K |
|
|
Jan 23 |
08:30 |
Continuing Claims |
01/11 |
|
2900K |
2900K |
3030K |
|
|
Jan 23 |
09:00 |
FHFA Housing Price Index |
Nov |
|
NA |
NA |
0.5% |
|
|
Jan 23 |
10:00 |
Existing Home Sales |
Dec |
|
4.87M |
4.90M |
4.90M |
|
|
Jan 23 |
10:00 |
Leading Indicators |
Dec |
|
0.1% |
0.2% |
0.8% |
|
|
Jan 23 |
10:30 |
Natural Gas Inventories |
01/18 |
|
NA |
NA |
-287bcf |
|
|
Jan 23 |
11:00 |
Crude Inventories |
01/18 |
|
NA |
NA |
- 7.658M |
|
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 |
U |
1793 |
1813 |
1828.50 |
1846.25 |
1849 |
1865 |
|
Mar Nasdaq |
D |
3445 |
3514 |
3587.50 |
3631.00 |
3652 |
3680 |
|
Mar Yen |
U |
94.23 |
95.06 |
95.50 |
96.33 |
96.99 |
98.08 |
|
Mar EC |
U |
133.95 |
134.62 |
135.20 |
135.82 |
136.47 |
137.66 |
|
Mar 10 Year Note |
U |
12.12 |
123.28 |
124.01 |
124.20 |
124.25 |
125.13 |
|
Mar 30 Year Bond |
U |
129.18 |
130.14 |
130.31 |
131.25 |
131.27 |
132.12 |
|
Mar Soybean |
U |
124.49 |
12.64 |
12.69 |
13.03 |
12.95 |
13.11 |
|
Mar Corn |
D |
3.97 |
4.15 |
4.22 |
4.28 |
4.41 |
4.50 |
|
Feb Gold |
D |
1225 |
1239.5 |
1230.60 |
1257.50 |
1261 |
1269 |
|
March Silver |
D |
18.53 |
19.92 |
19.53 |
20.31 |
20.68 |
21.65 |
|
March Copper |
U |
327 |
330 |
332.40 |
336.00 |
337 |
340 |
|
Feb Crude |
PRD(U) |
90.25 |
92.20. |
93.32 |
95.73 |
95.69 |
97.09 |
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