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Phone: 312.920.0212
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Merrillville, IN 46410

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Canadian retail sales come in better than expected

Top Day Recommendations

1.24.12

No eco releases, domestically, again today. Overnight, stocks in Europe came off five month highs as Greek debt talks snagged. Canadian retail sales come in better than expected. European Purchasing Managers Index comes in better than expected. Although participants say a Greek debt deal is very close, that all the ducks are in row, it remains elusive as bond holders drag their feet on haircuts.

Week of January 23 - January 27

Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
Jan 07:00 MBA Mortgage Index 01/21   NA NA 23.1%  
25    
               
Jan 10:00 Pending Home Sales Dec   -3.0% -3.0% 7.3%  
25    
               
Jan 10:00 FHFA Housing Price Nov   NA NA -0.2%  
25 Index    
             
Jan 10:30 Crude Inventories 01/21   NA NA -  
25   3.438M  
             
Jan 12:30 FOMC Rate Decision Jan   0.25% 0.25% 0.25%  
25    
               
Jan 08:30 Initial Claims 01/21   375K 375K 352K  
26    
               
Jan 08:30 Continuing Claims 01/14   3550K 3550K 3432K  
26    
               
Jan 08:30 Durable Orders Dec   3.0% 2.0% 3.7% 3.8%
26  
               
Jan 08:30 Durable Orders -ex Dec   1.0% 0.7% 0.3%  
26 Auto    
             
Jan 10:00 New Home Sales Dec   310K 322K 315K  
26    
               
Jan 10:00 Leading Indicators Dec   0.7% 0.7% 0.5%  
26    
               
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
Jan 08:30 GDP-Adv. Q4   3.2% 3.1% 1.8%  
27    
               
Jan 08:30 Chain Deflator-Adv. Q4   0.7% 1.5% 2.6%  
27    
               
Jan 09:55 Michigan Sentiment - Jan   74.5 74.2 74.0  
27   Final            

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

R2 is Weekly Strong Resistance

Levels are for the most active futures contract

    Daily Support and Resistance  
               
  Trend WS2 WS1 DS DR WR1 WR2
Mar U 1270.75 1290.75 1304.50 1317.50 1321.25 1331.75
           
ES   .          
             
Mar U 2332.0 2383 2419.75 2451.25 2464 2493
           
Nasdaq              
Mar U 128.69 129.33 129.60 130.13 130.58 131.39
           
Yen              
Mar U 124.68 127.05 129.15 130.95 130.66 132.08
           
EC              
Mar 10 D 129.07 130.01 129.21 130.13 131.08 132.07
           
Year              
               
Mar 30 D 139.11 140.20 140.13 142.06 144.09 146.21
           
Year              
Mar U 11.43 11.65 12.00 12.27 12.06 12.25
           
Soybea              
ns              
March U 5.84 5.98 6.142 6.234 6.19 6.27
             
Corn              
Feb U 1617.8 1642.4 1666.00 1685 1681.1 1695.2
           
Gold              
Mar U 28.52 30.35 31.78 32.75 33.10 34.03
           
Silver              
Mar U 348 361 374 383 385 396
           
Copper              
Mar D 95.33 95.86 97.90 100.74 101.08 103.77
           
Crude              
               

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.

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.