1.24.13
Top Day Market News
High volatility day yesterday with several cross currents. Euro manufacturing hit a 2 ½ year high while the Chinese Purchasing Manager’s index comes in much lower than expected. This sent the EC and Swiss massively higher while crunching the Aussie dollar. Copper as barometer of eco strength/weakness of China fell by approximately 5 cents while the polar vortex helped lift crude oil prices. US equities were hit fairly hard as some pointed to demand destruction in the US housing market. The most concerning part of yesterday’s picture was the performance of emerging markets. Those markets had been the engine of growth last year now there are cracks in the engine bock. The S.A. Rand, the currencies of Venezuela, Argentina and Turkey all fell sharply yesterday. UK says there’s no need to raise rates even as their unemployment situation improves. Players will buy any breaks, however. CAD moves out of oversold position on a CPI print. Traders will sell rallies.
Have a better than expected weekend.
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Week of January 20 - January 24 |
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|
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 |
09:00 |
FHFA Housing Price |
Nov |
|
NA |
NA |
0.5% |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
23 |
|
Index |
|
|
|
|
|
|
|
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 |
1810 |
1840 |
1849 |
1865 |
|
Mar Nasdaq |
D |
3445 |
3514 |
3585 |
3638 |
3652 |
3680 |
|
Mar Yen |
U |
94.23 |
95.06 |
95.86 |
97.59 |
96.99 |
98.08 |
|
Mar EC |
U |
133.95 |
134.62 |
135.83 |
137..53 |
136.47 |
137.66 |
|
Mar 10 Year Note |
U |
12.12 |
123.28 |
124.03 |
125.18 |
124.25 |
125.13 |
|
Mar 30 Year Bond |
U |
129.18 |
130.14 |
131.03 |
132.31 |
131.27 |
132.12 |
|
Mar Soybean |
D |
124.49 |
12.64 |
12.69 |
12.90 |
12.95 |
13.11 |
|
Mar Corn |
U |
3.97 |
4.15 |
4.26 |
4.31 |
4.41 |
4.50 |
|
Feb Gold |
D |
1225 |
1239.5 |
1239.7 |
1275.00 |
1261 |
1269 |
|
March Silver |
D |
18.53 |
19.92 |
19.67 |
20.33 |
20.68 |
21.65 |
|
March Copper |
PRD(D) |
327 |
330 |
326 |
332 |
337 |
340 |
|
Mar Crude |
U |
90.25 |
92.20. |
96.54 |
97.97 |
95.69 |
97.09 |
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