Top Day Recommendations
January 26
The big deal of the day will be the Federal Open Market Committee meeting
and their interest rate decision at 2:15. It’s always good to be flat around
this release. Although no one expects movement on rates, the verbiage of
the communiqué is the kindling for the next fire.
There will be the analysis of the State of the Union address last night.
Stocks received an overnight bounce from the speech. Yesterday we saw
consumer confidence come in much higher than expected while UK GDP
contracted due to massively inclement weather.
NY City may be looking at its sixth snow event of the season today. Why
go to Davos when you can find a snow drift at 33rd and 3rd just as easily?
Week of January 24 - January 28
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Jan 25 09:00 Case-Shiller 20-city Index Nov -1.0% -1.3% -0.80%
Jan 25 10:00 Consumer Confidence Jan 53.5 53.5 52.5
Jan 25 10:00 FHFA Housing Price Index Nov NA NA 0.7%
Jan 26 07:00 MBA Mortgage Purchase Index 01/21 NA NA +5%
Jan 26 10:00 New Home Sales Dec 280K 300K 290K
Jan 26 10:30 Crude Inventories 01/22 NA NA 2.62M
Jan 26 14:15 FOMC Rate Decision Jan 0.25% 0.25% 0.25%
Jan 27 08:30 Initial Claims 01/22 400K 408K 404K
Jan 27 08:30 Continuing Claims 01/22 3800K 3835K 3861K
Jan 27 08:30 Durable Orders Dec 1.5% 1.5% -0.3% -1.3%
Jan 27 08:30 Durable Orders ex
Transportation
Dec 1.0% 0.6% 3.6% 2.4%
Jan 27 10:00 Pending Home Sales Nov -2.0% -0.5% 3.5%
Jan 28 08:30 GDP-Adv. Q4 3.4% 3.8% 2.6%
Jan 28 08:30 Chain Deflator-Adv. Q4 2.0% 1.6% 2.1%
Date ET Release For Actual Briefing.com Consensus Prior Revised
From
Jan 28 08:30 Employment Cost Index Q4 0.4% 0.4% 0.4%
Jan 28 09:55 Michigan Sentiment – Final Jan 73.5 73.2 72.7
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 1252 1266 1279 1293 1294 1309
Emini NQ PRD 2213 2241 2287 2309 2321 2374
Yen P 119.33 120.21 121.16 122.19 122.10 123.11
EC P 130.94 133.42 135.88 137.18 137.30 138.70
10 year P 118.24 119.14 119.17 120.22 121.02 121.31
30 year P 117.29 119.00 120.13 121.24 121.15 122.27
Soybeans N 13.60 13.86 13.6 13.98 14.24 14.57
Corn PRD 6.11 6.34 6.37 6.53 6.73 6.90
Gold P 1310 1326 1313.5 1340 1368 1394
Silver N 25.61 26.55 26.55 27.04 28.96 30.43
Copper N 409 420 420 425.8 444 457
Mar
Crude N 86.18 87.64 85.59 87.32 91.79 94.48
Sugar P 29.23 30.78 31.24 32.33 33.13 33.93
**************
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.