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FOMC meeting today and its interest rate decision at 2:15

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.