02.08.13
Top Day Market News
Balance of trade at 830 and wholesale inventories at 10 round out this news starved week. The US trade deficit narrowed to -38.5 billion on record exports of petroleum. The US purchased the least amount of crude oil from imported sources in 16 years. This will return a provision in fourth-quarter GDP.
The market remains fixated on corporate earnings and the impending blizzard schedule to rock the East Coast this afternoon going into this evening. Expect a swirl of activity just after 10 going into the European close to a total flattening of the market as traders leave to beat commutation problems.
It’s also interesting to note on the grid below that many markets are in potential trend reversal positions. Wait-and- see.
|
|
Week of February 04 - February 08 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Feb 04 |
10:00 |
|
Dec |
|
3.0% |
2.4% |
0.0% |
|
|
|
Feb 05 |
10:00 |
|
Jan |
|
55.5 |
55.6 |
56.1 |
|
|
|
Feb 06 |
07:00 |
MBA Mortgage Index |
02/02 |
|
NA |
NA |
-8.1% |
|
|
|
Feb 06 |
10:30 |
Crude Inventories |
02/02 |
|
NA |
NA |
5.947M |
|
|
|
Feb 07 |
08:30 |
|
02/02 |
|
365K |
360K |
368K |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Feb 07 |
08:30 |
|
01/26 |
|
3200K |
3200K |
3198K |
|
|
Feb 07 |
08:30 |
|
Q4 |
|
-1.5% |
-1.2% |
2.9% |
|
|
Feb 07 |
08:30 |
|
Q4 |
|
3.0% |
2.4% |
-1.9% |
|
|
Feb 07 |
10:30 |
Natural Gas Inventories |
02/02 |
|
NA |
NA |
-194 bcf |
|
|
Feb 07 |
15:00 |
|
Dec |
|
$10.0B |
$11.9B |
$16.0B |
|
|
Feb 08 |
08:30 |
|
Dec |
|
-$42.5B |
-$45.4B |
- $48.7B |
|
|
Feb 08 |
10:00 |
|
Dec |
|
0.7% |
0.3% |
0.6% |
|
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 (Change of Trend) 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 |
PRD(D) |
1489.50 |
1495.50 |
1495 |
1512 |
1505.0 0 |
1522.00 |
|
Mar Nasdaq |
U |
2697.75 |
2727 |
2721 |
2756 |
2774.7 5 |
2793.25 |
|
Mar Yen |
D |
105.59 |
106.75 |
106.44 |
107.94 |
109.86 |
111.87 |
|
Mar EC |
PRD(D) |
133.02 |
134.83 |
137.27 |
135.34 |
137.60 |
138.96 |
|
Mar 10 Year |
PRD(U) |
130.13 |
130.24 |
131.14 |
131.31 |
131.21 |
132.06 |
|
Mar 30 Year |
PRD(U) |
141.05 |
142.02 |
143.05 |
144.09 |
144.01 |
145.06 |
|
Mar Soybeans |
PRD(D) |
14.13 |
14.43 |
14.77 |
14.91 |
14.95 |
15.16 |
|
Mar Corn
|
D |
7.064 |
7.21 |
7.02 |
7.18 |
7.48 |
7.61 |
|
April Gold |
D |
1637 |
1652 |
1661 |
1682 |
1684 |
1700.7 |
|
Mar Silver |
D |
33.07 |
30.95 |
31.15 |
31.79 |
32.50 |
33.18 |
|
Mar Copper |
PRD(D) |
359 |
368 |
371 |
377 |
383 |
387 |
|
Mar Crude |
PRD(D) |
94.37 |
95.97 |
95.17 |
96.84 |
98.74 |
99.870 |
