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Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


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9247 Broadway
Suite EE
Merrillville, IN 46410

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The dollar is weaker this morning.

2.12.2014

Top Day Market News

Today brings us the second day of Janet Yellen’s Humphrey Hawkins testimony which is basically a redux of what happened yesterday.  The new Fed head endorsed the taper and didn’t suggest higher short term rates through rate hikes any time soon. Stocks were enthused by this message while rates continued to back up probably from flows out of bonds back into stocks. The market continues to be caught up in a volatility play. It’s the VIX: at 21 expect equities to rally while at 12 and below look for selling to re-emerge and always remember that panic is more contagious than greed.

The dollar is slightly weaker this morning on the idea that US retail sales will be soft tomorrow, thanks largely to weather. Last night, China stated that January shipments were higher by 10.6% and imports were higher by 10%.

This surprised market watchers. Some believe that this latest data is exaggerated, distorted by false invoicing. China’s neighbors Taiwan and S. Korea both registered weak numbers for January. Many economists believe that China in 2014 will grow at its slowest pace in 24 years.

 

Week of February 10 - February 14

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Feb 11

10:00

JOLTS - Job

Openings

Dec

 

NA

NA

4.001M

 

Feb 11

10:00

Wholesale  Inventories

Dec

 

NA

NA

0.5%

 

                   

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Feb 12

07:00

MBA Mortgage Index

02/08

 

NA

NA

0.4%

 

Feb 12

10:30

Crude Inventories

02/08

 

NA

NA

0.440M

 

Feb 12

14:00

Treasury Budget

Jan

 

NA

NA

$2.9B

 

Feb 13

08:30

Initial Claims

02/08

 

NA

NA

331K

 

Feb 13

08:30

Continuing Claims

02/01

 

NA

NA

2964K

 

Feb 13

08:30

Retail Sales

Jan

 

NA

NA

0.2%

 

Feb 13

08:30

Retail Sales ex-auto

Jan

 

NA

NA

0.7%

 

Feb 13

10:00

Business Inventories

Dec

 

NA

NA

0.4%

 

Feb 13

10:30

Natural Gas Inventories

02/08

 

NA

NA

-262bcf

 

Feb 14

08:30

Export Prices ex-ag.

Jan

 

NA

NA

0.3%

 

Feb 14

08:30

Import Prices ex-oil

Jan

 

NA

NA

-0.1%

 

Feb 14

09:15

Industrial Production

Jan

 

NA

NA

0.3%

 

Feb 14

09:15

Capacity Utilization

Jan

 

NA

NA

79.2

 

Feb 14

09:55

Mich Sentiment

Feb

 

NA

NA

81.2

 

 

 

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

1712

1752

1798

1823

1814

1835

Mar Nasdaq

U

3362

3461

3585

3633

3611

3661

Mar Yen

U

96.41

67.09

97.22

97.82

98.86

99.95

Mar EC

U

134.13

135.20

136.17

136.71

136.90

137.53

 

Mar 10 Year Note

D

124.19

125.09

125.04

125.28

126.18

127.25

Mar 30 Year Bond

D

130.22

132.03

131.30

133.12

134.26

136.10

Mar Soybean

U

12.58

12.95

13.19

13.44

13.51

13.78

Mar Corn

U

4.27

4.35

4.37

4.44

4.49

4.55

Aprl Gold

U

1226

1241

1277

1298

128

1294

March Silver

U

18.51

19.24

19.94

20.32

20.52

21.06

March Copper

D

315

319.50

320.010

324.60

327

329.60

Mar Crude

U

94.90

97.52

99.50

101.04

101.50

102.86