02.22.13
Top Day Recommendations
Strangely, an open day in terms of eco releases. There are a few potential trend reversal/trend continuation markets today however. This has been either a brutal or rewarding week depending on which side of the market you were on. So much of the blame for this week’s price action has been attributed to the Federal Reserve’s Open Market Committee Meeting notes or the Beige Book. The perception was that the fed was going to actively consider cutting back its asset repurchase program of $85 billion a month thereby triggering an uptick in rates and an end to the asset bubbles created by free money. The stock market is threatening to have its first losing week in eight and of course the metals got hammered. However, it’s unlikely that the fed will change policy anytime soon. Of more immediate concern is the sequestration on March 1st and unintended consequences.
Enjoy the weekend.
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Week of February 18 - February 22 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Feb 19 |
10:00 |
NAHB Housing Market Index |
Feb |
|
48 |
48 |
47 |
|
|
|
Feb 20 |
07:00 |
MBA Mortgage Index |
02/16 |
|
NA |
NA |
-6.4% |
|
|
|
Feb 20 |
08:30 |
Housing Starts |
Jan |
|
900K |
910K |
954K |
|
|
|
Feb 20 |
08:30 |
Building Permits |
Jan |
|
915K |
918K |
903K |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
|
|
|
|
|
|
|
|
|
Feb 20 |
08:30 |
PPI |
Jan |
|
0.1% |
0.3% |
-0.2% |
|
|
Feb 20 |
08:30 |
Core PPI |
Jan |
|
0.1% |
0.1% |
0.1% |
|
|
Feb 20 |
14:00 |
FOMC Minutes |
1/30 |
|
|
|
|
|
|
Feb 21 |
08:30 |
Initial Claims |
02/16 |
|
365K |
358K |
341K |
|
|
Feb 21 |
08:30 |
Continuing Claims |
02/09 |
|
3200K |
3150K |
3114K |
|
|
Feb 21 |
08:30 |
CPI |
Jan |
|
0.1% |
0.1% |
0.0% |
|
|
Feb 21 |
08:30 |
Core CPI |
Jan |
|
0.1% |
0.2% |
0.1% |
|
|
Feb 21 |
10:00 |
Existing Home Sales |
Jan |
|
4.95M |
4.94M |
4.94M |
|
|
Feb 21 |
10:00 |
Philadelphia Fed |
Feb |
|
2.0 |
1.5 |
-5.8 |
|
|
Feb 21 |
10:00 |
Leading Indicators |
Jan |
|
0.3% |
0.3% |
0.5% |
|
|
Feb 21 |
10:30 |
Natural Gas Inventories |
02/16 |
|
NA |
NA |
-157 bcf |
|
|
Feb 21 |
11:00 |
Crude Inventories |
02/16 |
|
NA |
NA |
0.560M |
|
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) |
1502 |
1509 |
1494 |
1516 |
1523 |
1529 |
|
Mar Nasdaq |
PRD(D) |
2738 |
2749 |
22695 |
2758 |
2774 |
2793 |
|
Mar Yen |
D |
104.58 |
105.00 |
106.70 |
107.97 |
108.37 |
109.11 |
|
Mar EC |
D |
131.81 |
132.39 |
131.20 |
132.58 |
134.84 |
136.11 |
|
Mar 10 Year |
PRD(U) |
130.21 |
131.03 |
131.16 |
132.20 |
131.27 |
132.06 |
|
Mar 30 Year |
U |
141.18 |
142.17 |
143.07 |
144.11 |
144.08 |
144.28 |
|
May Soybeans |
U |
13.80 |
14.02 |
1560 |
1602 |
14.54 |
14.72 |
|
May Corn |
D |
6.73 |
6.86 |
28.43 |
29.26 |
7.12 |
7.26 |
|
April Gold |
D |
1552 |
1581 |
14.66 |
14.94 |
1654 |
1699 |
|
May Silver |
D |
28.45 |
29.12 |
6.813 |
6.927 |
31.03 |
32.20 |
|
May Copper |
D |
367 |
371 |
354 |
365 |
377 |
380 |
|
April Crude |
PRD(D) |
93.77 |
95.19 |
92.00 |
94.29 |
98.34 |
100.07 |
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