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Stocks modestly higher and the dollar modestly weaker.

Market News

02.27.13

Top Day Recommendations

Overnight, a mixed bag with the dollar weaker as the durable goods fell 5.2%. There is another metric which indicates this number is not quite as bad as it first looks; nondefense capital goods orders were up 6.3%. Stocks modestly higher, the dollar modestly weaker, bonds higher and, you can see from the grid below, today is a make or break day for the metals. In other words they could reverse their intermediate negative trends. We’ll see get pending home sales at 10 o’clock. Yesterday’s number was obviously good in terms of new home sales. Also we get the weekly supply/demand numbers for crude oil and its products. Oil trading is quiet ahead of this. Of course the most notable aspect of the oil market is gasoline prices over four dollars a gallon at the pump in February, hardly the peak of the driving season.

 

 

Week of February 25 - March 01

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

Feb 26

 

09:00

 

Case-Shiller 20-city Index

 

Dec

 

 

6.0%

 

6.5%

 

5.5%

 

 

Feb 26

 

09:00

 

FHFA Housing Price Index

 

Dec

 

 

NA

 

NA

 

0.6%

 

 

Feb 26

 

10:00

 

New Home Sales

 

Jan

 

 

375K

 

385K

 

369K

 

 

Feb 26

 

10:00

 

Consumer Confidence

 

Feb

 

 

62.5

 

62.0

 

58.6

 

 

Feb 27

 

07:00

 

MBA Mortgage Index

 

02/23

 

 

NA

 

NA

 

-1.7%

 

 

Feb 27

 

08:30

 

Durable Orders

 

Jan

 

 

-5.0%

 

-4.0%

 

4.3%

 

4.6%

 

Feb 27

 

08:30

 

Durable Goods –ex transportation

Jan

 

-0.5%

0.2%

1.0%

1.3%

 

Feb 27

 

10:00

 

Pending Home Sales

 

Jan

 

 

1.0%

 

1.0%

 

-4.3%

 

 

Feb 27

 

10:30

 

Crude Inventories

 

02/23

 

 

NA

 

NA

 

4.143M

 

 

Feb 28

 

08:30

 

Initial Claims

 

02/23

 

 

365K

 

360K

 

362K

 

 

Feb 28

 

08:30

 

Continuing Claims

 

02/16

 

 

3150K

 

3150K

 

3148K

 

 

Feb 28

 

08:30

 

GDP - Second Estimate

 

Q4

 

 

0.1%

 

0.5%

 

-0.1%

 

 

Feb 28

 

08:30

 

GDP Deflator - Second Estimate

 

Q4

 

 

0.6%

 

0.6%

 

0.6%

 

 

Feb 28

 

09:45

 

Chicago PMI

 

Feb

 

 

54.0

 

54.0

 

55.6

 

 

Feb 28

 

10:30

 

Natural Gas Inventories

 

02/23

 

 

NA

 

NA

-127

bcf

 

 

Mar 01

 

08:30

 

Personal Income

 

Jan

 

 

-2.4%

 

-2.4%

 

2.6%

 

 

Mar 01

 

08:30

 

Personal Spending

 

Jan

 

 

0.1%

 

0.2%

 

0.2%

 

 

Mar 01

 

08:30

 

PCE Prices - Core

 

Jan

 

 

0.2%

 

0.2%

 

0.0%

 

 

Mar 01

 

09:55

 

Michigan Sentiment - Final

 

Feb

 

 

75.0

 

76.3

 

76.3

 

 

Mar 01

 

10:00

 

ISM Index

 

Feb

 

 

52.0

 

52.4

 

53.1

 

 

Mar 01

 

10:00

 

Construction Spending

 

Jan

 

 

0.2%

 

0.5%

 

0.9%

 

 

Mar 01

 

14:00

 

Auto Sales

 

Feb

 

 

NA

 

NA

 

5.6M

 

 

Mar 01

 

14:00

 

Truck Sales

 

Feb

 

 

NA

 

NA

 

6.5M

 


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


U

1478

1496

1484.25

1499.25

1531

1548

Mar Nasdaq


U

2653

2694

2692

2721

2781

2827

Mar Yen


PRD(U)

105.34

106.60

107.80

109.74

107.87

108.68

Mar EC


D

129.65

130.73

129.61

131.14

133.63

135.45

Mar 10 Year


U

130.27

131.12

132.14

133.05

132.06

132.16

Mar 30 Year


U

141.29

142.30

145.07

146.23

144.20

145.09

May Soybeans


D

13.77

14.10

14.09

14.42

14.88

15.29

May Corn


D

6.72

6.78

6.86

6.99

6.96

7.06

April Gold


PRD(U)

1520

1550

1592.90

1628

1614

1679

May Silver


PRD(U)

27.20

27.98

28.78

29.67

29.87

30.97

May Copper


PRD(U) D

340

345

354

360

370

384

April Crude


U

89.38

91.37

91.88

93.40

96.42

99.48

 

 

 

 

 

 

 

 

 

 News