02.28.13
Top Day Market News
GDP comes in +0.1%. The Price aspect of the number is a bit on the hot side. Initial jobless claims down 22K. This reflects a drop in government spending. The chart below reflects the current run at all-time highs. Actually this will be the third time at these levels since the year 2000. The monthly unemployment report will be delayed until next Friday even though tomorrow is the first of the month. The greatest probability of this chart that you’re watching unfold is that we make a new high then fail as the market reflects and bakes in disappointing earnings. Of course there is a certain feeling of quiet dread in front of the implementation of sequestration. This is to go into effect tomorrow and should reduce the federal budget by 2% with cuts phased in incrementally. A common feeling is that budget cuts are needed just not these cuts this way.
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Week of February 25 - March 01 |
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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 |
1497 |
1537 |
1531 |
1548 |
|
Mar Nasdaq |
U |
2653 |
2694 |
2709 |
2764 |
2781 |
2827 |
|
Mar Yen |
D |
105.34 |
106.60 |
107.19 |
109.32 |
107.87 |
108.68 |
|
Mar EC |
D |
129.65 |
130.73 |
130.64 |
131.71 |
133.63 |
135.45 |
|
Mar 10 Year |
PRD(D) |
130.27 |
131.12 |
144.21 |
146.20 |
132.06 |
132.16 |
|
Mar 30 Year |
PRD(D) |
141.29 |
142.30 |
14.28 |
14.50 |
144.20 |
145.09 |
|
May Soybeans |
D |
13.77 |
14.10 |
6.923 |
9.987 |
14.88 |
15.29 |
|
May Corn |
U |
6.72 |
6.78 |
1586.5 |
1609.5 |
6.96 |
7.06 |
|
April Gold |
D |
1520 |
1550 |
28.75 |
29.32 |
1614 |
1679 |
|
May Silver |
D |
27.20 |
27.98 |
1586.1 |
1619 |
29.87 |
30.97 |
|
May Copper |
D |
340 |
345 |
355 |
360 |
370 |
384 |
|
April Crude |
U |
89.38 |
91.37 |
92.17 |
93.36 |
96.42 |
99.48 |
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