3.21.2014
Top Day Market News
Yesterday was spent readjusting positions to reflect new expectations as a result of Janet Yellen’s press conference after the conclusion of the Federal Open market Committee meeting. The time table has been moved up to the eventual end of tapering and the beginning of normalization of interest rates. The tone was more hawkish than most had expected.
Today is triple witching in terms of futures and option expirations which will add to volatility while news event risk in the way of eco releases is minimal. The dollar will continue to be well bid moving forward and this has reversed intermediate trends in the metals. Copper is attempting to establish a new trading range. Crude oil is being driven by momentum traders.
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Week of March 17 - March 21 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Mar 17 |
08:30 |
Empire Manufacturing |
Mar |
|
2.0 |
5.4 |
4.5 |
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Mar 17 |
09:00 |
Net Long-Term TIC Flows |
Jan |
|
NA |
NA |
- $45.9B |
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|
|
Mar 17 |
09:15 |
Industrial Production |
Feb |
|
-0.1% |
0.1% |
-0.3% |
|
|
|
Mar 17 |
09:15 |
Capacity Utilization |
Feb |
|
78.4% |
78.5% |
78.5% |
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|
|
Mar 17 |
10:00 |
NAHB Housing Market Index |
Mar |
|
50 |
50 |
46 |
|
|
|
Mar 18 |
08:30 |
Housing Starts |
Feb |
|
875K |
915K |
880K |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Mar 18 |
08:30 |
Building Permits |
Feb |
|
945K |
955K |
937K |
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Mar 18 |
08:30 |
CPI |
Feb |
|
0.2% |
0.2% |
0.1% |
|
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Mar 18 |
08:30 |
Core CPI |
Feb |
|
0.1% |
0.1% |
0.1% |
|
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Mar 19 |
07:00 |
MBA Mortgage Index |
03/15 |
|
NA |
NA |
-2.1% |
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Mar 19 |
08:30 |
Current Account Balance |
Q4 |
|
-$88.0B |
-$87.6B |
- $94.8B |
|
|
Mar 19 |
10:30 |
Crude Inventories |
03/15 |
|
NA |
NA |
6.180M |
|
|
Mar 19 |
14:00 |
FOMC Rate Decision |
Mar |
|
0.25% |
0.25% |
0.25% |
|
|
Mar 20 |
08:30 |
Initial Claims |
03/15 |
|
330K |
330K |
315K |
|
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Mar 20 |
08:30 |
Continuing Claims |
03/08 |
|
2900K |
2883K |
2855K |
|
|
Mar 20 |
10:00 |
Existing Home Sales |
Feb |
|
4.55M |
4.60M |
4.62M |
|
|
Mar 20 |
10:00 |
Philadelphia Fed |
Mar |
|
2.0 |
2.0 |
-6.3 |
|
|
Mar 20 |
10:00 |
Leading Indicators |
Feb |
|
0.2% |
0.3% |
0.3% |
|
|
Mar 20 |
10:30 |
Natural Gas Inventories |
03/15 |
|
NA |
NA |
-195 bcf |
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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
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Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
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June ES |
|
U |
1803.50 |
1818.0 0 |
1852 |
1873 |
1861.0 0 |
1889.00 |
|
June Nasdaq |
U |
|
3553 |
3584 |
3665 |
3717 |
3686 |
3756 |
|
June Yen |
PRD(D) |
95.95 |
97.35 |
97.37 |
98.01 |
99.48 |
100.21 |
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June EC |
PRD(D) |
137.68 |
138.36 |
137.36 |
138.33 |
139.69 |
140.34 |
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June 10 Year |
PRD(D) |
122.25 |
12323 |
1223.01 |
123.24 |
125.09 |
125.30 |
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June 30 Year Bond |
U |
129.21 |
131.18 |
131.21 |
132.17 |
134.24 |
132.28 |
|
May Soybean |
U |
13.125 |
13.50 |
14.18 |
14.52 |
14.41 |
14.94 |
|
May Corn |
U |
4.64 |
4.78 |
4.71 |
4.84 |
4.95 |
5.04 |
|
Aprl Gold |
D |
1305 |
1346 |
1314 |
1343 |
1404 |
1426 |
|
May Silver |
D |
20.10 |
20.78 |
20.13 |
20.72 |
21.96 |
22.47 |
|
May Copper |
U |
280.50 |
287.50 |
289.660 |
297 |
304.50 |
214.50 |
|
May Crude |
D |
98.52 |
96.79 |
97.35 |
99.34 |
102.03 |
105.06 |
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