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Merrillville, IN 46410

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China’s manufacturing index slipped for the fifth consecutive month.

3.24.2014

Top Day Market News

No economic releases today, at least for the US. Overnight, China’s manufacturing index slipped for the fifth consecutive month. Aussie dollar initially fell on the news. The Yen was lower in front of an expected BOJ speech calling for more stimulus to at least partially offset an expected tax increase that’s scheduled to go into effect at the end of next week.

Last Friday provided yet another example of the power of expirations. The March S+P rallied right into 9:30 am when it was priced its final time. The bell rang and that was the high for the day. Orchestration at its best.

 

Week of March 24 - March 28

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Mar 25

09:00

Case-Shiller 20-city Index

Jan

 

13.5%

13.3%

13.4%

 

Mar 25

09:00

FHFA Housing Price Index

Jan

 

NA

NA

0.8%

 

Mar 25

10:00

Consumer  Confidence

Mar

 

77.8

78.2

78.1

 

Mar 25

10:00

New Home Sales

Feb

 

430K

445K

468K

 

Mar 26

07:00

MBA Mortgage Index

03/22

 

NA

NA

-1.2%

 

Mar 26

08:30

Durable Orders

Feb

 

1.0%

1.0%

-1.0%

 

Mar 26

08:30

Durable Goods –ex  transportation

Feb

 

0.3%

0.3%

-1.1%

 

Mar 26

10:30

Crude Inventories

03/22

 

NA

NA

5.850M

 

Mar 27

08:30

Initial Claims

03/22

 

330K

330K

320K

 

                   

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Mar 27

08:30

Continuing Claims

03/15

 

2900K

2900K

2889K

 

Mar 27

08:30

GDP - Third Estimate

Q4

 

2.6%

2.6%

2.4%

 

Mar 27

08:30

GDP Deflator - Third  Estimate

Q4

 

1.6%

1.6%

1.6%

 

Mar 27

10:00

Pending Home Sales

Feb

 

-0.2%

-0.2%

0.1%

 

Mar 27

10:30

Natural Gas Inventories

03/22

 

NA

NA

-48 bcf

 

Mar 28

08:30

Personal Income

Feb

 

0.0%

0.2%

0.3%

 

Mar 28

08:30

Personal Spending

Feb

 

0.2%

0.3%

0.4%

 

Mar 28

08:30

PCE Prices - Core

Feb

 

0.1%

0.1%

0.1%

 

Mar 28

09:55

Michigan Sentiment -  Final

Mar

 

79.5

80.0

79.9

 

 

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

June ES

 

U

1799

1828

1849

1870

1880

1905

June Nasdaq

U

 

3541

3592

3610

3689

3723

3753

June Yen

U

 

96.64

97.25

97.50

98.07

98.68

99.42

June EC

U

 

136.28

137.10

137.67

138.12

139.10

140.20

June 10

Year Note

D

 

122.01

122.21

123.04

123.22

124.12

125.10

June 30

Year Bond

D

 

130.29

131.23

132.25

133.10

133.19

134.18

May Soybean

U

 

13.32

13.79

13.86

14.27

14.51

14.94

May Corn

U

4.66

4.72

4.76

4.83

4.88

4.98

Aprl Gold

D

1277.50

1306

1321

1346

1377

1421

May Silver

D

19.18

19.73

20.06

20.50

21.24

22.20

May Copper

U

282

288

286.50

298.00

300.50

306

May Crude

D

96.58

97.61

98.39

100.39

100.86

102.18