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The lower prices for crude oil are really indicating the perception that Chinese demand will be contracting.

04.17.13

Top Day Market News

Today’s calendar features the report from the International Energy Agency, the statistical arm of the Department of Energy, regarding the weekly supply and demand for crude oil and its products. In front of this report crude oil is trading to lower levels. This is in spite of a report from the American Petroleum Institute last night showing that crude stocks have declined by 6.7 million barrels for the latest reporting week, the most since the end of December. The lower prices for crude oil are really indicating the perception that Chinese demand will be contracting. The other feature to today’s trade will be the release of the Federal Reserve’s beige book at 2 PM. Of course, this will be analyzed for the future intentions of the Federal Reserve towards economic stimulus. Breaks in the Swiss Franc, the EC, the British Pound as well as the Canadian and Australian dollar will find buyers.

 

 

Date

 

ET

 

Release

 

For

 

Actual

 

Briefing.com Forecast

 

Briefing.com Consensus

 

Prior

 

Revised From

 

Apr 15

 

08:30

 

Empire Manufacturing

 

Apr

 

 

5.0

 

5.0

 

9.2

 

 

Apr 15

 

09:00

 

Net Long-Term TIC Flows

 

Feb

 

 

NA

 

NA

 

$25.7B

 

 

Apr 15

 

10:00

 

NAHB Housing Market Index

 

Apr

 

 

45

 

45

 

44

 

 

Apr 16

 

08:30

 

CPI

 

Mar

 

 

-0.1%

 

-0.1%

 

0.7%

 

 

Apr 16

 

08:30

 

Core CPI

 

Mar

 

 

0.2%

 

0.2%

 

0.2%

 

 

Apr 16

 

08:30

 

Housing Starts

 

Mar

 

 

935K

 

930K

 

917K

 

 

Apr 16

 

08:30

 

Building Permits

 

Mar

 

 

955K

 

945K

 

946K

 

 

Apr 16

 

09:15

 

Industrial Production

 

Mar

 

 

0.4%

 

0.3%

 

0.7%

 

 

Apr 16

 

09:15

 

Capacity Utilization

 

Mar

 

 

78.5%

 

78.4%

 

78.3%

 

79.6%

 

Apr 17

 

07:00

 

MBA Mortgage Index

 

04/13

 

 

NA

 

NA

 

4.5%

 

 

Apr 17

 

10:30

 

Crude Inventories

 

04/13

 

 

NA

 

NA

 

0.250M

 

 

Apr 17

 

14:00

 

Fed's Beige Book

 

Apr

 

 

NA

 

NA

 

NA

 

 

Apr 18

 

08:30

 

Initial Claims

 

04/13

 

 

350K

 

355K

 

346K

 

 

Apr 18

 

08:30

 

Continuing Claims

 

04/6

 

 

3060K

 

3068K

 

3079K

 

 

Apr 18

 

10:00

 

Philadelphia Fed

 

Apr

 

 

3.0

 

2.5

 

2.0

 

 

Apr 18

 

10:00

 

Leading Indicators

 

Mar

 

 

0.0%

 

0.0%

 

0.5%

 

 

Apr 18

 

10:30

 

Natural Gas Inventories

 

04/13

 

 

NA

 

NA

 

-14 bcf

 

 

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

Jun ES

 

U

1522

1552

1551.50

1589

1602

1675

Jun Nasdaq

 

U

2719

2783

2794

2864

2885

2922

Jun JY

 

D

9915

100.16

100.99

103.50

102.10

103.03

Jun EC

 

U

128.98

129.91

130.82

132.59

131.61

162.83

Jun 10 Year

 

U

131.31

132.15

132.23

133.06

133.10

133.21

Jun 30 Year

 

U

144.30

146.07

147.05

148.29

148.13

149.10

July Soybeans

 

D

13.33

13.73

13.57

13.85

14.36

14.58

July Corn

 

U

6.11

6.35

6.27

6.47

6.74

6.90

June Gold

 

D

1399

1438

1337.80

1420.50

1552

1628

July Silver

 

D

24.20

24.98

21.85

24.73

27.27

28.79

July Copper

 

D

324

328

321

335

341

349

June Crude

 

D

87.30

89.11

87.18

90.07

93.56

96.46