04.26.13
Top Day Market News
A first glimpse at first quarter GDP shows a growth of 2.5%. The street had been expecting a shot at 3% or better based on inventory buildup but that was not to be. It’s also questionable if consumer spending will stand up in the face of sequestration and higher taxes. Crude oil should have a hard time pulling off intermediate trend reversal given this number. Even with all their problems, Italy sales $8 billion worth of 84 day bills at a record low of 0.503%. the conclusion of the bank of Japan meeting regarding interest rates created a wild trading night as statements sent stocks on the Nikkei lower and the yen higher.
Enjoy the weekend. The market will continue to buy breaks in bonds even in the face of next Friday’s unemployment report.
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Week of April 22 - April 26 |
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Apr 22 |
10:00 |
Existing Home Sales |
Mar |
|
4.90M |
5.01M |
4.98M |
|
|
|
Apr 23 |
09:00 |
FHFA Housing Price Index |
Feb |
|
NA |
NA |
0.6% |
|
|
|
Apr 23 |
10:00 |
New Home Sales |
Mar |
|
415K |
415K |
411K |
|
|
|
Apr 24 |
07:00 |
MBA Mortgage Index |
04/20 |
|
NA |
NA |
4.8% |
|
|
|
Apr 24 |
08:30 |
Durable Orders |
Mar |
|
-4.0% |
-3.1% |
5.6% |
5.7% |
|
|
Apr 24 |
08:30 |
Durable Goods –ex transportation |
Mar |
|
-0.1% |
0.0% |
-0.7% |
- 0.5% |
|
|
Apr 24 |
10:30 |
Crude Inventories |
04/20 |
|
NA |
NA |
- 1.233M |
|
|
Apr 25 |
08:30 |
Initial Claims |
04/20 |
|
355K |
351K |
352K |
|
|
Apr 25 |
08:30 |
Continuing Claims |
04/13 |
|
3060K |
3060K |
3068K |
|
|
Apr 25 |
10:30 |
Natural Gas Inventories |
04/20 |
|
NA |
NA |
31 bcf |
|
|
Apr 26 |
08:30 |
GDP-Adv. |
Q1 |
|
3.2% |
2.8% |
0.4% |
|
|
Apr 26 |
08:30 |
Chain Deflator-Adv. |
Q1 |
|
1.7% |
1.6% |
1.0% |
|
|
Apr 26 |
09:55 |
Michigan Sentiment - Final |
Apr |
|
73.5 |
72.4 |
72.3 |
|
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 |
1502 |
1525 |
1572.5 |
1589.75 |
1577 |
1606 |
|
Jun Nasdaq
|
U |
2655 |
2713 |
2821 |
2861 |
2840 |
2909 |
|
Jun JY
|
D |
98.06 |
99.27 |
100.42 |
101.33 |
102.76 |
105.04 |
|
Jun EC
|
U |
128.91 |
129.78 |
129.76 |
130.81 |
131.80 |
132.95 |
|
Jun 10 Year
|
U |
132.17 |
132.28 |
132.245 |
133.09 |
133.08 |
133.17 |
|
Jun 30 Year
|
U |
146.16 |
148.10 |
147.21 |
148.15 |
148.25 |
149.14 |
|
July Soybeans
|
D |
13.27 |
13.55 |
13.33 |
13.82 |
14.05 |
14.27 |
|
July Corn
|
U |
6.10 |
6.21 |
6.19 |
6.284 |
6.44 |
6.56 |
|
June Gold
|
U |
1234 |
1320 |
1436 |
1494 |
1484 |
1581 |
|
July Silver
|
D |
18.53 |
20.01 |
23.37 |
24.79 |
25.88 |
28.46 |
|
July Copper
|
PRD( U) |
298 |
303 |
317 |
327 |
337 |
350 |
|
June Crude
|
D |
83.05 |
85.65 |
91.87 |
94.03 |
91.12 |
93.97 |
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