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European unemployment is at a 15 year high

Market News

Top Day Market News

5.02

ADP, the private job forecast came in with a disappointing add of only 119K for April. That’s 50K less than expected. On this, the usual fallout; bonds higher, stocks lower, crude lower on less off-take. The European unemployment rate is at its highest level in almost 15 years. Perhaps offsetting news will come with Factory Orders at 10.

We also get oil inventories at 10:30.

Yesterday’s better than expected ISM number sent everything higher. All of this is just creating a fake out, breakout market.

Week of April 30 - May 04

Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
         
Forecast
Consensus
 
From
Apr
08:30
Personal Income
Mar
 
0.8%
0.2%
0.2%
 
30
   
               
Apr
08:30
Personal Spending
Mar
 
0.8%
0.5%
0.8%
 
30
   
               
Apr
08:30
PCE Prices - Core
Mar
 
0.2%
0.2%
0.1%
 
30
   
               
Apr
09:45
Chicago PMI
Apr
 
60.0
60.0
62.2
 
30
   
               
May
10:00
ISM Index
Apr
 
52.5
53.0
53.4
 
01
   
               
May
10:00
Construction
Mar
 
0.8%
0.5%
-1.1%
 
01
Spending
   
             
May
14:00
Auto Sales
Apr
 
NA
5.4M
5.1M
 
01
   
               
May
14:00
Truck Sales
Apr
 
NA
5.7M
5.7M
 
01
   
               
May
07:00
MBA Mortgage Index
04/28
 
NA
NA
-3.8%
 
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
02                
May 08:15 ADP Employment Apr   170K 170K 209K  
02 Change    
             
May 10:00 Factory Orders Mar   -2.5% -1.8% 1.3%  
02    
               
May 10:30 Crude Inventories 04/28   NA NA 3.978M  
02    
               
May 07:30 Challenger Job Cuts Apr   NA NA -8.8%  
03    
               
May 08:30 Initial Claims 04/28   375K 375K 388K  
03    
               
May 08:30 Continuing Claims 04/21   3300K 3300K 3315K  
03    
               
May 08:30 Productivity-Prel Q1   -0.5% -0.6% 0.9%  
03    
               
May 08:30 Unit Labor Costs Q1   3.0% 3.0% 2.8%  
03    
               
May 10:00 ISM Services Apr   56.5 55.5 56.0  
03    
               
May 08:30 Nonfarm Payrolls Apr   140K 162K 120K  
04    
               
May 08:30 Nonfarm Private Apr   145K 167K 121K  
04 Payrolls    
             
May 08:30 Unemployment Rate Apr   8.2% 8.2% 8.2%  
04    
               
May 08:30 Hourly Earnings Apr   0.1% 0.2% 0.2%  
04    
               
May 08:30 Average Workweek Apr   34.5 34.5 34.5  
04    
               

MARKET PLACE

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

R2 is Weekly Strong Resistance

Levels are for the most active futures contract

Daily Support and Resistance

 
Trend
WS2
WS1
DS
DR
WR1
WR2
             
               
June
U
1336
1367
1390.50
1411
1416
1434
           
ES
             
June
PRD(D)
2581
2659
2701.50
27444
2780
2823
           
Nasdaq
             
June
U
121.5
123.02
123.92
125.36
125.30
126.15
9
         
             
Yen
             
June
PRD(D)
130.4
131.55
131.62
132.77
133.21
133.80
8
         
EC
           
             
June
U
130.1
131.12
131.19
132.00
132.23
133.09
           
10
 
9
         
             
Year
             
June
U
139.3
141.11
141.09
142.27
143.26
144.30
1
         
30
           
             
Year
             
July
U
14.04
14.50
14.87
15.08
15.25
15.55
           
Soybea
             
ns
             
July
U
5.93
6.23
6.204
6.33
6.69
6.85
           
Corn
             
June
U
1606.
1634.6
1649.2
1670.6
1679.4
1696.3
7
         
Gold
           
             
July
D
29.25
30.27
30.45
31.26
32.02
32.75
           
Silver
             
July
U
353
368
379
386
391
398
           
Copper
             
June
U
100.6
102.75
104.89
106.93
105.93
107.05
           
Crude
 
9
         
             
               


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