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French and Greece elections on Sunday

Market News

Top Day Market News

5.04

Unemployment is supposed to come in at 167K with the headline number remaining at 8.2%. The whisper number is for the number to be lower than 167K (144?) with unemployment also dropping as measured as a percent.

Yesterday, the build in crude stocks became a recognized quanta and crude was sold off sharply. It’s $2.00 lower overnight. For the debt markets, it was a two way street with the bonds falling on weekly unemployment claims, then retreating back to unchanged on the non-manufacturing ISM number. Gold should revisit the 1625 previous low to test its soundness. The nob spread (Notes vs bonds) has resistance at 11 and support at 8 handles over.

French and Greece elections on Sunday. Greece may be left without a ruling parliamentary majority.

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  
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
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%  
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 PRD(D) 1336 1367 1372.5 1397. 1416 1434
           
ES       0 00    
             
June U 2581 2659 2661 2772 2780 2823
           
Nasda              
q              
June D 121.5 123.02 124.22 125.2 125.30 126.15
9     5    
Yen          
             
June D 130.4 131.55 131.05 132.3 133.21 133.80
8     0    
EC          
             
June U 130.1 131.12 131.31 132.1 132.23 133.09
           
10   9     6    
             
Year              
June U 139.3 141.11 142.13 143.1 143.26 144.30
1     4    
30          
             
Year              
July D 14.04 14.50 14.52 14.86 15.25 15.55
           
Soybea              
ns              
July U 5.93 6.23 6.09 6.22 6.69 6.85
           
Corn              
June D 1606. 1634.6 1617 1648 1679.4 1696.3
7          
Gold            
             
July D 29.25 30.27 29.33 30.51 32.02 32.75
           
Silver              
July PRD(D) 353 368 371 377 391 398
           
Coppe              
r              
June PRD(D) 100.6 102.75 100.38 104.5 105.93 107.05
           
Crude   9     2    
             
               
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