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 | |||||
