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Crude is currently enduring its longest losing streak since 2010

Market News

Top Day Market News

5.09

Finally some hard data points arrive today. We get wholesale inventories at 10 and oil inventories at 10:30. Crude is currently enduring its longest losing streak since 2010. The market continues to be caught between Greece and its inability to form a coalition government and Germany which is not willing to renegotiate previous austerity promises. Emerging markets are down 5 days in a row. EC flirting with outside daily support at 129.44. If Greece cannot form a coalition government, an interim government will be appointed and new elections will be called.

Week of May 07 - May 11

Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
         
Forecast
Consensus
 
From
May
15:00
Consumer Credit
Mar
 
$10.0B
$11.0B
$8.7B
 
07
   
               
May
07:00
MBA Mortgage Index
05/05
 
NA
NA
0.9%
 
09
   
               
May
10:00
Wholesale
Mar
 
0.6%
0.6%
0.9%
 
09
Inventories
   
             
May
10:30
Crude Inventories
05/05
 
NA
NA
2.840M
 
09
   
               
May
08:30
Initial Claims
05/05
 
365K
365K
365K
 
10
   
               
May
08:30
Continuing Claims
04/28
 
3300K
3288K
3276K
 
10
   
               
May
08:30
Trade Balance
Mar
 
-$49.5B
-$49.9B
-
 
10
 
$46.0B
 
             
May
08:30
Export Prices ex-ag.
Apr
 
NA
NA
0.5%
 
10
   
               
May
08:30
Import Prices ex-oil
Apr
 
NA
NA
0.5%
 
10
   
               
Date
ET
Release
For
Actual
Briefing.com Briefing.com
Prior
Revised
         
Forecast
Consensus
 
From
May
14:00
Treasury Budget
Apr
 
NA
NA
-
 
10
 
$40.4B
 
             
May
08:30
PPI
Apr
 
0.1%
0.0%
0.0%
 
11
   
               
May
08:30
Core PPI
Apr
 
0.2%
0.2%
0.3%
 
11
   
               
May
09:55
Mich Sentiment
May
 
75.0
76.2
76.4
 
11
   
               

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
D
1328.50
1347.00
1345.50
 
1369.75
1395.0
1428.50
         
0
 
ES
             
               
June
U
2540.50
2597.50
2590.00
 
2648.00
2710.0
2795.00
             
Nasda
               
q
               
June
D
123.46
124.35
125.00
 
125.59
125.87
126.50
             
Yen
               
June
D
129.47
130.18
129.44
 
130.70
132.23
133.57
             
EC
               
June
U
131.17
132.03
132.20
 
133.13
132.03
133.07
             
10
               
Year
               
June
U
141.09
142.16
143.26
 
145.00
144.11
144.31
             
30
               
Year
               
July
D
14.28
14.53
14.10
 
14.61
15.07
15.37
             
Soybea
               
ns
               
July
U
5.88
6.04
6.17
 
6.304
6.35
6.50
             
Corn
               
June
D
1601.9
1622.5
1569.10
 
1630.8
1668.0
1692.9
             
Gold
           
0
 
               
July
D
28.85
29.58
28.58
 
30.01
31.25
32.18
             
Silver
               
July
D
360
366
359
 
374
382
392
             
Coppe
             
r
             
July
D
92.36
95.70
96.02
98.60
104.50
110.10
           
Crude
             
               
News