05.10.13
Top Day Market News
No major economic releases today. The big event yesterday was the Yen plummeting through 100. This basically signifies what is going on with the Bank of Japan which is basically doubling money supply in an incredibly short period of time. US rates traded at their highest levels in five weeks as the US economy continues to gain traction. The decline in five years 10 years in 30 years as a function of lack of demand for fixed income while the market at the same time had to absorb $72 billion worth of auctions this week. This morning, the dollar is stronger across the board as the yen continues to lead the way lower. This stronger dollar environment is having a negative effect on gold which is down $35. The move in gold shouldn’t be surprising as the intermediate trend is lower as well.
Keep the powder dry. Enjoy the weekend.
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Week of May 06 - May 10 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
May 07 |
15:00 |
Consumer Credit |
Mar |
|
$16.0B |
$16.3B |
$18.1B |
|
|
|
May 08 |
07:00 |
MBA Mortgage Index |
05/04 |
|
NA |
NA |
1.8% |
|
|
|
May 08 |
10:30 |
Crude Inventories |
05/04 |
|
NA |
NA |
6.696M |
|
|
|
May 09 |
08:30 |
Initial Claims |
05/04 |
|
340K |
336K |
324K |
|
|
|
May 09 |
08:30 |
Continuing Claims |
04/27 |
|
3050K |
3019K |
3019K |
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|
|
|
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
May 09 |
10:00 |
Wholesale Inventories |
Mar |
|
0.3% |
0.3% |
-0.3% |
|
|
May 09 |
10:30 |
Natural Gas Inventories |
05/04 |
|
NA |
NA |
43 bcf |
|
|
May 10 |
14:00 |
Treasury Budget |
Apr |
|
NA |
NA |
+$59.1B |
|
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 |
1558.5 |
1583.75 |
1619 |
1631 |
1624.5 |
1639.50 |
|
Jun Nasdaq |
U |
2784 |
2860.75 |
2946 |
2974 |
2981 |
3024.50 |
|
Jun JY |
D |
99.25 |
100.12 |
97.84 |
100.82 |
102.49 |
103.99 |
|
Jun EC |
U |
129.19 |
130.16 |
129.60 |
131.29 |
132.29 |
133.45 |
|
Jun 10 Year |
D |
132.03 |
132.15 |
132.16 |
132.29 |
133.16 |
134.04 |
|
Jun 30 Year |
D |
145.01 |
146.12 |
145.24 |
147.08 |
148.28 |
150.21 |
|
July Soybeans |
U |
13.37 |
13.615 |
13.93 |
14.16 |
14.18 |
15.50 |
|
July Corn |
U |
6.08 |
6.34 |
6.34 |
6.57 |
6.78 |
6.95 |
|
June Gold |
D |
1418.3 |
1444.50 |
1442 |
1479 |
1491.9 |
1513.3 |
|
July Silver |
PRD( U) |
22.58 |
23.33 |
23.56 |
24.21 |
24.70 |
25.32 |
|
July Copper |
PRD( U) |
294 |
312 |
331 |
337 |
340 |
349 |
|
June Crude |
U |
87.99 |
91.80 |
99.57 |
96.99 |
97.73 |
99.85 |
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