Top Day Market News
5.11.12
The equity market lost its traction last night after the close when a derivatives bank trader a.k.a. the London whale apparently beached himself with a $2 billion trading loss. Hedge trades can become essentially speculative when they are overweighted or over concentrated in one micro-niche of the market. This news came at a bad time for prop desks and gave more coverage to reformers running under the flag of the Volker rule. This event hasn’t essentially changed the short term trends as much as it has reinforced them.
Otherwise, the producer price index and its core rate came in about is expected and we just have the University of Michigan consumer sentiment index to swallow at 9:55.
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 |
|
Date
|
ET
|
Release
|
For
|
Actual
|
Briefing.com Briefing.com
|
Prior
|
Revised
|
|
|
|
|
|
|
|
Forecast
|
Consensus
|
|
From
|
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 |
|
|
||||||
|
|
|
|
|
|
|
|
|
|
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 |
1337.50
|
|
1365.50 |
1395.0 |
1428.50 |
|
|
|
|
|
|
|
|
||
ES
|
|
|
|
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
June
|
D
|
2540.50
|
2597.50 |
2584
|
|
2636.50 |
2710.0 |
2795.00 |
|
|
|
|
|
|
|
|
||
Nasda
|
|
|
|
|
|
|
|
|
q
|
|
|
|
|
|
|
|
|
June
|
D
|
123.46
|
124.35 |
124.90 |
|
125.55 |
125.87 |
126.50 |
|
|
|
|
|
|
|
|
||
Yen
|
|
|
|
|
|
|
|
|
June
|
D
|
129.47
|
130.18 |
128.97 |
|
129.81 |
132.23 |
133.57 |
|
|
|
|
|
|
|
|
||
EC
|
|
|
|
|
|
|
|
|
June
|
U
|
131.17
|
132.03 |
132.25
|
|
133.08 |
132.03 |
133.07 |
|
|
|
|
|
|
|
|
||
10
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
|
|
|
|
|
June
|
U
|
141.09 |
142.16 |
143.21 |
|
145.16 |
144.11 |
144.31 |
|
|
|
|
|
|
|
|
||
30
|
|
|
|
|
|
|
|
|
Year
|
|
|
|
|
|
|
|
|
July
|
D
|
14.28
|
14.53 |
14.18 |
|
14.66 |
15.07 |
15.37 |
|
|
|
|
|
|
|
|
||
Soybea
|
|
|
|
|
|
|
|
|
ns
|
|
|
|
|
|
|
|
|
July
|
PRD(D)
|
5.88 |
6.04 |
5.68 |
|
6.045 |
6.35 |
6.50 |
Corn
|
|
|
|
|
|
|
|
|
June
|
D
|
1601.9 |
1622.5 |
1577 |
1603.4 |
1668.0 |
1692.9 |
|
|
|
|
|
|
|
||
Gold
|
|
|
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
July
|
D
|
28.85 |
29.58 |
28.67 |
29.44 |
31.25 |
32.18 |
|
|
|
|
|
|
|
||
Silver
|
|
|
|
|
|
|
|
July
|
D
|
360 |
366 |
361
|
372 |
382 |
392 |
|
|
|
|
|
|
|
||
Coppe
|
|
|
|
|
|
|
|
r
|
|
|
|
|
|
|
|
July
|
D
|
92.36 |
95.70 |
95.67
|
98.16 |
104.50 |
110.10 |
|
|
|
|
|
|
|
||
Crude
|
|
|
|
|
|
|
|
|
|
|
|
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|
