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GDP for the euro zone stagnated

Market News

Top Day Market News

5.15.12

Lately, most markets aren’t trading so much as they are being marked down.

Overnight, GDP for the euro zone stagnated but was saved by the expansion of the German economy at a rate five times greater than previously forecast.

Euro finance ministers are meeting today and may give Greece more time to meet budget cuts. Greece is also expected to make a bond payment of nearly 500 million euros today. They are also attempting to cobble together a coalition government. The most vocal of the parties wants to stay in the Euro, stabilize unemployment (running at 21%) and repudiate austerity measures. There is no Greek exit strategy from the EU.

Big data inflections at 8:30 with retail sales, CPI and Empire State Manufacturing all hitting the wires simultaneously.

Week of May 14 - May 18

Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
May 08:30 Retail Sales Apr   0.2% 0.2% 0.8%  
15    
               
May 08:30 Retail Sales ex-auto Apr   0.2% 0.2% 0.8%  
15    
               
May 08:30 CPI Apr   0.0% 0.0% 0.3%  
15    
               
May 08:30 Core CPI Apr   0.2% 0.2% 0.2%  
Date ET Release For Actual Briefing.com Briefing.com Prior Revised
          Forecast Consensus   From
15                
May 08:30 Empire Manufacturing May   8.0 8.4 6.6  
15    
               
May 09:00 Net Long-Term TIC Mar   NA NA $10.1B  
15 Flows    
             
May 10:00 Business Inventories Mar   0.3% 0.3% 0.6%  
15    
               
May 10:00 NAHB Housing May   26 26 25  
15 Market Index    
             
May 07:00 MBA Mortgage Index 05/12   NA NA 1.7%  
16    
               
May 08:30 Housing Starts Apr   675K 680K 654K  
16    
               
May 08:30 Building Permits Apr   725K 730K 747K  
16    
               
May 09:15 Industrial Production Apr   0.4% 0.5% 0.0%  
16    
               
May 09:15 Capacity Utilization Apr   78.9% 79.0% 78.6%  
16    
               
May 10:30 Crude Inventories 05/12   NA NA 3.652M  
16    
               
May 14:00 FOMC Minutes 4/25          
16          
               
May 08:30 Initial Claims 05/12   365K 365K 367K  
17    
               
May 08:30 Continuing Claims 05/05   3250K 3250K 3229K  
17    
               
May 10:00 Philadelphia Fed May   10.0 8.8 8.5  
17    
               
May 10:00 Leading Indicators Apr   0.1% 0.2% 0.3%  
17    
               

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 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
             
               
June D 1322.50 1336.00 1327.50 1345 1367 1384
           
ES              
June D 2549 2579 2575 2605 2644 2679
           
Nasda              
q              
June PRD(U) 124.32 1247 124.82 125.06 125.81 126.40
           
Yen              
June D 128.04 128.64 127.75 128.93 130.26 131.28
           
EC              
June U 132.07 132.21 133.04 133.28 133.12 133.21
           
10              
Year              
June U 142.31 144.01 145.09 147.12 145.23 146.11
           
30              
Year              
July D 13.52 13.79 13.60 14.20 14.55 15.05
           
Soybea              
ns              
July D 5.35 5.58 5.77 5.92 6.17 6.54
           
Corn              
June D 1526 1553 1536.50 1579.50 1625 1670
           
Gold              
July D 27.25 28.07 27.55 28.87 30.04 31.20
           
Silver              
July D 358 361 340 365 368 371
           
Coppe              
r              
July D 95.05 95.77 92.92 96.22 97.37 98.25
           
Crude              
               
News