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Oil may pull an intermediate trend reversal today.

Market News

05.17.03

Top Day Market News


University of Michigan consumer confidence at 9:55 and then the release of Leading Economic Indicators at 10 round out the week. The week has had a consistent theme: a stronger dollar and a move out of metals. Dollar strength is coming from the perception that the Fed will taper its asset sales as early as this summer. The only market bucking the dollar strength is oil which may pull of an intermediate trend reversal today.


 

Week of May 13 - May 17

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

May 13

 

08:30

 

Retail Sales

 

Apr

 

 

-0.7%

 

-0.3%

 

-0.4%

 

 

May 13

 

08:30

 

Retail Sales ex-auto

 

Apr

 

 

-0.5%

 

-0.2%

 

-0.4%

 

 

May 13

 

10:00

 

Business Inventories

 

Mar

 

 

0.4%

 

0.3%

 

0.1%

 

 

May 14

 

08:30

 

Export Prices ex-ag.

 

Apr

 

 

NA

 

NA

 

-0.2%

 

 

May 14

 

08:30

 

Import Prices ex-oil

 

Apr

 

 

NA

 

NA

 

-0.2%

 

 

May 15

 

07:00

 

MBA Mortgage Index

 

05/11

 

 

NA

 

NA

 

7.0%

 

 

May 15

 

08:30

 

PPI

 

Apr

 

 

-0.5%

 

-0.5%

 

-0.6%

 

 

May 15

 

08:30

 

Core PPI

 

Apr

 

 

0.2%

 

0.1%

 

0.2%

 

 

May 15

 

08:30

 

Empire Manufacturing

 

May

 

 

1.0

 

3.5

 

3.1

 

 

May 15

 

09:00

 

Net Long-Term TIC Flows

 

Mar

 

 

NA

 

NA

-

$17.8B

 

 

May 15

 

09:15

 

Industrial Production

 

Apr

 

 

-0.5%

 

-0.2%

 

0.4%

 

 

 

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

May 15

 

09:15

 

Capacity Utilization

 

Apr

 

 

78.0%

 

78.3%

 

78.5%

 

 

May 15

 

10:00

 

NAHB Housing Market Index

 

May

 

 

43

 

44

 

42

 

 

May 15

 

10:30

 

Crude Inventories

 

05/11

 

 

NA

 

NA

 

0.230M

 

 

May 16

 

08:30

 

Initial Claims

 

05/11

 

 

335K

 

330K

 

323K

 

 

May 16

 

08:30

 

Continuing Claims

 

05/04

 

 

3015K

 

3005K

 

3005K

 

 

May 16

 

08:30

 

CPI

 

Apr

 

 

-0.2%

 

-0.2%

 

-0.2%

 

 

May 16

 

08:30

 

Core CPI

 

Apr

 

 

0.2%

 

0.2%

 

0.1%

 

 

May 16

 

08:30

 

Housing Starts

 

Apr

 

 

915K

 

970K

 

1036K

 

 

May 16

 

08:30

 

Building Permits

 

Apr

 

 

950K

 

950K

 

902K

 

 

May 16

 

10:00

 

Philadelphia Fed

 

May

 

 

2.0

 

2.5

 

1.3

 

 

May 16

 

10:30

 

Natural Gas Inventories

 

05/11

 

 

NA

 

NA

 

88 bcf

 

 

May 17

 

09:55

 

Mich Sentiment

 

May

 

 

79.0

 

78.5

 

76.4

 

 

May 17

 

10:00

 

Leading Indicators

 

Apr

 

 

0.3%

 

0.3%

 

-0.1%

 

 


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

1598

1613

1643

1655

1638.50

1647

Jun Nasdaq


U

2921

2949

2988

3012

2991

3005

Jun JY


D

95.94

97.22

97.51

98.34

100.82

102.74

Jun EC


D

127.80

128.83

128.12

129.44

131.43

133.00

Jun 10 Year


PRD( U)

131.06

131.27

131.30

132.24

132.24

133.13

Jun 30 Year


PRD( U)

142.25

144.14

144.12

146.01

146.29

148.15

July Soybeans


U

13.41

13.70

14.13

14.45

14.23

14.48

July Corn


D

6.10

6.29

6.37

6.48

6.50

6.65

June Gold


D

1388

1417.5

1354.9

1399

1477.5

1507

July Silver


D

22.12

23.16

22.22

22.93

24.43

25.06

July Copper


D

321

329

324

332

343

348

June Crude


PRD( U)

91.97

94.08

93.73

96.07

97.84

99.49

 

 

 

 

 

 

 

 

 News