Top Day Market News
5.19.11
Last data points of the week. Stocks were higher overnight and got a bit of a boost with weekly jobless claims down 29K. UK retail sales better but the trend on that currency is negative. The tsunami has officially thrown Japan into recession. The FOMC notes released yesterday suggested that the FED is looking to withdraw stimulus, just not in a hurry to literally raise rates. The end of QE2 is a defacto tightening, however as the buyer of first and last resort withdraws making the paper more expensive to draw buyers. Strangely we have a divergence today: there’s a seller in gold but not in silver. Bonds are finally coming off from their multi day rally.
June crude is coming off the board. Move to July asap.
They are good till close of business today. These are strictly technical in nature, not fundamentally based or biased.
Legend
P is Positive
N is Negative
PRD is Potential Reversal Day
S2 is strong support S1 is good support DS is Daily Support
DR is Daily Resistance R1 is Good Resistance R2 is Strong Resistance
Levels are for the most active futures contract
Daily Support and Resistance
Trend S2 S1 DS DR R1 R2
|
Emini S+P |
P |
1311 |
1322.5 0 |
1328.50 |
1350.0 |
1352` |
1369 |
|
Emini Naz |
PRD |
2338.50 |
2363.5 0 |
2341.50 |
2373 |
2400.50 |
2431 |
|
Yen |
PRD |
121.97` |
122.84 |
121.62 |
123.31 |
124.68 |
125.65 |
|
EC |
N |
138.21 |
139.60 |
141.75 |
142.68 |
143.46 |
145.69 |
|
10 Year |
P |
121.05 |
121.26 |
121.29 |
123.02 |
123.02 |
123.20 |
|
30 Year |
P |
122.21 |
123.17 |
123.22 |
125.01 |
125.07 |
126.01 |
|
Soybea ns |
P |
12.88 |
13.08 |
13.51 |
13.97 |
13.55 |
13.804 |
|
Corn |
P |
6.234 |
6.526 |
7.306 |
7.69 |
7.174 |
7.53 |
|
June Gold |
N |
1450.3 |
1472.2 |
1487.0 |
1502.0 |
1521.4 |
1548.7 |
|
July Silver |
P |
28.53 |
31.94 |
34.11 |
35.81 |
39.10 |
42.87 |
|
July Copper |
PRD |
375 |
387.7 |
404.40 |
411.50 |
410.80 |
421.10 |
|
July Crude |
N |
90.83 |
94.86 |
98.54. |
101.99 |
104.20 |
109.08 |
