5.19.2014
Top Day Market News
European stocks were lower overnight and have provided an overnight drag to US equities. Crude and copper are higher while Bonds are higher on risk aversion. Money managers are at a two year high in terms of cash holdings. Traders have decided that it’s probably best to believe that Mario Draghio will lower interest rates in June and consequently, the EC is pricing this event into its valuation.
A slow news week in terms of economic releases as you can see from the slate.
|
Week of May 19 - May 23 |
|||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
May 21 |
07:00 |
MBA Mortgage Index |
05/17 |
|
NA |
NA |
3.6% |
|
|
|
May 21 |
10:30 |
Crude Inventories |
05/17 |
|
NA |
NA |
0.947M |
|
|
|
May 21 |
14:00 |
FOMC Minutes |
4/30 |
|
|
|
|
|
|
|
May 22 |
08:30 |
Initial Claims |
05/17 |
|
320K |
305K |
297K |
|
|
|
May 22 |
08:30 |
Continuing Claims |
05/12 |
|
2700K |
2700K |
2667K |
|
|
|
May 22 |
10:00 |
|
Existing Home Sales |
Apr |
|
4.62M |
4.66M |
4.59M |
|
|
|
|||||||||
|
May 22 |
10:00 |
Leading Indicators |
Apr |
|
0.3% |
0.5% |
0.8% |
|
|
|
May 22 |
10:30 |
Natural Gas Inventories |
05/17 |
|
NA |
NA |
105 bcf |
|
|
|
May 23 |
10:00 |
New Home Sales |
Apr |
|
400K |
415K |
384K |
|
|
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 ES |
U |
1838 |
1856 |
1856 |
1878 |
1896 |
1917 |
|
June Nasdaq |
D |
3498 |
3541 |
3554 |
3600 |
3625 |
3666 |
|
June Yen |
U |
97.29 |
97.91 |
98.37 |
98.53 |
98.95 |
99.37 |
|
June EC |
D |
135.74 |
136.38 |
136.78 |
137.44 |
137.65 |
138.33 |
|
June 10 Year Note |
U |
124.00 |
124.28 |
125.20 |
125.31 |
126.13 |
127.11 |
|
June 30 Year Bond |
U |
133.30 |
135.22 |
137.08 |
138.01 |
138.21 |
139.28 |
|
July Soybeans |
D |
14.38 |
14.51 |
14.58 |
14.75 |
14.97 |
15.03 |
|
July Corn |
D |
4.64 |
4.73 |
4.76 |
4.86 |
4.99 |
5.16 |
|
June Gold |
D |
1261.7 |
1277 |
1287 |
1303 |
1308.7 |
1324.7 |
|
July Silver |
PRD(D) |
18.51 |
18.93 |
19.21 |
1.644 |
19.89 |
20.42 |
|
July Copper |
U |
304 |
309.40 |
313 |
317 |
138.30 |
323.00 |
|
July Crude |
U |
98.26 |
99.58 |
101.11 |
102.24 |
102.70 |
103.70 |
|
|
|
|
|
|
|
|
|