05.21.03
Top Day Recommendations
Last trading day for June Crude today so roll now rather than later. Again, there are no economic releases scheduled for today. Overnight the DAX backed away from highs snapping a 10 day rally. US stocks are a little changed. Most of the action is occurring in the currency markets. The British pound is at a six-week low. Yesterday was a weaker dollar today but that did not hold. Again the main feature of the week will be the testimony of the Fed chairman tomorrow and the release of the FOMC minutes. Gold had a huge reversal day yesterday but that failed to hold did a stronger dollar soaring. Part of the reason behind goals recent decline is import restrictions put in place by Indian authorities.
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Week of May 20 - May 24 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
May 22 |
07:00 |
MBA Mortgage Index |
05/18 |
|
NA |
NA |
-7.3% |
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|
|
May 22 |
10:00 |
Existing Home Sales |
Apr |
|
5.05M |
4.98M |
4.92M |
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|
|
May 22 |
10:00 |
Bernanke Testimony |
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|
|
|
|
|
|
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May 22 |
10:30 |
Crude Inventories |
05/18 |
|
NA |
NA |
- 0.624M |
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|
May 22 |
14:00 |
FOMC Minutes |
5/1 |
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|
|
|
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May 23 |
08:30 |
Initial Claims |
05/18 |
|
350K |
348K |
360K |
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|
|
May 23 |
08:30 |
Continuing Claims |
05/11 |
|
3015K |
3005K |
3009K |
|
|
|
May 23 |
09:00 |
FHFA Housing Price Index |
Mar |
|
NA |
NA |
0.7% |
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
May 23 |
10:00 |
New Home Sales |
Apr |
|
425K |
425K |
417K |
|
|
May 23 |
10:30 |
Natural Gas Inventories |
05/18 |
|
NA |
NA |
NA |
|
|
May 24 |
08:30 |
Durable Orders |
Apr |
|
-1.5% |
1.6% |
-6.9% |
-5.8% |
|
May 24 |
08:30 |
Durable Goods –ex transportation |
Apr |
|
-0.5% |
0.5% |
-2.9% |
-1.5% |
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
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|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Jun ES |
U |
1606 |
1635 |
1659.25 |
1670.25 |
1679 |
1694 |
|
Jun Nasdaq |
U |
2937 |
2981 |
3010 |
3032 |
3049 |
3072 |
|
Jun JY |
D |
94.52 |
96.22 |
96.89 |
98.08 |
98.19 |
99.46 |
|
Jun EC |
D |
126.53 |
127.42 |
128.46 |
129.27 |
129.76 |
130.21 |
|
Jun 10 Year |
D |
130.29 |
131.12 |
131.12 |
132.02 |
132.13 |
132.31 |
|
Jun 30 Year |
D |
142.09 |
143.04 |
142.31 |
144.11 |
145.06 |
146.13 |
|
July Soybeans |
U |
13.74 |
14.11 |
14.49 |
14.72 |
1467 |
14.86 |
|
July Corn |
D |
6.20 |
6.36 |
6.33 |
6.59 |
6.77 |
6.85 |
|
June Gold |
D |
1292 |
1325 |
1347.60 |
1409.20 |
1419 |
1481 |
|
July Silver |
D |
20.92 |
21.56 |
20.80 |
23.79 |
23.34 |
24.48 |
|
July Copper |
U |
314 |
323 |
329 |
339 |
338 |
346 |
|
July Crude |
U |
90.54 |
93.28 |
95.81 |
98.46 |
97.60 |
99.18 |
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