05.22.03
Top Day Market News
The focus today of course will be on the testimony of Chairman Bernanke. Additionally, we get the release of last month’s minutes of the Federal Open Market Committee Meeting at two o’clock. Also, preceding this, will be the release of this week’s oil inventories. The Canadian dollar is trading at close to a two-month low in front of the release of the country’s retail sales. Contributing to further evidence of the stabilization of the housing market, the market received news that orders at Toll Brothers beat estimates and are at seven year highs. The EC today may reverse its intermediate trend with a higher close. Gold volatility continues to suggest that the threat to the market remains to the downside.
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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% |
|
|
|
May 22 |
10:00 |
Existing Home Sales |
Apr |
|
5.05M |
4.98M |
4.92M |
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|
|
May 22 |
10:00 |
Bernanke Testimony |
|
|
|
|
|
|
|
|
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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|
|
|
|
|
|
May 23 |
08:30 |
Initial Claims |
05/18 |
|
350K |
348K |
360K |
|
|
|
May 23 |
08:30 |
Continuing Claims |
05/11 |
|
3015K |
3005K |
3009K |
|
|
|
May 23 |
09:00 |
FHFA Housing Price Index |
Mar |
|
NA |
NA |
0.7% |
|
|
|
May 23 |
10:00 |
New Home Sales |
Apr |
|
425K |
425K |
417K |
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|
|
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
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 |
1672.50 |
1679 |
1694 |
|
Jun Nasdaq |
U |
2937 |
2981 |
3008.75 |
3035.50 |
3049 |
3072 |
|
Jun JY |
D |
94.52 |
96.22 |
97.15 |
97.92 |
98.19 |
99.46 |
|
Jun EC |
PRD( U) |
126.53 |
127.42 |
128.52 |
129.45 |
129.76 |
130.21 |
|
Jun 10 Year |
D |
130.29 |
131.12 |
131.18 |
132.08 |
132.13 |
132.31 |
|
Jun 30 Year |
D |
142.09 |
143.04 |
143.13 |
144.21 |
145.06 |
146.13 |
|
July Soybeans |
U |
13.74 |
14.11 |
14.63 |
14.86 |
1467 |
14.86 |
|
July Corn |
D |
6.20 |
6.36 |
6.32 |
6..47 |
6.77 |
6.85 |
|
June Gold |
D |
1292 |
1325 |
1357 |
1399 |
1419 |
1481 |
|
July Silver |
D |
20.92 |
21.56 |
21.50 |
22.90 |
23.34 |
24.48 |
|
July Copper |
U |
314 |
323 |
331 |
337 |
338 |
346 |
|
July Crude |
U |
90.54 |
93.28 |
95.58 |
97.02 |
97.60 |
99.18 |
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