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New elections in Greece are scheduled for June 17th

Market News

Top Day Market News

5.23.12

 

The economic release week continues to be quiet with just the release of new home sales at 10 and the regularly scheduled oil inventories at 10:30.

Maybe the ever growing number of story lines emanating from the Facebook IPO can distract the market away from the Greek saga. Then again, maybe not. The EC traded to its weakest level since August 2010 on the idea that the upcoming Euro summit will not provide new measures to reverse the sovereign debt crisis. New elections in Greece are scheduled for June 17th. 80% of Greeks want to stay in the ECU and are afraid of the tremendous dislocations that would last for at least 18 to 24 months if they returned to the Drachma. Even if Greece leaves the EU it won’t be overnight.

 

 

Week of May 21 - May 25

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

May

22

 

10:00

 

Existing Home Sales

 

Apr

 

 

4.80M

 

4.65M

 

4.48M

 

May

23

 

07:00

 

MBA Mortgage Index

 

05/19

 

 

NA

 

NA

 

9.2%

 

May

23

 

10:00

 

New Home Sales

 

Apr

 

 

340K

 

340K

 

328K

 

May

23

 

10:00

FHFA Housing Price

Index

 

Mar

 

 

NA

 

NA

 

0.3%

 

May

23

 

10:30

 

Crude Inventories

 

05/19

 

 

NA

 

NA

 

2.128M

 

May

24

 

08:30

 

Initial Claims

 

05/19

 

 

365K

 

365K

 

370K

 

 

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

May

24

 

08:30

 

Continuing Claims

 

05/12

 

 

3250K

 

3250K

 

3265K

 

May

24

 

08:30

 

Durable Orders

 

Apr

 

 

-1.5%

 

0.3%

 

-3.9%

 

-4.0%

May

24

 

08:30

Durable Orders -ex

Transportation

 

Apr

 

 

0.0%

 

1.0%

 

-1.3%

 

-0.8%

May

25

 

09:55

Michigan Sentiment -   Final

 

May

 

 

77.0

 

77.5

 

77.8

 

 

 

 

MARKET PLACE

 

  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

D

1249.25

1270.00

1297.25

1325.00

1331.2

5

1371.75

June

Nasda   q

D

2369.25

2418.75

2500.50

2557.00

2567.0

0

2665.75

June

Yen

D

123.29

124.89

124.33

126.66

127.36

128.23

June

EC

D

125.00

126.19

125.72

128.06

128.82

130.26

June

10

Year

U

132.23

133.08

133.03

133.25

134.03

134.12

June

30

Year

D

143.25

146.02

146.12

148.06

149.21

150.31

July

Soybea   ns

D

13.36

13.70

13.48

14.08

14.444

14.84

July

Corn

PRD(D)

5.54

5.95

5.69

6.22

6.57

6.79

June

Gold

D

1501.2

1546.5

1544

1593.60

1617.3

1642.8

July

Silver

D

25.86

27.26

27.44

28.66

29.53

30.40

July Copper

U

327

336

340

352

360

376


 

 

 

 

 

 

 

July

Crude

D

88.07

89.86

90.01

93.03

94.83

98.01

 

 

 

 

 

 

 

 

 News