05.31.03
Top Day Recommendations
The end of another month, already. Consumer spending came in on the sell side down 0.2%. Personal income was unchanged. Treasuries rallied going into the number but sold off on the release of the number. The currency market is next with the yen higher on risk off while the EC holds technical support as does the British pound. The Aussie dollar is low on Chinese contraction. 9648 provided a good support for the Canadian dollar overnight. The market is clearly range bound as 3024 was a good ceiling for the NASDAQ yesterday and we are currently 25 handles lower. Japan is bracing for a flood that is said to be the worst in 200 years and actually worse than Sandy. Markets there are 11% off the highs. Hopefully this won’t result in another nuclear event. Enjoy the weekend.
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Week of May 27 - May 31 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
May 28 |
09:00 |
Case-Shiller 20-city Index |
Mar |
|
10.0% |
10.1% |
9.3% |
|
|
|
May 28 |
10:00 |
Consumer Confidence |
May |
|
72.5 |
72.5 |
68.1 |
|
|
|
May 29 |
07:00 |
MBA Mortgage Index |
05/25 |
|
NA |
NA |
-9.8% |
|
|
|
May 30 |
08:30 |
Initial Claims |
05/25 |
|
345K |
340K |
340K |
|
|
|
May 30 |
08:30 |
Continuing Claims |
05/18 |
|
3000K |
3000K |
2912K |
|
|
|
May 30 |
08:30 |
GDP - Second Estimate |
Q1 |
|
2.7% |
2.5% |
2.5% |
|
|
|
May 30 |
08:30 |
GDP Deflator - Second Estimate |
Q1 |
|
1.2% |
1.2% |
1.2% |
|
|
|
May 30 |
10:00 |
Pending Home Sales |
Apr |
|
0.0% |
1.5% |
1.5% |
|
|
May 30 |
10:30 |
Natural Gas Inventories |
05/25 |
|
NA |
NA |
89 bcf |
|
|
May 30 |
11:00 |
Crude Inventories |
05/25 |
|
NA |
NA |
- 0.338M |
|
|
May 31 |
08:30 |
Personal Income |
Apr |
|
-0.2% |
0.1% |
0.2% |
|
|
May 31 |
08:30 |
Personal Spending |
Apr |
|
0.1% |
0.1% |
0.2% |
|
|
May 31 |
08:30 |
PCE Prices - Core |
Apr |
|
0.1% |
0.1% |
0.0% |
|
|
May 31 |
09:45 |
Chicago PMI |
May |
|
49.5 |
49.3 |
49.0 |
|
|
May 31 |
09:55 |
Michigan Sentiment - Final |
May |
|
82.5 |
83.7 |
83.7 |
|
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
|
|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Jun ES |
D |
1605 |
1626 |
1642.75 |
1662.50 |
1679.50 |
1709.25 |
|
Jun Nasdaq |
D |
2910 |
2951 |
2967 |
3029.75 |
3043 |
3094 |
|
Jun JY |
PRD( U) |
9528 |
9714 |
98.35 |
99.67 |
10011 |
10122 |
|
Jun EC |
PRD( U) |
127.35 |
128.27 |
129.55 |
130.94 |
130.05 |
130.91 |
|
Jun 10 Year |
D |
130.01 |
130.22 |
130.06 |
130.25 |
132.06 |
133.01 |
|
Jun 30 Year |
D |
140.25 |
142.25 |
141.02 |
141.32 |
144.28 |
146.13 |
|
July Soybeans |
PRD( D) |
13.85 |
14.30 |
14.75 |
15.17 |
15.34 |
15.92 |
|
July Corn |
D |
6.15 |
6.36 |
6.466 |
6.64 |
6.73 |
6.90 |
|
June Gold |
PRD( U) |
1301.3 |
13.43 |
1394 |
1423 |
1420 |
1455 |
|
July Silver |
PRD(U) |
18.91 |
20.61 |
22.31 |
23.06 |
23.65 |
24.99 |
|
July Copper |
U |
317 |
323 |
327 |
334 |
338 |
347 |
|
July Crude |
U |
89.33 |
91.60 |
92.17 |
94.51 |
96.74 |
99.61 |
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