06.05.13
Top Day Recommendations
ADP private jobs forecast comes in at a disappointing 135K. Overnight, stocks were lower on the idea that the economy is doing better and tapering will occur sooner than later. Today’s number as a stand-alone data point doesn’t support that idea. The dollar is weaker on this release with the exception of the Australian dollar. Today we also get the release of factory orders at 10 o’clock, the Institute for Supply Management services index also 10 o’clock, crude inventories at 1030 and then the release of the Fed’s beige book at two o’clock. This batch of numbers will give the market plenty of inflection points to pivot and turn. In other words, this will not be a wire to wire affair in terms of market directionality. Keep these times in mind.
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Week of June 03 - June 07 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Jun 03 |
10:00 |
ISM Index |
May |
|
49.5 |
50.9 |
50.7 |
|
|
|
Jun 03 |
10:00 |
Construction Spending |
Apr |
|
0.5% |
1.1% |
-1.7% |
|
|
|
Jun 03 |
14:00 |
Auto Sales |
May |
|
NA |
NA |
5.1M |
|
|
|
Jun 03 |
14:00 |
Truck Sales |
May |
|
NA |
NA |
6.8M |
|
|
|
Jun 04 |
08:30 |
Trade Balance |
Apr |
|
-$41.0B |
-$41.1B |
- $38.8B |
|
|
|
Jun 05 |
07:00 |
MBA Mortgage Index |
06/01 |
|
NA |
NA |
-8.8% |
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jun 05 |
08:15 |
ADP Employment Change |
May |
|
140K |
157K |
119K |
|
|
Jun 05 |
08:30 |
Productivity-Rev. |
Q1 |
|
0.9% |
0.6% |
0.7% |
|
|
Jun 05 |
08:30 |
Unit Labor Costs |
Q1 |
|
0.3% |
0.6% |
0.5% |
|
|
Jun 05 |
10:00 |
Factory Orders |
Apr |
|
1.5% |
1.5% |
-4.9% |
-4.0% |
|
Jun 05 |
10:00 |
ISM Services |
May |
|
52.5 |
53.5 |
53.1 |
|
|
Jun 05 |
10:30 |
Crude Inventories |
06/01 |
|
NA |
NA |
3.0M |
|
|
Jun 05 |
14:00 |
Fed's Beige Book |
Jun |
|
|
|
|
|
|
Jun 06 |
07:30 |
Challenger Job Cuts |
May |
|
NA |
NA |
-6.0% |
|
|
Jun 06 |
08:30 |
Initial Claims |
06/01 |
|
NA |
347K |
NA |
|
|
Jun 06 |
08:30 |
Continuing Claims |
05/25 |
|
NA |
2960K |
NA |
|
|
Jun 06 |
10:30 |
Natural Gas Inventories |
06/01 |
|
NA |
NA |
88 bcf |
|
|
Jun 07 |
08:30 |
Nonfarm Payrolls |
May |
|
170K |
164K |
165K |
|
|
Jun 07 |
08:30 |
Nonfarm Private Payrolls |
May |
|
185K |
174K |
176K |
|
|
Jun 07 |
08:30 |
Unemployment Rate |
May |
|
7.5% |
7.5% |
7.5% |
|
|
Jun 07 |
08:30 |
Hourly Earnings |
May |
|
0.2% |
0.2% |
0.2% |
|
|
Jun 07 |
08:30 |
Average Workweek |
May |
|
34.5 |
34.5 |
34.4 |
|
|
Jun 07 |
15:00 |
Consumer Credit |
Apr |
|
$10.0B |
$13.5B |
$8.0B |
|
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 |
1596 |
1611.50 |
1620 |
1644 |
1658 |
1688 |
|
Jun Nasdaq |
D |
2936 |
2996 |
2955 |
3000 |
3016 |
3056 |
|
Jun JY |
U |
96.64 |
97.99 |
99.47 |
101.16 |
100.23 |
101.12 |
|
Jun EC |
PRD( U) |
127.37 |
128.60 |
130.49 |
131.36 |
130.84 |
131.85 |
|
Sept 10 Year |
D |
127.05 |
128.06 |
128.28 |
129.17 |
130.26 |
1332.13 |
|
Sept 30 Year |
D |
136.17 |
138.09 |
139.07 |
140.20 |
142.19 |
145.05 |
|
July Soybeans |
U |
14.47 |
14.78 |
15.11 |
15.35 |
15.34 |
15.59 |
|
July Corn |
D |
6.40 |
6.51 |
6.50 |
6.67 |
6.71 |
6.80 |
|
Aug Gold |
D |
1344 |
1365 |
1385 |
1411 |
1414.7 |
1442.4 |
|
July Silver |
D |
2149 |
21.64 |
22.17 |
22.08 |
22.60 |
23.41 |
|
July Copper |
U |
320 |
323 |
333 |
339 |
332 |
338 |
|
July Crude |
U |
88.67 |
90.14 |
92.32 |
94.35 |
94.50 |
97.39 |
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