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Today the market digests the FOMC meeting.

6.19.2014

Top Day Market News

Today the market digests the FOMC meeting. The Fed keeps  moving the goal posts. First it was 6% in unemployment to trigger the first hike in short term rates, then it was 2% in inflation now it’s neither. The FED is now in a wait and see approach and is giving very little in the way of future guidance instead relying on data. The market senses this and rallies. With this delay in normalization of rates to the day after forever, the dollar swoons.

Week of

 June

16 - June 20

 

 

 

 

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Jun 16

08:30

Empire Manufacturing

Jun

 

14.0

12.8

19.0

 

Jun 16

09:00

Net Long-Term TIC Flows

Apr

 

NA

NA

$4.0B

 

Jun 16

09:15

Industrial Production

May

 

0.7%

0.5%

-0.6%

 

Jun 16

09:15

Capacity Utilization

May

 

79.0%

78.9%

78.6%

 

Jun 16

10:00

NAHB Housing Market Index

Jun

 

46

46

45

 

Jun 17

08:30

Housing Starts

May

 

1035K

1028K

1072K

 

Jun 17

08:30

Building Permits

May

 

1060K

1050K

1080K

 

Jun 17

08:30

CPI

May

 

0.2%

0.2%

0.3%

 

Jun 17

08:30

Core CPI

May

 

0.1%

0.2%

0.2%

 

Jun 18

07:00

MBA Mortgage Index

06/14

 

NA

NA

+10.3%

 

Jun 18

08:30

Current Account Balance

Q1

 

-$98.5B

-$97.8B

-

$81.1B

 

Jun 18

10:30

Crude Inventories

06/14

 

NA

NA

- 2.596M

 

Jun 18

14:00

FOMC Rate Decision

Jun

 

NA

NA

0.25%

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Jun 19

08:30

Initial Claims

06/14

 

310K

313K

317K

 

Jun 19

08:30

Continuing Claims

06/14

 

2625K

2638K

2614K

 

Jun 19

10:00

Philadelphia Fed

Jun

 

13.0

13.4

15.4

 

Jun 19

10:00

Leading Indicators

May

 

0.5%

0.5%

0.4%

 

Jun 19

10:30

Natural Gas Inventories

06/14

 

NA

NA

107 bcf

 

 

Numbers below 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

Support and Resistance Grid


 

Trend

WS2

WS1

DS

DR

WR1

WR2

Sept ES

U

1901

1914

1935

1956

1944

1960

Sept Nasdaq

U

3716

3743

3767

3812

3798

3826

Sept Yen

U

96.95

97.49

92.65

98.51

98.49

98.95

Sept EC

D

134.14

134.74

135.36

136.14

136.31

137.28

Sept 10 Year Note

D

123.12

123.27

123.25

124.28

124.22

125.02

Sept 30 Year Bond

U

133.28

134.27

135.06

136.27

136.14

137.04

July Soybeans

D

13.71

13.98

13.43

13.68

14.64

15.02

July Corn

D

4.295

4.38

4.334

4.40

4.565

4.66

Aug Gold

U

1240

1228

1266.40

1295.50

1286

1296

July Silver

U

18.70

19.18

19.65

20.04

19.93

20.20

July Copper

U

297

300

309.60

306.50

306

309