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Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


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9247 Broadway
Suite EE
Merrillville, IN 46410

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The markets have turned a fearful eye towards Italy and their enormous debt

Top Day Recommendations

7.11.011

Despite Friday’s stock market rebound after the abysmal unemployment number (only 18K in new jobs were added while the previous month was downwardly revised), the market finds itself back in the same Euro Zone soup. Maybe more specifically Minestrone soup or even Italian Wedding soup as the markets have turned a fearful eye towards Italy and their monstrous debt market. Even the august Warren Buffet has weighed in by saying, parenthetically, that Greece is headed for a destabilizing default while at the same time laying the blame on the doorstep of Angela Merkel. The possibility of contagion is being reflected in our equity values this morning as well as the EC trading below daily support and the EC/Swiss cross rate screaming. In other flight from fear moves, both gold and bonds are higher while crude is reflecting the soft employment picture. The more things change, the more they…

No eco releases scheduled for today.

Week of July 11 - July 15

Date ET Release For Actual Briefing.com Forecast Briefing.com Consensus Prior Revised From
Jul 12 08:30 Trade Balance May -$44.0B -$44.0B -$43.7B
Jul 13 07:00 MBA Mortgage Index 07/09 NA NA -5.2%
Jul 13 08:30 Export Prices ex-ag. Jun NA NA 0.5%
Jul 13 08:30 Import Prices ex-oil Jun NA NA 0.4%
Jul 13 10:30 Crude Inventories 07/09 NA NA -0.889M
Jul 13 14:00 Treasury Budget Jun -$45.0B -$45.0B -$68.4B
Jul 13 14:00 FOMC Minutes Jun 22
Jul 14 08:30 Initial Claims 07/09 425K 418K 418K
Jul 14 08:30 Continuing Claims 07/02 3700K 3700K 3681K
Jul 14 08:30 Retail Sales Jun -0.3% -0.2% -0.2%
Jul 14 08:30 Retail Sales ex-auto Jun -0.1% 0.0% 0.3%
Date ET Release For Actual Briefing.com Forecast Briefing.com Consensus Prior Revised From
Jul 14 08:30 PPI Jun -0.2% -0.2% 0.2%
Jul 14 08:30 Core PPI Jun 0.2% 0.2% 0.2%
Jul 14 10:00 Business Inventories May 0.9% 0.9% 0.8%
Jul 15 08:30 CPI Jun -0.1% -0.1% 0.2%
Jul 15 08:30 Core CPI Jun 0.2% 0.2% 0.3%
Jul 15 08:30 Empire Manufacturing Jul 0.0 1.0 -7.8
Jul 15 09:15 Industrial Production Jun 0.3% 0.2% 0.1%
Jul 15 09:15 Capacity Utilization Jun 77.0% 76.8% 76.7%
Jul 15 09:55 Mich Sentiment Jul 70.0 71.4 71.5

Read more: http://www.briefing.com/investor/calendars/economic/2011/07/11-15/#ixzz1RnVyAEfK

- Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.

Legend

P is Positive

N is Negative

PRD is Potential Reversal Day

S2 is strong support

S1 is good support

DS is Daily Support

DR is Daily Resistance

R1 is Good Resistance

R2 is Strong Resistance

Levels are for the most active futures contract

Daily Support and Resistance

Some of these numbers are badly skewed due to Monday’s holiday when some markets were closed, others open

Trend S2 S1 DS DR R1 R2

Sept Emini S+P P 1313 1324 1316.5 1354.40 1355 1368
Emini Naz P 2323 2366 2356 2428 2436 2464
Yen N 121.74 122.91 122.91 124.77 124.18 125.45
EC P 139.41 140.37 140.79 143.10 144.48 146.83
Sep 10 Year N 121.08 122.15 122.20 125 124.13 125.05
Sep 30 Year N 121.28 123.13 123.20 126.11 125.22 126.18
Sept Soybeans P 12.88 13.16 13.25 13.51 13.60 13.76
Sept Corn PRD (u) 6.02 6.22 6.17 6.50 6.54 6.66
August Gold P 1465.80 1505.2 1529 1558 1565 1585
Sept Silver P 32.69 34.68 36.07 36.95 37.78 39.98
Sept Copper P 421 431 433 445 448 455
Aug P 91.66 94.68 93.41 98.38 99.15 101.82
Crude

N.B.: if you initiate a trade using ANY of these

numbers use a STOP at least equivalent to 2 ½%.

Repeat: use Stops. Don’t think about using Stops.

Use Stops. Some find it appropriate to look at the

margin requirement and use that as a Stop or if

it’s a steep initial requirement, use half. But

whatever you do, stop thinking about any other

alternative and use Stops.

********************************************

Futures trading entails considerable risk and is not for

everyone. An account can lose more than its initial investment.

Stops are not necessarily filled at the stop level. Past

performance is not a guarantee of future results.

 

Charles Kespert

***********************

HYPOTHETICAL PERFORMANCE RESULTS HAVE

MANY INHERENT LIMITATIONS, SOME OF WHICH

ARE DESCRIBED BELOW. NO REPRESENTATION IS

BEING MADE THAT ANY ACCOUNT WILL OR IS

LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR

TO THOSE SHOWN. IN FACT, THERE ARE

FREQUENTLY SHARP DIFFERENCES BETWEEN

HYPOTHETICAL PERFORMANCE RESULTS AND THE

ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY

ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL

PERFORMANCE RESULTS IS THAT THEY ARE

GENERALLY PREPARED WITH THE BENEFIT OF

HINDSIGHT. IN ADDITION, AL TRADING DOES NOT

INVOLVE FINANCIAL RISK, AND NO

HYPOTHETIOTHETICAL TRADING RECORD CAN

COMPLETELY ACCOUNT FOR THE IMPACT OF

FINANCIAL RISK IN ACTUAL TRADING. FOR

EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR

TO ADHERE TO A PARTICULAR TRADING PROGRAM

IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS

WHICH CAN ALSO ADVERSELY AFFECT ACTUAL

TRADING RESULTS. THERE ARE NUMEROUS OTHER

FACTORS RELATED TO THE MARKETS IN GENERAL

OR TO THE IMPLEMENTATION OF ANY SPECIFIC

TRADING PROGRAM WHICH CANNOT BE FULLY

ACCOUNTED FOR IN THE PREPARATION OF

HYPOTHETICAL PERFORMANCE RESULTS AND ALL

OF WHICH CAN ADVERSELY AFFECT ACTUAL

TRADING RESULTS.