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Phone: 312.920.0212
Fax: 855.994.4111


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Merrillville, IN 46410

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Friday the 13th

Market News

Top Day Market News

7.13.12

Every time I turn around, it seems like it’s Friday the 13th. Of course this day is famous not only for the legion of those who believe that the number 13 is unlucky (triskaidekaphobiacs) but also for the end of the Knights Templar, the Western Union of the Middle Ages. The fate of the Knights Templar answers that age old question, what do you do with the revolutionaries after the revolution.

Overnight Asian stocks were higher as Chinese Gross Domestic Product came in at 7.6%, less than expected. Why higher? The belief is that with their economy slowing more than anticipated, they will supply more liquidity by easing (free money lifts all markets, just ask gold). Of course, no one believes in the veracity of Chinese numbers, even the usage numbers for electricity. The current wisdom postulates that the Chinese numbers are totally politicized to maintain the illusion of strength and the job security of regional managers. So, the fact that they report shortfalls means that there are really, really shortfalls which was the conclusion after they lowered rates two times in one month. At the same time, Singapore GDP unexpectedly contracted as Europe imports dried up. Singapore GDP fell 1.1%. The Street was looking for a gain 0.6%. This is significant as Singapore is one of the world’s most robust economies. Unemployment there is 2.1%.

 

Week of July 09 - July 13

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

Jul 09

15:00

Consumer Credit

May

 

$10.0B

$9.5B

$6.5B

 

Jul 11

07:00

MBA Mortgage Index

07/07

 

NA

NA

-6.7%

 

 

Jul 11

 

08:30

 

Trade Balance

 

May

 

 

-$50.6B

 

-$48.9B

-

$50.1B

 

 

Jul 11

 

10:00

Wholesale

Inventories

 

May

 

 

0.2%

 

0.3%

 

0.6%

 

 

Jul 11

 

10:30

 

Crude Inventories

 

07/07

 

 

NA

 

NA

-

4.270M

 

Jul 11

14:00

FOMC Minutes

6/20

 

 

 

 

 

Jul 12

08:30

Initial Claims

07/07

 

360K

375K

374K

 

Jul 12

08:30

Continuing Claims

06/30

 

3300K

3300K

3306K

 

Jul 12

08:30

Export Prices ex-ag.

Jun

 

NA

NA

-0.5%

 

Jul 12

08:30

Import Prices ex-oil

Jun

 

NA

NA

-0.1%

 

 

Jul 12

 

14:00

 

Treasury Budget

 

Jun

 

 

NA

 

NA

-

$43.1B

 

Jul 13

08:30

PPI

Jun

 

-0.8%

-0.6%

-1.0%

 

Jul 13

08:30

Core PPI

Jun

 

0.2%

0.2%

0.2%

 

Jul 13

09:55

Mich Sentiment

Jul

 

72.0

73.5

73.2

 

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

Sept ES

U

1323.50

1337.50

1319.50

1349.25

1370.5

0

1389.00

Sept Nasdaq


D

2553.00

2561

2513

2594

2646

2683

Sept Yen


U

124.28

124.97

125.41

127.18

126.29

126.92

Sept EC


D

120.01

121.42

121.30

122.51

125.53

128.23

Sept 10 Year


U

132.28

133.20

134.14

134.31

134.24

135.04

Sept 30 Year


U

147.00

148.14

150.31

152.11

150.22

151.16

Nov Soybeans


D

14.45

15.06

15.12

15.59

16.06

16.46

 

 

 

 

 

 

 

 

Sept Corn


U

6.10

6.52

7.11

7.58

7.25

7.56

Aug Gold

D

1545.70

1564.30

1554

1589

1613.6

0

1644.30

Sept Silver


PRD(U)

25.92

26.48

26.60

27.90

25.02

29.00

Sept Copper


D

330

336

338

346

351

360

Aug Crude


U

78.18

81.15

84.73

87.71

88.03

91.94

 

 

 

 

 

 

 

 

 News