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%.
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Week of July 09 - July 13 |
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 09 |
15:00 |
May |
|
$10.0B |
$9.5B |
$6.5B |
|
|
|
Jul 11 |
07:00 |
MBA Mortgage Index |
07/07 |
|
NA |
NA |
-6.7% |
|
|
Jul 11 |
08:30 |
|
May |
|
-$50.6B |
-$48.9B |
- $50.1B |
|
|
Jul 11 |
10:00 |
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 |
07/07 |
|
360K |
375K |
374K |
|
|
|
Jul 12 |
08:30 |
06/30 |
|
3300K |
3300K |
3306K |
|
|
|
Jul 12 |
08:30 |
Jun |
|
NA |
NA |
-0.5% |
|
|
|
Jul 12 |
08:30 |
Jun |
|
NA |
NA |
-0.1% |
|
|
|
Jul 12 |
14:00 |
|
Jun |
|
NA |
NA |
- $43.1B |
|
|
Jul 13 |
08:30 |
Jun |
|
-0.8% |
-0.6% |
-1.0% |
|
|
|
Jul 13 |
08:30 |
Jun |
|
0.2% |
0.2% |
0.2% |
|
|
|
Jul 13 |
09:55 |
Jul |
|
72.0 |
73.5 |
73.2 |
|
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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 |
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