Top Day Market News
7.20.12
It’s Friday and a day to take risk off the table. The recent stock rally has been the longest weekly rally in six years. The market has been resilient and a reason for this has been earnings season. Profit expectations going into this period were fairly low and investment sentiment was weak. This sets up many “beats” and subsequent short covering.
Dollar strength against the Euro is a key to today as is the expiration of August crude. Remember August goes off at 2:30 this afternoon, not 5:15 electronically.
Nasdaq should encounter some headwinds here with a double top test of a 61% retracement of the April high to June low.
|
Week of July 16 - July 20 |
||||||||
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 16 |
08:30 |
Jun |
|
0.4% |
0.2% |
-0.2% |
|
|
|
Jul 16 |
08:30 |
Jun |
|
0.2% |
0.1% |
-0.4% |
|
|
|
Jul 16 |
08:30 |
Empire Manufacturing |
Jul |
|
0.0 |
3.8 |
2.3 |
|
|
Jul 16 |
10:00 |
May |
|
0.2% |
0.2% |
0.4% |
|
|
|
Jul 17 |
08:30 |
Jun |
|
0.1% |
0.1% |
-0.3% |
|
|
|
Jul 17 |
08:30 |
Jun |
|
0.2% |
0.2% |
0.2% |
|
|
|
Jul 17 |
09:00 |
Net Long-Term TIC Flows |
May |
|
NA |
NA |
$25.6B |
|
|
Jul 17 |
09:15 |
Jun |
|
0.0% |
0.3% |
-0.1% |
|
|
|
Jul 17 |
09:15 |
Jun |
|
79.0% |
79.2% |
79.0% |
|
|
|
Jul 17 |
10:00 |
NAHB Housing Market Index |
Jul |
|
30 |
30 |
29 |
|
|
Jul 18 |
07:00 |
MBA Mortgage Index |
07/14 |
|
NA |
NA |
-2.1% |
|
|
Jul 18 |
08:30 |
Jun |
|
715K |
743K |
708K |
|
|
|
Jul 18 |
08:30 |
Jun |
|
765K |
765K |
780K |
|
|
|
Jul 18 |
10:30 |
Crude Inventories |
07/14 |
|
NA |
NA |
- 4.696M |
|
|
Jul 18 |
14:00 |
Fed's Beige Book |
Jun |
|
|
|
|
|
|
Jul 19 |
08:30 |
07/14 |
|
360K |
365K |
350K |
|
|
|
Jul 19 |
08:30 |
07/07 |
|
3300K |
3300K |
3304K |
|
|
|
Jul 19 |
10:00 |
Jun |
|
4.65M |
4.65M |
4.55 |
|
|
|
Jul 19 |
10:00 |
Jul |
|
-13.0 |
-10.0 |
-16.6 |
|
|
|
Jul 19 |
10:00 |
Jun |
|
-0.2% |
-0.2% |
0.3% |
|
|
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 |
1306 |
1329 |
1361.50 |
1376.50 |
1365.5 0 |
1380.00 |
|
Sept Nasdaq |
U |
2464 |
2520.50 |
2630.00 |
2379.00 |
2629.5 0 |
2682.00 |
|
Sept Yen
|
U |
124.50 |
125.37 |
126.96 |
127.68 |
126.88 |
127.52 |
|
Sept EC
|
PRD(D) |
120.88 |
121.66 |
121.88 |
123.35 |
123.40 |
124.29 |
|
Sept 10 Year
|
U |
134.00 |
134.08 |
134.11 |
134.27 |
134.27 |
135.06 |
|
Sept 30 Year
|
U |
148.29 |
150.01 |
134.11 |
134.27 |
152.03 |
153.01 |
|
Nov Soybeans
|
U |
14.74 |
15.13 |
16.19 |
17.06 |
15.83 |
16.14 |
|
Sept Corn
|
U |
6.614 |
7.01 |
7.93 |
8.31 |
7.64 |
7.884 |
|
Aug Gold
|
U |
1533.9 |
1543 |
1571.0 |
1590.50 |
1618.7 |
1664.3 |
|
Sept Silver
|
U |
25.93 |
26.06 |
26.82 |
27.49 |
27.76 |
28.24 |
|
Sept Copper
|
PRD(U) |
333 |
341 |
348 |
356 |
353 |
358 |
|
Sept Crude
|
U |
82.15 |
84.61 |
91.00 |
95.21 |
88.57 |
90.07 |
|
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|
|
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