7.18.2014
Top Day Market News
Yesterday introduced the third element. The exogenous event that can break technical formations. Between events in the Ukraine and in Gaza, volatility returned and complacency was put on high alert. Crude shot higher on intense short covering and some fresh new buying while gold climbed the charts and stocks saw shots across the bow. In the immediate aftermath of early trading overnight, there was some semblance of stability but the balance or regaining of same probably will rely on how the US and Russia navigate the next few days. In retrospect, it’s difficult to believe commercial air wouldn’t completely avoid Ukrainian airspace but before recent events that airspace saw 400 flights a day by commercial carriers.
Today we get U of Michigan consumer sentiment and leading economic indicators.
|
Week |
of July |
14 - July 18 |
|
|
|
|
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 15 |
08:30 |
Retail Sales |
Jun |
|
0.7% |
0.7% |
0.3% |
|
|
Jul 15 |
08:30 |
Retail Sales ex-auto |
Jun |
|
0.6% |
0.6% |
0.1% |
|
|
Jul 15 |
08:30 |
Empire Manufacturing |
Jul |
|
10.0 |
13.2 |
19.3 |
|
|
Jul 15 |
08:30 |
Export Prices ex-ag. |
Jun |
|
NA |
NA |
0.1% |
|
|
Jul 15 |
08:30 |
Import Prices ex-oil |
Jun |
|
NA |
NA |
0.0% |
|
|
Jul 15 |
10:00 |
Business Inventories |
May |
|
0.5% |
0.6% |
0.6% |
|
|
Jul 16 |
07:00 |
MBA Mortgage Index |
07/12 |
|
NA |
NA |
1.9% |
|
|
Jul 16 |
08:30 |
PPI |
Jun |
|
0.2% |
0.2% |
-0.2% |
|
|
Jul 16 |
08:30 |
Core PPI |
Jun |
|
0.2% |
0.2% |
-0.1% |
|
|
Jul 16 |
09:00 |
Net Long-Term TIC Flows |
May |
|
NA |
NA |
- $24.2B |
|
|
Jul 16 |
09:15 |
Industrial Production |
Jun |
|
0.4% |
0.4% |
0.6% |
|
|
Jul 16 |
09:15 |
Capacity Utilization |
Jun |
|
79.2% |
79.2% |
79.1% |
|
|
Jul 16 |
10:00 |
NAHB Housing Market Index |
Jul |
|
50 |
50 |
49 |
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jul 16 |
10:30 |
Crude Inventories |
07/12 |
|
NA |
NA |
- 2.370M |
|
|
Jul 16 |
14:00 |
Fed's Beige Book |
Jul |
|
|
|
|
|
|
Jul 17 |
08:30 |
Initial Claims |
07/12 |
|
315K |
311K |
304K |
|
|
Jul 17 |
08:30 |
Continuing Claims |
07/05 |
|
2575K |
2563K |
2584K |
|
|
Jul 17 |
08:30 |
Housing Starts |
Jun |
|
975K |
1020K |
1001K |
|
|
Jul 17 |
08:30 |
Building Permits |
Jun |
|
1025K |
1037K |
991K |
|
|
Jul 17 |
10:00 |
Philadelphia Fed |
Jul |
|
10.0 |
12.5 |
17.8 |
|
|
Jul 17 |
10:30 |
Natural Gas Inventories |
07/12 |
|
NA |
NA |
93 bcf |
|
|
Jul 18 |
09:55 |
Mich Sentiment |
Jul |
|
87.0 |
84.0 |
82.5 |
|
|
Jul 18 |
10:00 |
Leading Indicators |
Jun |
|
0.6% |
0.5% |
0.5% |
|
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 |
1929.50 |
1946 |
1942 |
1970 |
1978 |
1994 |
|
Sept Nasdaq |
U |
3798 |
3846 |
3847 |
3715 |
3933 |
3966 |
|
Sept Yen |
D |
97.45 |
98.12 |
98.15 |
98.95 |
99.22 |
99.65 |
|
Sept EC |
U |
135.40 |
135.76 |
135.06 |
135.54 |
136.51 |
136.90 |
|
Sept 10 Year Note |
D |
123.16 |
124..1 |
124.31 |
125.22 |
125.75 |
126.11 |
|
Sept 30 Year Bond |
U |
133.28 |
135.21 |
137.12 |
138.25 |
138.15 |
139.16 |
|
Aug Soybeans |
U |
1084 |
11.40 |
11.54 |
11.93 |
12.70 |
13.45 |
|
Sept Corn |
PRD(U) |
10.84 |
11.40 |
3.73 |
3.86 |
12.70 |
13.45 |
|
Aug Gold |
D |
1298.20 |
1319 |
1301.30 |
1329.10 |
1353 |
1367 |
|
Sept Silver |
PRD(U) |
20.56 |
21.13 |
20.82 |
21.36 |
21.80 |
22.09 |
|
Sept Copper |
D |
320.50 |
323.90 |
319.20 |
323.00 |
330. |
332.70 |
|
Aug Crude |
PRD(U) |
97.95 |
99.26 |
101.67 |
104.30 |
12.98 |
105.47 |
|
|
|
|
|
|
|
|
|