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Concern about a Greek default has pressured equities over the weekend

Market News

Top Day Market News

7.23.12

There are no eco releases this morning. Concern about a Greek default has pressured equities over the weekend. Greek creditors meet later this week and doubts are growing that they will fulfill their agreements. The IMF is reportedly going to suspend further rescue aid to Greece. Economic contraction continues to China and the US as measured by GDP and job creation. Crude is lower by almost 3% on fears of further economic contraction. Oddly enough, the idea is now being floated that Greece can default without leaving the EU. By increasing sales tax to 21%, Spain is kick starting its own recession.

 Next objective for ES looks to be 1322

Week of July 23 - July 27

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

 

Jul 24

 

10:00

FHFA Housing Price

Index

 

May

 

 

NA

 

NA

 

0.8%

 

Jul 25

07:00

MBA Mortgage Index

07/21

 

NA

NA

NA

 

Jul 25

10:00

New Home Sales

Jun

 

375K

374K

369K

 

Jul 25

10:30

Crude Inventories

07/21

 

NA

NA

NA

 

Jul 26

08:30

Initial Claims

07/21

 

365K

375K

386K

 

Jul 26

08:30

Continuing Claims

07/21

 

3300K

3300K

3300K

 

Jul 26

08:30

Durable Orders

Jun

 

1.0%

1.0%

1.3%

1.1%

 

Jul 26

 

08:30

Durable Orders - ex

Transportation

 

Jun

 

 

0.5%

 

0.0%

 

0.7%

 

0.4%

Jul 26

10:00

Pending Home Sales

Jun

 

1.0%

0.7%

5.9%

 

Jul 27

08:30

GDP-Adv.

Q2

 

NA

1.2%

1.9%

 

Jul 27

08:30

Chain Deflator-Adv.

Q2

 

NA

1.5%

2.0%

 

 

Jul 27

 

09:55

Michigan Sentiment - Final

 

Jul

 

 

71.5

 

72.0

 

72.0

 

                                                                     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

1321

1339..5

0

1347.50

1367.50

1376.2

5

1394.50

Sept Nasdaq

U

2496.50

2554.50

2591.50

2609.00

2664.5

0

2716.50

Sept Yen

 

U

125.76

126.64

127.14

127.94

1280

128.54

Sept EC

 

D

120.36

121.02

120.65

122.55

122.84

124.00

Sept 10 Year

 

U

134.06

134.17

134.19

135.09

135.04

135.12

Sept 30 Year

 

U

149.16

150.21

150.29

152.29

125.20

153.14

Nov Soybeans

 

U

15.25

16.05

16.28

17.03

17.28

17.71

 

 

 

 

 

 

 

 

Sept Corn

 

U

7.21

7.72

7.88

8.35

8.52

8.80

Aug Gold

 

U

1551

1567

1566.60

1588.80

1598.6

1614.50

Sept Silver

 

U

26.32

26.80

26.48

27.55

27.67

28.07

Sept Copper

 

D

334

339

335

351

352

359

Sept Crude

 

U

88.14

87.92

90.08

92.66

94.36

97.02

 

 

 

 

 

 

 

 

News