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Apple was a big miss yesterday afternoon

Market News

Top Day Market News

7.25.12

Apple was a big miss yesterday afternoon, missing on both top and bottom lines. As Apple is a very crowded trade, there was a great deal of acute pain felt right after the close yesterday. Be that as it may, the low in that first five minutes was the overnight low. Since that time, the market has been slowly retracing its loss but the Apple effect is still reverberating with the S+P higher and the Nasdaq lower going into the opening. Caterpillar was a beat in earnings. Another factor behind the equity market claw back is a well- placed article in the NY times stating that the Fed is closer than ever to QE3.

 

Spain’s borrowing costs continue to increase to untenable levels. The yuan dropped to its weakest level since last September ass China keeps cutting rates in a contracting economy.  Crude inventories today.

 

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%

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

 

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

D

1321

1339..5

0

1310.50

1342.75

1376.2

5

1394.50

Sept Nasdaq

D

2496.50

2554.50

2516.25

2577.00

2664.5

0

2716.50

Sept Yen

 

U

125.76

126.64

127.73

128.38

1280

128.54

Sept EC

 

D

120.36

121.02

119.95

121.83

122.84

124.00

Sept 10 Year

U

134.06

134.17

134.29

135.23

135.04

135.12

Sept 30 Year

U

149.16

150.21

151.30

154.05

152.05

153.14

Nov Soybeans

PRD(D)

15.25

16.05

15.07

16.14

17.28

17.71

Sept Corn

 

PRD(D)

7.21

7.72

7.70

8.12

8.52

8.80

Aug Gold

 

U

1551

1567

1568

1592

1598.6

1614.50

Sept Silver

 

PRD(D)

26.32

26.80

26.54

27.41

27.67

28.07

Sept Copper


D

334

339

330

339

352

359

Sept Crude

 

U

86.14

87.92

86.68

89.25

94.36

97.02

 

 

 

 

 

 

 

 

 News