Top Day Market News
7.26.12
Exxon Mobil comes up with an earnings beat. The Street isn’t immediately rewarding their results.
European Central Bank president Draghi said that policy makers will do “whatever it takes” to preserve the euro. (What else is he going to say? Change the color of the ECB flag to solid white?) Possibly the market is taking this statement as code that the ECB will find a procedural way to buy European debt. This way the ECB can impersonate the Fed and expand its balance sheet with Euro debt. At any
rate, yesterday’s news that British output declined by 0.7% in Q2 after a decline of 0.3% for Q1 came as a negative surprise to many observers. After two years of austerity the British only find themselves in a state of greater severity. German consumer confidence also slumped. Moody’s downgrades the ESM (the European Stability Mechanism) which now seeks to become nominated as a bank. At the same time, Sicily is proving to be the thorn in Italy’s rose.
Predictably, the EC is higher on the Draghi comments. Take a picture. The only way they change the traffic pattern is after a head on collision.
Weekly jobless claims and Durable goods headline the eco releases.
|
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 |
Jun |
|
375K |
374K |
369K |
|
|
|
Jul 25 |
10:30 |
Crude Inventories |
07/21 |
|
NA |
NA |
NA |
|
|
Jul 26 |
08:30 |
07/21 |
|
365K |
375K |
386K |
|
|
|
Jul 26 |
08:30 |
07/21 |
|
3300K |
3300K |
3300K |
|
|
|
Jul 26 |
08:30 |
Jun |
|
1.0% |
1.0% |
1.3% |
1.1% |
|
|
Jul 26 |
08:30 |
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 |
Q2 |
|
NA |
1.2% |
1.9% |
|
|
|
Jul 27 |
08:30 |
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 |
1324.25 |
1350.00 |
1376.2 5 |
1394.50 |
|
Sept Nasdaq |
D |
2496.50 |
2554.50 |
2519 |
2584 |
2664.5 0 |
2716.50 |
|
Sept Yen
|
U |
125.76 |
126.64 |
127.67 |
128.25 |
1280 |
128.54 |
|
Sept EC
|
D |
120.36 |
121.02 |
120.92 |
122.50 |
122.84 |
124.00 |
|
Sept 10 Year
|
U |
134.06 |
134.17 |
134.315 |
135.155 |
135.04 |
135.12 |
|
Sept 30 Year |
U |
149.16 |
150.21 |
152.10 |
153.11 |
152.05 |
153.14 |
|
Nov Soybeans
|
U |
15.25 |
16.05 |
15.595 |
16.475 |
17.28 |
17.71 |
|
Sept Corn |
U |
7.21 |
7.72 |
7.70 |
8.062 |
8.52 |
8.80 |
|
Aug Gold |
U |
1551 |
1567 |
1587.3 |
1630.7 |
1598.6 |
1614.50 |
|
Sept Silver |
|
26.32 |
26.80 |
26.99 |
27.73 |
27.67 |
28.07 |
|
Sept Copper |
D |
334 |
339 |
333 |
340 |
352 |
359 |
|
Sept Crude |
U |
86.14 |
87.92 |
87.42 |
89.94 |
94.36 |
97.02 |
|
|
|
|
|
|
|
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