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Today brings in some noise

Market News

Top Day Market News

7.31.12

Today brings in some noise. There’s the 8:30 release of personal income and spending along with the PCE price index and the employment cost index. These should cancel each other out. The two stand-alone releases which should resonate will be the Chicago Purchasing Managers Index at 9:45 and the Consumer Confidence at 10. We also begin a two day Fed meeting with the decision out at 2:15 on Wednesday which will not be followed up by a press conference which probably means that the Fed wants to look at another unemployment number before advancing any idea of further stimulus.

Week of July 30 - August 03

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

Jul 31

08:30

Personal Income

Jun

 

0.9%

0.4%

0.2%

 

Jul 31

08:30

Personal Spending

Jun

 

0.1%

0.1%

0.0%

 

Jul 31

08:30

PCE Prices - Core

Jun

 

0.1%

0.1%

0.1%

 

 

Jul 31

 

08:30

Employment Cost

Index

 

Q2

 

 

0.5%

 

0.5%

 

0.4%

 

 

Jul 31

 

09:00

Case-Shiller 20-city

Index

 

May

 

 

-1.8%

 

-1.8%

 

-1.9%

 

Jul 31

09:45

Chicago PMI

Jul

 

51.0

52.5

52.9

 

Jul 31

10:00

Consumer Confidence

Jul

 

61.0

61.0

62.0

 

Aug

01

 

07:00

 

MBA Mortgage Index

 

07/28

 

 

NA

 

NA

 

0.9%

 

Aug

01

 

08:15

ADP Employment

Change

 

Jul

 

 

125K

 

125K

 

179K

 

Aug

01

 

10:00

 

ISM Index

 

Jul

 

 

49.0

 

49.9

 

49.7

 

Aug

01

 

10:00

Construction

Spending

 

Jun

 

 

0.7%

 

0.5%

 

0.9%

 

Aug

01

 

10:30

 

Crude Inventories

 

07/28

 

 

NA

 

NA

 

2.717M

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

Aug

01

 

14:00

 

Auto Sales

 

Jul

 

 

NA

 

NA

 

4.9M

 

Aug

01

 

14:00

 

Truck Sales

 

Jul

 

 

NA

 

NA

 

6.1M

 

Aug

01

 

14:15

 

FOMC Rate Decision

 

Jul

 

 

0.25%

 

0.25%

 

0.25%

 

Aug

02

 

07:30

 

Challenger Job Cuts

 

Jul

 

 

NA

 

NA

 

-9.5%

 

Aug

02

 

08:30

 

Initial Claims

 

07/28

 

 

385K

 

365K

 

353K

 

Aug

02

 

08:30

 

Continuing Claims

 

07/21

 

 

3300K

 

3298K

 

3287K

 

Aug

02

 

10:00

 

Factory Orders

 

Jun

 

 

1.0%

 

0.6%

 

0.7%

 

Aug

03

 

08:30

 

Nonfarm Payrolls

 

Jul

 

 

85K

 

100K

 

80K

 

Aug

03

 

08:30

Nonfarm Private

Payrolls

 

July

 

 

100K

 

105K

 

84K

 

Aug

03

 

08:30

 

Unemployment Rate

 

Jul

 

 

8.2%

 

8.2%

 

8.2%

 

Aug

03

 

08:30

 

Hourly Earnings

 

Jul

 

 

0.1%

 

0.2%

 

0.3%

 

Aug

03

 

08:30

 

Average Workweek

 

Jul

 

 

34.5

 

34.5

 

34.5

 

Aug

03

 

10:00

 

ISM Services

 

Jul

 

 

52.0

 

52.2

 

52.1

 

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

1299.25

1341

1375

1393

1404.5

0

1426.50

Sept Nasdaq

D

2472.50

2557.25

2623.50

2670.00

2686.5

0

2730.50

Sept Yen

 

U

126.30

126.50

127.50

128.50

128.17

129.04

Sept EC

 

U

119.09

121.13

122.29

123.57

124.59

126.01

Sept 10 Year

 

D

132.26

133.15

134.05

135.00

135.04

136.04

Sept 30 Year

 

D

146.25

148.13

150.00

151.31

12.16

154.31

Nov Soybeans

 

U

14.54

15.28

16.24

16.66

16.83

17.65

Sept Corn

 

U

7.48

7.73

80.54

83.74

8.23

8.48

DEC Gold

 

U

1542.6

1584.9

1617.7

1636.2

1651.4

1675.6

Sept Silver

 

U

26.10

26.90

27.63

28.59

28.17

28.65

Sept Copper

 

U

329

336

339

347

347

351

Sept Crude

 

U

84.78

87.52

88.40

90.70

92.32

94.38

 

 

 

 

 

 

 

 

 News