8.08.2014
Top Day Market News
The main story yesterday was that President Obama has authorized limited air strikes in Iraq against the insurgents ratcheting up tension in the area. This was a gold and dollar positive while equities slipped down the ladder. Bonds were another beneficiary on a flight to safety. Crude saw some short covering but that said, the move was muted. Nasdaq has flipped as risk trades become less appetizing as we go through this period of dollar strength. Remember, look for the VIX at 21 to look at the long side of equties.
|
Week |
of August |
04 - August 08 |
|
|
|
|
|
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Aug 05 |
10:00 |
Factory Orders |
Jun |
|
0.4% |
0.5% |
-0.5% |
|
|
Aug 05 |
10:00 |
ISM Services |
Jul |
|
56.5 |
56.5 |
56.0 |
|
|
Aug 06 |
07:00 |
MBA Mortgage Index |
08/02 |
|
NA |
NA |
-2.2% |
|
|
Aug 06 |
08:30 |
Trade Balance |
Jun |
|
-$45.1B |
-$45.2B |
-$44.4B |
|
|
Aug 06 |
10:30 |
Crude Inventories |
08/02 |
|
NA |
NA |
-3.697M |
|
|
Aug 07 |
08:30 |
Initial Claims |
08/02 |
|
310K |
308K |
302K |
|
|
Aug 07 |
08:30 |
Continuing Claims |
07/26 |
|
2525K |
2525K |
2539K |
|
|
Aug 07 |
10:30 |
Natural Gas Inventories |
08/02 |
|
NA |
NA |
88 bcf |
|
|
Aug 07 |
15:00 |
Consumer Credit |
Jun |
|
$15.0B |
$15.8B |
$19.6B |
|
|
Aug 08 |
08:30 |
Productivity-Prel |
Q2 |
|
2.0% |
1.4% |
-3.2% |
|
|
Aug 08 |
08:30 |
Unit Labor Costs |
Q2 |
|
2.0% |
2.0% |
5.7% |
|
|
Aug 08 |
10:00 |
Wholesale Inventories |
Jun |
|
0.3% |
0.4% |
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 |
1866 |
1891 |
1884 |
1920.25 |
1960 |
2004 |
|
Sept Nasdaq |
D |
3764 |
3817 |
384.50 |
388.50 |
3952 |
4035 |
|
Sept Yen |
U |
96.30 |
96.88 |
97.73 |
98.35 |
98.18 |
98.90 |
|
Sept EC |
D |
133.38 |
133.86 |
133.34 |
133.81 |
134.64 |
134.85 |
|
Sept 10 Year Note |
U |
123.25 |
124.18 |
125.17 |
126.12 |
125.24 |
126.06 |
|
Sept 30 Year Bond |
U |
135.08 |
136.22 |
138.19 |
140.05 |
139.11 |
140.18 |
|
Nov Soybeans |
D |
10.16 |
10.37 |
10.70 |
10.84 |
10.98 |
11.37 |
|
Sept Corn |
D |
3.40 |
3.462 |
3.55 |
3.62 |
3.64 |
3.754 |
|
Dec Gold |
PRD(U) |
1263.30 |
1279.2 |
1604.80 |
1324 |
1312 |
1330 |
|
Sept Silver |
D |
19.57 |
20.10 |
19.87 |
20.25 |
20.70 |
21.67 |
|
Sept Copper |
D |
317 |
319 |
314.50 |
320.00 |
325 |
328 |
|
Sept Crude |
D |
93.92 |
95.77 |
96.88 |
98.47 |
100.75 |
103.94 |
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