8.10.12
Top Day Market News
Overnight, China’s export growth contracted below expectations and there’s been a concurrent selloff in stocks and a lift to the bond market. Going into the weekend, Europe saw an end to a five day rally. French industrial output slowed. Bankia SA, the troubled lender had been up triple digits over the past several days. On the Chinese export numbers, crude is lower by $1.50. The EC is quietly lower. Volumes remain light which is a function of August. Grain report is out but it appears to be a case of buy the rumor and sell the news. In terms of market psych, it’s reasonable to expect that everyone who wanted to be long the grains are already long while at the same time we saw a decline in open interest.
Beware of thunderstorms and enjoy the weekend.
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
Aug 07 |
15:00 |
|
Jun |
$6.5B |
$10.0B |
$10.0B |
$16.7B |
$17.1B |
Aug 08 |
07:00 |
MBA Mortgage Index |
08/04 |
-1.8% |
NA |
NA |
0.2% |
|
Aug 08 |
08:30 |
|
Q2 |
|
1.5% |
1.5% |
-0.9% |
|
Aug 08 |
08:30 |
Q2 |
|
0.5% |
0.4% |
1.3% |
|
|
Aug 08 |
10:30 |
Crude Inventories |
08/04 |
|
NA |
NA |
-6.522M |
|
Aug 09 |
08:30 |
|
08/04 |
|
385K |
375k |
365K |
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
Aug 09 |
08:30 |
|
07/28 |
|
3300K |
3290K |
3272K |
|
Aug 09 |
08:30 |
|
Jun |
|
-$48.0B |
-$47.5B |
-$48.7B |
|
Aug 09 |
10:00 |
Jun |
|
0.6% |
0.3% |
0.3% |
|
|
Aug 10 |
08:30 |
|
Jul |
|
NA |
NA |
-1.4% |
|
Aug 10 |
08:30 |
|
Jul |
|
NA |
NA |
-0.3% |
|
Aug 10 |
14:00 |
|
Jul |
|
NA |
NA |
- $129.4B |
|
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 |
1335 |
1362 |
1389.50 |
1405 |
1403.2 5 |
1417.50 |
Sept Nasdaq |
U |
2569.50 |
2620.25 |
2695 |
2726 |
2703.5 0 |
2732.00 |
Sept Yen |
U |
126.14 |
126.71 |
126.48 |
127.75 |
128.13 |
128.98 |
Sept EC |
PRD(D) |
120.38 |
122.10 |
121.98 |
123.71 |
124.83 |
125.84 |
Sept 10 Year |
D |
133.01 |
133.15 |
133.07 |
133.25 |
134.20 |
135.11 |
Sept 30 Year |
U |
147.14 |
148.13 |
147.18 |
149.05 |
151.11 |
153.06 |
Nov Soybeans |
U |
15.61 |
15.94 |
15.94 |
16.70 |
16.63 |
16.97 |
Sept Corn |
PRD(U) |
7.63 |
7.864 |
8.10 |
8.34 |
8.29 |
8.48 |
DEC Gold |
D |
1563.0 |
1585.0 |
1609 |
1623 |
1630.3 |
1653.6 |
Sept Silver |
PRD(U) |
26.20 |
26.98 |
27.68 |
28.24 |
28.44 |
29.11 |
Sept Copper |
U |
320 |
328 |
338 |
344 |
345 |
353 |
Sept Crude |
PRD(D) |
85.19 |
88.29 |
92.40 |
94.02 |
93.11 |
94.83 |
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