08-20-2013
Top Day Recommendations
Fears that the tapering or reduction of stimulus is just around the corner have expressed itself in the market overnight. Yen rises as stocks decline. Federal Open Market Committee meeting will be released tomorrow. The potential removal of stimulus, oil is lower while gold’s recent rally has encouraged profit taking. EC is testing daily overhead resistance. 30 year bond is rebounding from oversold levels but this should not sustain.
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Week of August 19 - August 23 |
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Date |
ET |
Release |
For |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
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Aug 21 |
07:00 |
MBA Mortgage Index |
08/17 |
NA |
NA |
-4.7% |
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Aug 21 |
10:00 |
Existing Home Sales |
Jul |
5.00M |
5.20M |
5.08M |
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Aug 21 |
10:30 |
Crude Inventories |
08/17 |
NA |
NA |
-2.812M |
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Aug 21 |
14:00 |
FOMC Minutes |
7/31 |
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|
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|
Aug 22 |
08:30 |
Initial Claims |
08/17 |
345K |
337K |
320K |
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Aug 22 |
08:30 |
Continuing Claims |
08/10 |
2975K |
2959K |
2969K |
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Aug 22 |
09:00 |
FHFA Housing Price Index |
Jun |
NA |
NA |
0.7% |
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Aug 22 |
10:00 |
Leading Indicators |
Jul |
0.5% |
0.5% |
0.0% |
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Aug 22 |
10:30 |
Natural Gas Inventories |
08/17 |
NA |
NA |
65 buff |
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Aug 23 |
10:00 |
New Home Sales |
Jul |
475K |
490K |
497K |
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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
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Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
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Sept ES |
D |
1619 |
1635 |
1633 |
1653 |
1680 |
1709 |
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Sept Nasdaq |
D |
3013 |
3040 |
3036 |
3093 |
3122 |
3175 |
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Sept Yen |
U |
99.81 |
101.15 |
102.03 |
103.19 |
104.05 |
105.61 |
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Sept EC |
D |
131.40 |
132.30 |
133.16 |
134.06 |
134.10 |
134.80 |
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Sept 10 Year |
D |
127.22 |
129.11 |
12.60 |
13.14 |
133.28 |
136.24 |
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Sept 30 Year |
D |
123.06 |
124.03 |
4.83 |
4.98 |
126.13 |
127.27 |
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Nov Soybeans |
U |
11.49 |
12.04 |
124.12 |
125.07 |
12.93 |
13.27 |
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Sept Corn |
D |
4.39 |
4.515 |
130.00 |
131.15 |
4.87 |
5.02 |
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Dec Gold |
U |
1290 |
1332 |
1348.5 |
1379.2 |
1398 |
1421 |
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Sept Silver |
U |
19.57 |
21.41 |
22.59 |
23.52 |
24.26 |
25.27 |
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Sept Copper |
U |
324 |
330 |
329 |
336 |
339 |
343 |
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Oct Crude |
U |
120.90 |
105.20 |
105.60 |
107.54 |
108.87 |
110.24 |
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