08-26-2013
Top Day Recommendations
Soybeans were significantly higher overnight on weather models calling for hot, dry weather as the crop enters its harvest. Durable goods will move equities today. Expectation is for a reading of 4%. This should disappoint, however. And it did, as it came in at -7.3%. This will take bonds higher and should be a stock market negative unless the interpretation is that the news is so bad it’s good as the Fed will not be able to commence the taper.
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Week of August 26 - August 30 |
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Date |
ET |
Release |
For |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
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Aug 26 |
08:30 |
Durable Orders |
Jul |
-4.5% |
-5.0% |
3.9% |
4.2% |
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Aug 26 |
08:30 |
Durable Goods –ex trans |
Jul |
0.4% |
0.6% |
-0.1% |
0.0% |
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Aug 27 |
09:00 |
Case-Shiller 20-city Index |
Jun |
12.0% |
12.0% |
12.2% |
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Aug 27 |
10:00 |
Consumer Confidence |
Aug |
77.0 |
77.0 |
80.3 |
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Aug 28 |
07:00 |
MBA Mortgage Index |
08/24 |
NA |
NA |
-4.6% |
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Aug 28 |
10:00 |
Pending Home Sales |
Jul |
-1.0% |
0.2% |
-0.4% |
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Aug 28 |
10:30 |
Crude Inventories |
08/24 |
NA |
NA |
-1.428M |
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Aug 29 |
08:30 |
Initial Claims |
08/24 |
335K |
330K |
336K |
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Aug 29 |
08:30 |
Continuing Claims |
08/17 |
2950K |
2969K |
2999K |
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Aug 29 |
08:30 |
GDP - Second Estimate |
Q2 |
2.1% |
2.1% |
1.7% |
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Date |
ET |
Release |
For |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Aug 29 |
08:30 |
GDP Deflator - Second Estimate |
Q2 |
0.7% |
0.7% |
0.7% |
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|
Aug 29 |
10:30 |
Natural Gas Inventories |
08/24 |
NA |
NA |
57 bcf |
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Aug 30 |
08:30 |
Personal Income |
Jul |
-0.1% |
0.1% |
0.3% |
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Aug 30 |
08:30 |
Personal Spending |
Jul |
0.4% |
0.3% |
0.5% |
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Aug 30 |
08:30 |
PCE Prices - Core |
Jul |
0.2% |
0.2% |
0.2% |
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Aug 30 |
09:45 |
Chicago PMI |
Aug |
53.0 |
53.0 |
52.3 |
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Aug 30 |
09:55 |
Michigan Sentiment - Final |
Aug |
78.0 |
80.0 |
80.0 |
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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 |
PRD(U) |
1620 |
1640 |
1646 |
1670 |
1672 |
1683 |
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Sept Nasdaq |
PRD(U) |
3029 |
3075 |
3102 |
3145 |
3147 |
3172 |
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Sept Yen |
U |
99.46 |
100.41 |
100.83 |
101.72 |
102.78 |
104.16 |
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Sept EC |
D |
132.20 |
133.00 |
133.41 |
134.19 |
134.50 |
135.30 |
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Sept 10 Year |
D |
123.13 |
124.14 |
124.07 |
125.08 |
125.13 |
125.31 |
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Sept 30 Year |
D |
129.02 |
130.14 |
130.25 |
132.14 |
132.20 |
133.14 |
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Nov Soybeans |
U |
12.51 |
12.89 |
13.00 |
13.59 |
13.48 |
13.69 |
|
Dec Corn |
D |
4.50 |
4.60 |
4.88 |
5.06 |
4.83 |
4.91 |
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Dec Gold |
U |
1334 |
1365 |
1375 |
1407 |
1396 |
1430 |
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Sept Silver |
PRD(U) |
21.64 |
22.64 |
23.04 |
24.08 |
24.67 |
25.30 |
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Sept Coppe r |
U |
325 |
330 |
332 |
338 |
338 |
342 |
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Oct Crude |
PRD(U) |
101.70 |
104.01 |
104.83 |
107.47 |
108.11 |
109.90 |
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