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Phone: 312.920.0212
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9247 Broadway
Suite EE
Merrillville, IN 46410

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Corn declined as a wall of supply merged from the harvest.

8.27.2014

Top Day Market News

Dollar strength continued yesterday as durable goods came in higher than expected. Corn declined as a wall of supply merged from the harvest. The EC fell to its lowest level in a year on perceived differences in central bank policy intentions. US consumer confidence came in higher than expected as well. Trading feels thin being the last vacation week in August. Just oil supply numbers today.


Week of

August

25 - August 29

 

 

 

 

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Aug 25

10:00

New Home Sales

Jul

 

415K

427K

406K

 

Aug 26

08:30

Durable Orders

Jul

 

12.6%

7.0%

1.7%

0.7%

Aug 26

08:30

Durable Goods –ex  transportation

Jul

 

1.0%

0.6%

1.9%

0.8%

Aug 26

09:00

Case-Shiller 20-city Index

Jun

 

8.5%

8.3%

9.3%

 

Aug 26

09:00

FHFA Housing Price Index

Jun

 

NA

NA

0.4%

 

Aug 26

10:00

Consumer  Confidence

Aug

 

88.0

88.3

90.9

 

Aug 27

07:00

MBA Mortgage Index

08/23

 

NA

NA

1.4%

 

Aug 27

10:30

Crude Inventories

08/23

 

NA

NA

- 4.474M

 

Aug 28

08:30

Initial Claims

08/23

 

315K

302K

298K

 

Aug 28

08:30

Continuing Claims

08/16

 

2525K

2520K

2500K

 

Aug 28

08:30

GDP - Second Estimate

Q2

 

4.0%

4.0%

4.0%

 

Aug 28

08:30

GDP Deflator -  Second Estimate

Q2

 

2.0%

2.0%

2.0%

 

Aug 28

10:00

Pending Home Sales

Jul

 

0.5%

0.5%

-1.1%

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Aug 28

10:30

Natural Gas Inventories

08/23

 

NA

NA

88 bcf

 

Aug 29

08:30

Personal Income

Jul

 

0.2%

0.3%

0.4%

 

Aug 29

08:30

Personal Spending

Jul

 

0.1%

0.1%

0.4%

 

Aug 29

08:30

PCE Prices - Core

Jul

 

0.1%

0.1%

0.1%

 

Aug 29

09:45

Chicago PMI

Aug

 

53.0

54.8

52.6

 

Aug 29

09:55

Michigan Sentiment -  Final

Aug

 

80.0

80.0

79.2

 

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

1942

1965

1987

2008

2001

2014

Sept Nasdaq

U

3966

4011

4056

4083

4081

4106

Sept Yen

D

94.84

95.52

95.76

96.56

97.35

98.50

Sept EC

D

131.11

131.78

131.36

132.64

133.56

164.67

Sept 10 Year Note

U

125.00

125.14

125.28

126310

126.15

127.08

Sept 30 Year Bond

U

138.19

139.17

139.31

141.30

141.07

141.31

Nov Soybeans

D

10.205

10.31

10.05

10.37

10.56

10.715

Dec Corn

PRD(D)

3.57

3.64

3.584

3.682

3.79

3.88

Dec Gold

D

1255

1268

1276.50

1292.00

1300

1318

Dec Silver

D

19.12

19.30

19.31

19.66

19.715

19.94

Dec Coppe r

D

307

314

319

323

326

330.40

Oct Crude

D

91.02

92.19

93.35

94.35

97.83

96.30