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Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


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9247 Broadway
Suite EE
Merrillville, IN 46410

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Gold at six week low.

09-18-2013

Top Day Market News

Today is the conclusion of the 2 day Federal Open Market Committee meeting and with it the market should receive news about tapering, or the roll back of the Fed’s stimulus program. Will they taper by 10 billion, 20 billion, more, less or not at all? Then there will be the press conference after the announcement by the Fed Chairman. So, running up to this event, tread lightly and at 2 o’clock expect high volatility. The market seems priced for a 10 billion dollar taper and for everything to work itself out with the least degree of difficulty. Probably too optimistic.

Overnight, gold remained terrified of tapering and the end of free money by trading to a six week low and blowing out psych support at 1300.00

 

 

Week of September 16 - September 20

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Sep 16

08:30

Empire Manufacturing

Sep

 

7.0

9.0

8.6

 

Sep 16

09:15

Industrial Production

Aug

 

0.2%

0.5%

0.0%

 

Sep 16

09:15

Capacity Utilization

Aug

 

77.8%

77.8%

77.6%

 

Sep 17

08:30

CPI

Aug

 

0.2%

0.2%

0.2%

 

Sep 17

08:30

Core CPI

Aug

 

0.2%

0.2%

0.2%

 

Sep 17

09:00

Net Long-Term TIC Flows

Jul

 

NA

NA

-$66.9B

 

Sep 17

10:00

NAHB Housing Market Index

Sep

 

58

59

59

 

Sep

07:00

MBA Mortgage Index

09/14

 

NA

NA

-13.5%

 

                   

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

18

 

 

 

 

 

 

 

 

Sep 18

08:30

Housing Starts

Aug

 

900K

910K

896K

 

Sep 18

08:30

Building Permits

Aug

 

945K

943K

943K

 

Sep 18

10:30

Crude Inventories

09/14

 

NA

NA

-0.219M

 

Sep 18

14:00

FOMC Rate Decision

Sep

 

0.25%

0.25%

0.25%

 

Sep 19

08:30

Initial Claims

09/14

 

335K

340K

292K

 

Sep 19

08:30

Continuing Claims

09/07

 

2950K

2880K

2871K

 

Sep 19

08:30

Current Account Balance

Q2

 

-$100.0B

-$100.0B

-$106.1B

 

Sep 19

10:00

Existing Home Sales

Aug

 

5.00M

5.30M

5.39M

 

Sep 19

10:00

Philadelphia Fed

Sep

 

8.0

9.0

9.3

 

Sep 19

10:00

Leading Indicators

Aug

 

0.5%

0.6%

0.6%

 

Sep 19

10:30

Natural Gas Inventories

09/14

 

NA

NA

NA

 


 

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

Dec ES

U

1638

1664

1690

1707

1702

1715.50

Dec Nasdaq

D

3108

3144

3144

3196

3202

3225

Dec Yen

PRD(D)

98.80

99.75

100.49

101.10

101.38

102.04

Dec EC

U

131.12

132.11

133.35

133.83

1333.2

134.28

DEC 10 Year

U

122.10

122.30

123.25

124.17

123.31

124.05

DEC 30 Year

U

127.27

128.26

129.19

130.27

130.18

131.08

Nov Soybeans

D

13.14

1347

13.12

13.62

14.07

14.33

Dec Corn

D

4.45

4.59

4.44

4.63

4.69

4.80

Dec Gold

D

1252

1289

1294.40

1320.0

1380

1432

Dec Silver

D

19.82

21.05

21.33

22.06

23.88

25.48

Dec Copper

D

312

317

317

324

328

334

Oct Crude

D

104.41

106.40

104.13

106.31

110.57

112.55