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
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Week of September 16 - September 20 |
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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 |
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Sep 16 |
09:15 |
Industrial Production |
Aug |
|
0.2% |
0.5% |
0.0% |
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|
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 |
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|
|
Sep 17 |
10:00 |
NAHB Housing Market Index |
Sep |
|
58 |
59 |
59 |
|
|
|
Sep |
07:00 |
MBA Mortgage Index |
09/14 |
|
NA |
NA |
-13.5% |
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|
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 |
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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 |
|
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 |
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