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Equities are lower overnight on signs of Chinese economic contraction.

Market News

9.20.12

Top Day Market News

 Equities are lower overnight on signs of Chinese economic contraction. Chinese manufacturing has probably contracted for 11 consecutive months. The Chinese purchasing managersindex came in at 47.8 vs. 47.6 last month. In Europe, the services and manufacturing composite index dropped to a reading of 45.9, a 39 month low. Unemployment continues to seek traction. Trend in crude flipped with a vengeance.

Weekly jobless claims come in at 382K, which was higher than an anticipated 375K. Pretty much lateral and within the plus/minus margin of error. Then at 10 we get Philly Fed and Leading Economic Indicators.

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

Sep

17

 

08:30

Empire

Manufacturing

 

Sep

 

 

-3.0

 

-3.0

 

-5.9

 

Sep

18

 

08:30

Current Account

Balance

 

Q2

 

 

-$125.0B

 

-$125.6B

-

$137.3B

 

Sep

18

 

09:00

Net Long-Term TIC Flows

 

Jul

 

 

NA

 

NA

 

$9.3B

 

Sep

18

 

10:00

NAHB Housing

Market Index

 

Sep

 

 

38

 

38

 

37

 

Sep

19

 

07:00

 

MBA Mortgage Index

 

09/15

 

 

NA

 

NA

 

11.1%

 

Sep

19

 

08:30

 

Housing Starts

 

Aug

 

 

775K

 

772K

 

746K

 

Sep

19

 

08:30

 

Building Permits

 

Aug

 

 

775K

 

800K

 

812K

 

Sep

19

 

10:00

 

Existing Home Sales

 

Aug

 

 

4.55M

 

4.58M

 

4.47M

 

Sep

10:30

Crude Inventories

09/15

 

NA

NA

1.994M

 

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

19

 

 

 

 

 

 

 

 

Sep

20

 

08:30

 

Initial Claims

 

09/15

 

 

375K

 

375K

 

382K

 

Sep

20

 

08:30

 

Continuing Claims

 

09/8

 

 

3300K

 

3292K

 

3283K

 

Sep

20

 

10:00

 

Philadelphia Fed

 

Sep

 

 

-5.0

 

-5.0

 

-7.1

 

Sep

20

 

10:00

 

Leading Indicators

 

Aug

 

 

0.0%

 

0.0%

 

0.4%

 

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

1393.50

1426.25

1446.50

1468.00

1480.2

5

1500.50

Dec Nasdaq

U

2735.50

2793.0

2833

2864

2883.5

0

2916.50

Dec Yen

 

D

126.28

128.59

126.88

128.25

132.72

134.27

Dec EC

 

U

126.61

128.59

129.65

131.12

132.72

134.27

DEC Sept 10 Year

 

U

130.24

131.10

132.03

132.26

132.27

133.25

Dec 30 Year

 

U

141.05

143.02

145.23

147.19

148.09

151.19

Nov Soybeans

 

D

16.60

17.15

16.49

16.82

17.72

18.05

Dec Corn

 

D

7.35

7.73

7.44

7.64

8.05

8.29

DEC Gold

U

1697

1735.6

1763

1780

1795.8

0

1818.10

Dec Silver

 

U

31.59

33.14

34.26

34.98

35.02

36.54

Dec Copper

 

U

356

369

375

384

389

397

Oct

Crude

D

93.19

96.12

88.50

95.35

101.20

103.35

 

 

 

 

 

 

 

 

 News