09-20-2013
Top Day Market News
October crude comes off the board today. Roll or get flat. Yesterday’s ranges were tight after Wednesday’s explosion. The battered bears covered and the bulls were content to leave sleeping dogs to their dreams. The Street continues to debate the Fed’s inaction. A “missed opportunity” is heard frequently. Tapering is an eventuality but the longer they wait the greater the probability of time compression. At this point stocks seem more than fairly valued so a 5% correction should be expected. It’s a triple witching day so hold onto your pointed hat. No eco releases today, thankfully. Tighten the tourniquets over the weekend.
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Week of September 16 - September 20 |
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Date |
ET |
Release |
For |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
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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% |
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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% |
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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 |
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Sep 18 |
07:00 |
MBA Mortgage Index |
09/14 |
NA |
NA |
-13.5% |
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Sep 18 |
08:30 |
Housing Starts |
Aug |
900K |
910K |
896K |
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Date |
ET |
Release |
For |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
|
Sep 18 |
08:30 |
Building Permits |
Aug |
945K |
943K |
943K |
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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 |
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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 |
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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
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Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
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Dec ES |
U |
1638 |
1664 |
1705.50 |
1732.00 |
1702 |
1715.50 |
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Dec Nasdaq |
PRD(U) |
3108 |
3144 |
3218 |
3244 |
3202 |
3225 |
|
Dec Yen |
U |
98.80 |
99.75 |
100.06 |
101.75 |
101.38 |
102.04 |
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Dec EC |
U |
131.12 |
132.11 |
134.58 |
136.04 |
1333.2 |
134.28 |
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DEC 10 Year |
U |
122.10 |
122.30 |
124.19 |
126.08 |
123.31 |
124.05 |
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DEC 30 Year |
U |
127.27 |
128.26 |
130.16 |
132.16 |
130.18 |
131.08 |
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Nov Soybeans |
D |
13.14 |
1347 |
13.14 |
13.56 |
14.07 |
14.33 |
|
Dec Corn |
D |
4.45 |
4.59 |
4.51 |
4.67 |
4.69 |
4.80 |
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Dec Gold |
D |
1252 |
1289 |
1350 |
1384 |
1380 |
1432 |
|
Dec Silver |
D |
19.82 |
21.05 |
22.50 |
23.53 |
23.88 |
25.48 |
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Dec Copper |
PRD(U) |
312 |
317 |
331 |
338 |
328 |
334 |
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Nov Crude |
D |
104.41 |
106.40 |
103.90 |
107.42 |
110.57 |
112.55 |
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