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The dollar is weaker this morning.

Market News

10.01.12

Top Day Market News

Welcome to the first Monday in October and the convening of the Supreme Court. The dollar is weaker this morning as there was generally a good feeling in the wake of Spanish bank stress tests. The weaker dollar helped to ignite another charge towards 1800 by gold.

ISM services index at 10 along with construction spending. As you can tell by the grid below, we have several markets pulling in different directions. Experience suggests that when this condition prevails, technicals dominate. The bond market, generally considered to be the “smartest” of all the markets seems largely unmoved by the gyrations in the peripherals.    

 

Week of October 01 - October 05

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Oct 01

10:00

ISM Index

Sep

 

49.2

49.7

49.6

 

Oct 01

10:00

Construction Spending

Aug

 

0.1%

0.4%

-0.9%

 

Oct 02

14:00

Auto Sales

Sep

 

NA

NA

5.3M

 

Oct 02

14:00

Truck Sales

Sep

 

NA

NA

6.3M

 

Oct 03

07:00

MBA Mortgage Index

09/29

 

NA

NA

+2.8%

 

Oct 03

08:15

ADP Employment Change

Sep

 

100K

133K

201K

 

Oct 03

10:00

ISM Services

Sep

 

52.0

53.0

53.7

 

Oct 03

10:30

Crude Inventories

09/29

 

NA

NA

-2.446M

 

Oct 03

14:00

FOMC Minutes

9/12

         

Oct 04

07:30

Challenger Job Cuts

Sep

 

NA

NA

-36.9%

 

Oct 04

08:30

Initial Claims

09/29

 

370K

365K

359K

 

Oct 04

08:30

Continuing Claims

09/22

 

3275K

3273K

3271K

 

Oct 04

10:00

Factory Orders

Aug

 

-5.5%

-6.0%

2.8%

 

Oct 05

08:30

Nonfarm Payrolls

Sep

 

120K

120K

96K

 

Oct 05

08:30

Nonfarm Private Payrolls

Sep

 

130K

130K

103K

 

Oct 05

08:30

Unemployment Rate

Sep

 

8.2%

8.1%

8.1%

 

Oct 05

08:30

Hourly Earnings

Sep

 

0.1%

0.2%

0.0%

 

Oct 05

08:30

Average Workweek

Sep

 

34.5

34.4

34.4

 

Oct 05

15:00

Consumer Credit

Aug

 

$5.0B

$5.0B

-3.3B

 

Actual refers to the actual figures after their release.

Briefing.com Forecast refers to Briefing.com's forecast.

Briefing.com Consensus represents the market consensus estimate for each indicator.

Prior represents the last actual for each indicator. In cases where the release is a revision to an earlier estimate, as is possible with GDP, productivity, and U of Michigan sentiment, the last actual refers to the preliminary estimate for the same period. After a report is released, the Prior column reflects the prior figure as revised.

The Revised From column lists the prior number as it was originally reported, ie before revision.

Not included: Mitsubishi and Redbook chain store indexes are released every Tuesday morning. M2 is released every Thursday at 16:30 ET.

 

 

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

U

1450.50

1419.75

1427.50

1443.50

1452.50

1471.50

Dec Nasdaq

D

2708.50

2750.50

2780.75

2811.25

2845.50

2898.50

Dec Yen

U

127.32

127.82

127.87

128.99

129.02

129.72

Dec EC

D

127.45

128.30

128.17

129.39

129.50

130.50

DEC Sept 10 Year

U

132.03

132.25

133.09

133.24

134.02

134.15

Dec  30 Year

U

145.15

147.14

148.30

150.02

150.26

152.07

Nov Soybeans

D

15.20

15.63

15.69

16.23

16.32

16.63

Dec Corn

D

6.87

7.22

7.22

7.73

7.73

7.90

DEC Gold

U

1718

1745

1766.9

1792.80

1793.50

1813.50

Dec Silver

D

32.70

33.61

34.29

35.22

35.18

35.86

Dec Copper

U

363

369

372

379

379

384

Oct Crude

D

87.60

89.63

90.79

93.41

93.88

95.66

 

 

 

 

 

 

 

 

 

 

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