10.22.12
Top Day Recommendations
No economic releases until Wednesday. Bonds are lower in the belief that durable goods orders later in the week will show acceleration in US growth. The 10 year note has backed up 5 out of the last six sessions. There’s also an auction of 2, 5 and 7 year notes this week to raise 99 billion. The Fed also meets for two days starting tomorrow with a rate decision on Wednesday at 2:15. Some have speculated that a Romney win would lead to labeling China as a currency manipulator and their preemptive action is to reduce their US debt holdings.
There was also a story over the weekend that the US and Iran were about to discuss Iran’s nuclear program; in other words, the sanctions have applied enough pain to the Iranian economy, especially with the devaluation of their currency, to bring them back to the negotiating table to review their uranium enrichment program.
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Week of October 22 - October 26 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Oct 24 |
07:00 |
MBA Mortgage Index |
10/20 |
|
NA |
NA |
-4.2% |
|
|
|
Oct 24 |
10:00 |
|
Sep |
|
385K |
385K |
373K |
|
|
|
Oct 24 |
10:00 |
FHFA Housing Price Index |
Aug |
|
NA |
NA |
0.2% |
|
|
|
Oct 24 |
10:30 |
Crude Inventories |
10/20 |
|
NA |
NA |
2.860M |
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Oct 24 |
14:15 |
FOMC Rate Decision |
Oct |
|
0.25% |
0.25% |
0.25% |
|
|
Oct 25 |
08:30 |
|
10/20 |
|
375K |
375K |
388K |
|
|
Oct 25 |
08:30 |
|
10/13 |
|
3275K |
3237K |
3252K |
|
|
Oct 25 |
08:30 |
|
Sep |
|
12.0% |
7.4% |
-13.2% |
|
|
Oct 25 |
08:30 |
Sep |
|
0.2% |
1.0% |
-1.6% |
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|
|
Oct 25 |
10:00 |
Pending Home Sales |
Sep |
|
1.0% |
2.4% |
-2.6% |
|
|
Oct 26 |
08:30 |
|
Q3 |
|
0.9% |
1.9% |
1.3% |
|
|
Oct 26 |
08:30 |
|
Q3 |
|
2.6% |
2.0% |
1.6% |
|
|
Oct 26 |
09:55 |
Oct |
|
82.5 |
83.1 |
83.1 |
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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 |
Prd(D) |
1390.25 |
1407.00 |
1413 |
1443 |
1450.0 0 |
1476 |
|
Dec Nasdaq |
PRD(D) |
2587.50 |
2625.75 |
2639 |
2713 |
2740.5 0 |
2817 |
|
Dec Yen |
D |
124.73 |
125.61 |
125.70 |
126.40 |
127.31 |
128.45 |
|
Dec EC |
PRD(D) |
127.76 |
129.03 |
130.04 |
131.09 |
131.52 |
132.74 |
|
DEC 10 Year |
D |
131.02 |
131.23 |
132.01 |
132.19 |
133.07 |
134.02 |
|
Dec 30 Year |
D |
144.06 |
145.25 |
146.20 |
148.03 |
149.17 |
151.16 |
|
Nov Soybeans |
D |
14.55 |
14.94 |
15.25 |
15.49 |
15.54 |
15.95 |
|
Dec Corn |
U |
7.17 |
7.395 |
7.56 |
7.67 |
7.76 |
7.90 |
|
DEC Gold |
D |
1691.50 |
1706.50 |
1711 |
1740 |
1746 |
1770.50 |
|
Dec Silver |
D |
30.97 |
31.53 |
31.72 |
32.69 |
33.05 |
34.02 |
|
Dec Copper |
D |
353 |
358 |
359 |
371 |
372 |
381 |
|
Nov Crude |
U |
88.12 |
89.30 |
89.25 |
92.55 |
92.66 |
94.72 |
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