11.05.2014
Top Day Market News
Oil continued lower yesterday as demand contracts and supply increases. Demand side contraction is seen as a potential negative for the broader market. The source of the problem is the supply side as OPEC refuses to cut production. Both ES and NASDAQ both traded outside daily support levels and ES could reverse its intermediate trend with a lower close on Wednesday.
Canadian dollar hit a five year low. Overnight, Republicans gain control of the Senate and stocks are higher. Mid year election rallies are common so we’ll see how much of that is already baked into prices. The dollar continues higher against all counterparts. ADP private jobs forecast out at 8:15. Street is looking for 220K add.
Ruble at a record low as Russia steps back form intervention. Service sector readings in UK are at a 17 month low and British is lower because of it.
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Nov 05 |
08:15 |
ADP Employment Change |
Oct |
|
235K |
220K |
213K |
|
|
Nov 05 |
10:00 |
ISM Services |
Oct |
|
58.0 |
58.0 |
58.6 |
|
|
Nov 05 |
10:30 |
Crude Inventories |
11/01 |
|
NA |
NA |
2.061M |
|
|
Nov 06 |
07:30 |
Challenger Job Cuts |
Oct |
|
NA |
NA |
-24.4% |
|
|
Nov 06 |
08:30 |
Initial Claims |
11/01 |
|
290K |
285K |
287K |
|
|
Nov 06 |
08:30 |
Continuing Claims |
10/25 |
|
2375K |
2380K |
2384K |
|
|
Nov 06 |
08:30 |
Productivity-Prel |
Q3 |
|
1.5% |
1.4% |
2.3% |
|
|
Nov 06 |
08:30 |
Unit Labor Costs |
Q3 |
|
1.0% |
0.9% |
-0.1% |
|
|
Nov 06 |
10:30 |
Natural Gas Inventories |
11/01 |
|
NA |
NA |
87 bcf |
|
|
Nov 07 |
08:30 |
Nonfarm Payrolls |
Oct |
|
275K |
235K |
248K |
|
|
Nov 07 |
08:30 |
Nonfarm Private Payrolls |
Oct |
|
250K |
228K |
236K |
|
|
Nov 07 |
08:30 |
Unemployment Rate |
Oct |
|
6.0% |
5.9% |
5.9% |
|
|
Nov 07 |
08:30 |
Hourly Earnings |
Oct |
|
0.2% |
0.2% |
0.0% |
|
|
Nov 07 |
08:30 |
Average Workweek |
Oct |
|
34.6 |
34.6 |
34.6 |
|
|
Nov 07 |
15:00 |
Consumer Credit |
Sep |
|
$12.0B |
$16.0B |
$13.5B |
|
Numbers below 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
Support and Resistance Grid
|
|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Dec ES |
PRD(D) |
1917 |
1963 |
1995 |
2023 |
2018 |
2062 |
|
Dec Nasdaq |
U |
3951 |
4041 |
4120 |
4187 |
4200 |
4259 |
|
Dec Yen |
D |
86.27 |
88.30 |
87.57 |
88.35 |
91.69 |
94.35 |
|
Dec EC |
D |
123.10 |
124.18 |
124.54 |
125.97 |
127.04 |
128.22 |
|
Dec 10 Year Note |
D |
125.17 |
125.30 |
125.31 |
126.17 |
127.00 |
127.21 |
|
Dec 30 Year Bond |
D |
139.16 |
140.00 |
140.17 |
141.24 |
142.01 |
143.02 |
|
Jan Soybe ans |
PRD(D) |
9.41 |
9.95 |
9.89 |
10.65 |
10.81 |
11.13 |
|
Dec Corn |
PRD(D) |
3.36 |
3.56 |
3.58 |
3.70 |
3.99 |
4.01 |
|
Dec Gold |
D |
1114.80 |
1144 |
1157 |
1174 |
1219 |
1264 |
|
Dec Silver |
D |
14.63 |
15.40 |
15.74 |
16.11 |
17.16 |
18.16 |
|
Dec Copper |
U |
297.60 |
301.40 |
296 |
303 |
310.20 |
315.10 |
|
Dec Crude |
D |
77.52 |
78.13 |
74.62 |
78.54 |
82.50 |
84.44 |
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