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Metals rebounded from short term oversold levels on a weaker dollar.

11.06.13

Top Day Market News

Leading Economic Indicators at 10 and crude inventories at 10:30. Overnight, Factory orders in Germany came in stronger than previously forecast. EC was higher on this and on the belief that the ECB will not lower interest rates tomorrow at their regularly scheduled meeting. Metals rebounded from short term oversold levels on a weaker dollar. NOB (notes over bonds) deteriorates down to support which is at 604. Long corn/short wheat continues to look interesting.


 

Week of November 04 - November 08

Date

ET

Release

For

Briefing.com Forecast

Briefing.com Consensus

Prior

Nov 04

10:00

Factory Orders

Aug

0.3%

0.3%

-2.4%

Nov 04

10:00

Factory Orders

Sep

1.5%

1.8%

NA

Nov 05

10:00

ISM Services

Oct

55.0

54.0

54.4

Nov 06

07:00

MBA Mortgage Index

11/02

NA

NA

6.4%

Nov 06

10:00

Leading Indicators

Sep

0.6%

0.6%

0.7%

Nov 06

10:30

Crude Inventories

11/02

NA

NA

4.087

Nov 07

07:30

Challenger Job Cuts

Oct

NA

NA

19.1%

Nov 07

08:30

Initial Claims

11/02

335K

335K

340K

Nov 07

08:30

Continuing Claims

10/26

2875K

2863K

2881K

Nov

08:30

GDP-Adv.

Q3

2.4%

1.9%

2.5%

 

Date

ET

Release

For

Briefing.com Forecast

Briefing.com Consensus

Prior

Nov 07

08:30

Chain Deflator-Adv.

Q3

2.0%

1.4%

0.6%

Nov 07

10:30

Natural Gas Inventories

11/02

NA

NA

38 bcf

Nov 07

15:00

Consumer Credit

Sep

$13.0B

$11.0B

$13.6B

Nov 08

08:30

Nonfarm Payrolls

Oct

85K

100K

148K

Nov 08

08:30

Nonfarm Private  Payrolls

Oct

110K

110K

126K

Nov 08

08:30

Unemployment Rate

Oct

7.4%

7.3%

7.2%

Nov 08

08:30

Hourly Earnings

Oct

0.2%

0.2%

0.1%

Nov 08

08:30

Average Workweek

Oct

34.5

34.4

34.5

Nov 08

08:30

Personal Income

Sep

0.2%

0.2%

0.4%

Nov 08

08:30

Personal Spending

Sep

0.1%

0.2%

0.3%

Nov 08

08:30

PCE Prices - Core

Sep

0.1%

0.1%

0.2%

Nov 08

09:55

Mich Sentiment

Nov

75.0

75.3

73.2


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

D

1732

1743

1751

1770

1769

1784

Dec Nasdaq

U

3331

3350

33660

6410

3394

3420

Dec Yen

PRD(U)

100.22

100.74

101.25

101.77

102.21

103.16

Dec EC

D

132.50

133.75

134.42

135.57

167.07

139.36

DEC 10 Year

D

125.25

126.09

126.09

126.30

127.21

128.17

Dec 30 Year

D

132.09

133.00

132.15

133.25

135.03

136.05

Jan Soybean

U

12.21

12.31

12.44

12.59

12.80

13.09

Dec Corn

D

4.16

4.24

4.23

4.28

4.36

4.45

DECGold

D

1271

1303

1302

1326

1349

1383

Dec Silver

D

20.82

21.34

21.53

21.89

22.73

23.60

Dec Copper

D

320.50

325

324

329

333

357

Dec Crude

D

92.16

93.03

92.66

94.49

97.49

100.38