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CONTACT INFORMATION

You can contact us by sending mail below or you can call toll free:

Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


ADDRESS

United Futures Trading Company, Inc.
9247 Broadway
Suite EE
Merrillville, IN 46410

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Dreaded unemployment day is upon us

11.08.2013

Top Day Market News

The big, dreaded unemployment day is upon us. Something wicked this way comes and it’s the attendant volatility that’s triggered by the jobs number. The consensus number is for an add of just 85 thousand to payrolls. Whisper number is 100K. Also, U of Michigan consumer sentiment at 9:55.

Yesterday’s first estimate of GDP was higher than expected but wasn’t as strong at first blanche as the better number was triggered by an increase in inventories. A reduction is income and spending and an increase in inventories is a negative economic combination.

Although the structure of the market yesterday at 7:45 suggested that there was only a 4% chance that the ECB would cut rates, they, of course, did lower the cost of short term money.  As mentioned in yesterday’s report, the ECB had room and motive to lower rates and with unemployment running at 12% and the strong EC hurting exports, cut they did. It was a minimal shock to the system as the EC fell precipitously and the Yen soared on crosses as the US stock market legged lower. Also, as mentioned yesterday, the fact that the Nasdaq wasn’t keeping pace with the S+P was a sign that a selloff should be expected. Some substantial things happened in the market yesterday, actually noteworthy, but the Twitter IPO served as a distraction to the bigger story.

 

Week of November 04 - November 08

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

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 07

08:30

GDP-Adv.

Q3

 

2.4%

1.9%

2.5%

 

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

1733.50

1765.75

1769

1784

Dec Nasdaq

PRD(D)

3331

3350

3293.50

3366.00

3394

3420

Dec Yen

PRD(U)

100.22

100.74

101.03

102.89

102.21

103.16

Dec EC

D

132.50

133.75

133.04

135.47

167.07

139.36

DEC 10 Year

PRD(U)

125.25

126.09

126.27

127.13

127.21

128.17

Dec 30 Year

PRD(U)

132.09

133.00

133.02

134.03

135.03

136.05

Jan Soybeans

U

12.21

12.31

12.53

12.71

12.80

13.09

Dec Corn

D

4.16

4.24

4.18

4.23

4.36

4.45

DEC Gold

D

1271

1303

1294.30

1324.00

1349

1383

Dec Silver

D

20.82

21.34

21.34

21.98

22.73

23.60

Dec Copper

D

320.50

325

323

327

333

357

Dec Crude

D

92.16

93.03

93.56

95.17

97.49

100.38