11.21.2014
Top Day Market News
Big number yesterday was the Philly Fed at 40.8, a 20 year high. The other sobering factoid of the session was that 2 out of 18 EC countries have inflation rates below 1%. This implies that the EU is trepidatiously looking over the edge and deflation is looking back. It shouldn’t be completely unexpected that the result of the next EC meeting on January 22nd will see full bore QE.
Eurozone Purchasing Manager’s Index was a miss while US home re-sales came in stronger than expected. US core CPI gave a hint of inflationary pressures. Initial jobless claims were better than expected.
Path of least resistance for equities in the run up to Thanksgiving is higher as aggressive sellers withdraw, there’s book squaring and volatility dampens.
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Nov 17 |
08:30 |
Empire Manufacturing |
Nov |
|
12.0 |
12.0 |
6.2 |
|
|
Nov 17 |
09:15 |
Industrial Production |
Oct |
|
0.0% |
0.2% |
1.0% |
|
|
Nov 17 |
09:15 |
Capacity Utilization |
Oct |
|
79.2% |
79.3% |
79.3% |
|
|
Nov 18 |
08:30 |
PPI |
Oct |
|
-0.2% |
-0.2% |
-0.1% |
|
|
Nov 18 |
08:30 |
Core PPI |
Oct |
|
0.1% |
0.1% |
0.0% |
|
|
Nov 18 |
10:00 |
NAHB Housing Market Index |
Nov |
|
54 |
55 |
54 |
|
|
Nov 18 |
16:00 |
Net Long-Term TIC Flows |
Sep |
|
NA |
NA |
$52.1B |
|
|
Nov 19 |
07:00 |
MBA Mortgage Index |
11/15 |
|
NA |
NA |
-0.9% |
|
|
Nov 19 |
08:30 |
Housing Starts |
Oct |
|
1000K |
1025K |
1017K |
|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Nov 19 |
08:30 |
Building Permits |
Oct |
|
1050K |
1040K |
1031K |
1018K |
|
Nov 19 |
10:30 |
Crude Inventories |
11/15 |
|
NA |
NA |
- 1.735M |
|
|
Nov 19 |
14:00 |
FOMC Minutes |
10/29 |
|
|
|
|
|
|
Nov 20 |
08:30 |
Initial Claims |
11/15 |
|
285K |
285K |
290K |
|
|
Nov 20 |
08:30 |
Continuing Claims |
11/08 |
|
2375K |
2375K |
2392K |
|
|
Nov 20 |
08:30 |
CPI |
Oct |
|
-0.2% |
-0.1% |
0.1% |
|
|
Nov 20 |
08:30 |
Core CPI |
Oct |
|
0.1% |
0.1% |
0.1% |
|
|
Nov 20 |
10:00 |
Existing Home Sales |
Oct |
|
5.10M |
5.17M |
5.17M |
|
|
Nov 20 |
10:00 |
Philadelphia Fed |
Nov |
|
15.0 |
18.0 |
20.7 |
|
|
Nov 20 |
10:00 |
Leading Indicators |
Oct |
|
0.6% |
0.6% |
0.8% |
|
|
Nov 20 |
10:30 |
Natural Gas Inventories |
11/15 |
|
NA |
NA |
NA |
|
MARKET PLACE
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 |
U |
2011 |
2028 |
2040 |
2058 |
2048 |
2057 |
|
Dec Nasdaq |
U |
4115 |
4170 |
4215 |
4261 |
4252 |
4281 |
|
Dec Yen |
D |
84.27 |
85.15 |
83.71 |
85.43 |
87.38 |
88.72 |
|
Dec EC |
U |
123.38 |
124.32 |
125.13 |
125.84 |
128.85 |
126.44 |
|
Dec 10 Year Note |
U |
125319 |
126.13 |
126.10 |
126.25 |
127.03 |
127.16 |
|
Dec 30 Year Bond |
U |
139.24 |
140.22 |
141.02 |
142.23 |
142.12 |
143.06 |
|
Jan Soybeans |
U |
9.83 |
10.06 |
10.05 |
10.34 |
10.71 |
11.13 |
|
March Corn |
D |
3.675 |
3.806 |
3.78 |
3.90 |
4.04 |
4.14 |
|
Feb Gold |
D |
1128 |
1157 |
1179 |
1200 |
1205 |
1222 |
|
Mar Silver |
U |
14.84 |
15.57 |
16.01 |
16.37 |
16.70 |
17.10 |
|
Mar Copper |
U |
295.50 |
300 |
299 |
302 |
307.00 |
309.00 |
|
Jan Crude |
PRD(U) |
69.74 |
72.85 |
74.92 |
77.09 |
79.43 |
82.90 |
|
|
|
|
|
|
|
|
|