11.24.2014
Top Day Market News
Welcome to Thanksgiving week, a week traditionally known for its lack of volatility. It’s difficult to be assume that this week will hold true t form, however. Friday saw some violent moves in the currency markets with the unexpected cut in Chinese rates sending the commodity currencies (Canadian and Australian dollar (and Gold) higher while the EC fell precipitously as ECB President Draghi seems more intent than ever on expanding the ECB balance sheet to create inflation. US rates continued to drift lower and the equities continued to grind higher even as trading ranges contract. There are a few warning signs presaging a correction as the Nasdaq underperforms the S+P. (see chart). Friday saw a price rejection and the market could build on this action Monday as there’s a new release vacuum.
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Nov 25 |
08:30 |
GDP - Second Estimate |
Q3 |
|
3.0% |
3.3% |
3.5% |
|
|
Nov 25 |
08:30 |
GDP Deflator - Second Estimate |
Q3 |
|
1.3% |
1.3% |
1.3% |
|
|
Nov 25 |
09:00 |
Case-Shiller 20-city Index |
Sep |
|
4.2% |
4.6% |
5.6% |
|
|
Nov 25 |
09:00 |
FHFA Housing Price Index |
Sep |
|
NA |
NA |
0.5% |
|
|
Nov 25 |
10:00 |
Consumer Confidence |
Nov |
|
96.0 |
96.0 |
94.5 |
|
|
Nov 26 |
07:00 |
MBA Mortgage Index |
11/22 |
|
NA |
NA |
4.9% |
|
|
Nov 26 |
08:30 |
Initial Claims |
11/22 |
|
285K |
286K |
291K |
|
|
Nov 26 |
08:30 |
Continuing Claims |
11/15 |
|
2350K |
2373K |
2330K |
|
|
Nov 26 |
08:30 |
Durable Orders |
Oct |
|
-0.7% |
-0.7% |
-1.3% |
|
|
Nov 26 |
08:30 |
Durable Goods –ex transportation |
Oct |
|
0.3% |
0.5% |
-0.2% |
|
|
Nov 26 |
08:30 |
Personal Income |
Oct |
|
0.5% |
0.4% |
0.2% |
|
|
Nov 26 |
08:30 |
Personal Spending |
Oct |
|
0.3% |
0.3% |
-0.2% |
|
|
Nov 26 |
08:30 |
PCE Prices - Core |
Oct |
|
0.1% |
0.1% |
0.1% |
|
|
Nov 26 |
09:45 |
Chicago PMI |
Nov |
|
65.0 |
63.0 |
66.2 |
|
|
Nov 26 |
09:55 |
Michigan Sentiment - Final |
Nov |
|
90.5 |
89.9 |
89.4 |
|
|
Nov 26 |
10:00 |
New Home Sales |
Oct |
|
450K |
469K |
467K |
|
|
Nov 26 |
10:00 |
Pending Home Sales |
Oct |
|
0.5% |
0.8% |
0.3% |
|
|
Nov 26 |
10:30 |
Crude Inventories |
11/22 |
|
NA |
NA |
2.608M |
|
|
Nov 26 |
12:00 |
Natural Gas Inventories |
11/22 |
|
NA |
NA |
-17 bcf |
|
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 Dow
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 |
2006 |
2033 |
2051 |
2072 |
2080 |
2100 |
|
Dec Nasdaq |
U |
4148 |
4199 |
4229 |
4275 |
4292 |
43334 |
|
Dec Yen |
PRD(U) |
82.62 |
83.75 |
84.14 |
85.25 |
86.32 |
87.76 |
|
Dec EC |
U |
122.29 |
123.09 |
123.20 |
125.13 |
125.37 |
126.85 |
|
Dec 10 Year Note |
U |
125.29 |
126.09 |
126.14 |
126.30 |
127.01 |
127.12 |
|
Dec 30 Year Bond |
U |
140.16 |
141.08 |
141.18 |
142.17 |
142.17 |
143.02 |
|
Jan Soybeans |
U |
9..975 |
10.21 |
10.28 |
10.49 |
10.59 |
10.73 |
|
March Corn |
D |
3.64 |
3.74 |
3.80 |
3.91 |
3.96 |
4.06 |
|
Feb Gold |
PRD(U) |
1161.50 |
1181 |
1187.50 |
1208.50 |
1215.0 |
1228 |
|
Mar Silver |
U |
15.62 |
16.15 |
16.19 |
16.69 |
16.78 |
17.08 |
|
Mar Copper |
U |
293.50 |
198.40 |
299.90 |
306.50 |
307.50 |
312.00 |
|
Jan Crude |
U |
69.73 |
72.82 |
75.47 |
77.68 |
79.40 |
82.89 |
|
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