12.12.2013
Top Day Market News
Sizeable break in the S+P yesterday. The budget agreement was viewed as allowing the Fed to take a step closer to taper. Stood to reason that if there was a government shutdown and no agreement, the Fed would be reluctant to throw salt on the wound in the form of draining liquidity from the system.
Retail sales should be the big number of the day.
Aussie was lower overnight due to firm job creation data coming out of that country. At the same time the Euro Currency continued to grind higher for the seventh consecutive session. To find another time of seven straight advances you have to travel back in time to September of 2009. Meanwhile, in other currency news, speculative shorts in the Yen are at their highest levels since September of 2009.
Chance for an equity collapse is at a low probability without a black swan event trigger as seasonally, December is the lowest volume month of the year.
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Week of December 09 - December 13 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Dec 10 |
10:00 |
Wholesale Inventories |
Oct |
|
0.3% |
0.3% |
0.4% |
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|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Dec 10 |
10:00 |
JOLTS - JobOpenings |
Oct |
|
NA |
NA |
3.913M |
|
|
Dec 11 |
07:00 |
MBA Mortgage Index |
12/07 |
|
NA |
NA |
-12.8% |
|
|
Dec 11 |
10:30 |
Crude Inventories |
12/07 |
|
NA |
NA |
-5.585M |
|
|
Dec 11 |
14:00 |
Treasury Budget |
Nov |
|
NA |
NA |
-172.1B |
|
|
Dec 12 |
08:30 |
Initial Claims |
12/07 |
|
325K |
315K |
298K |
|
|
Dec 12 |
08:30 |
Continuing Claims |
11/30 |
|
2750K |
2750K |
2744K |
|
|
Dec 12 |
08:30 |
Retail Sales |
Nov |
|
0.9% |
0.6% |
0.4% |
|
|
Dec 12 |
08:30 |
Retail Sales ex-auto |
Nov |
|
0.5% |
0.3% |
0.2% |
|
|
Dec 12 |
08:30 |
Export Prices ex-ag. |
Nov |
|
NA |
NA |
-0.4% |
|
|
Dec 12 |
08:30 |
Import Prices ex-oil |
Nov |
|
NA |
NA |
0.0% |
|
|
Dec 12 |
10:00 |
Business Inventories |
Oct |
|
0.3% |
0.3% |
0.6% |
|
|
Dec 12 |
10:30 |
Natural Gas Inventories |
12/07 |
|
NA |
NA |
NA |
|
|
Dec 13 |
08:30 |
PPI |
Nov |
|
-0.1% |
-0.1% |
-0.2% |
|
|
Dec 13 |
08:30 |
Core PPI |
Nov |
|
0.1% |
0.1% |
0.2% |
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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 |
1767 |
1786 |
1761 |
1799 |
1817 |
1828 |
|
Dec Nasdaq |
PRD(D) |
3432 |
3469 |
3449 |
3507 |
3526 |
3547 |
|
Mar Yen |
U |
9577 |
9647 |
97.19 |
97.93 |
9814 |
9911 |
|
Mar EC |
U |
134.58 |
135.77 |
137.48 |
138.18 |
137.62 |
138.28 |
|
Mar 10 Year Note |
D |
122.27 |
123.17 |
124.03 |
124.24 |
125.03 |
126.00 |
|
Mar 30 Year Bond |
U |
126.20 |
127.25 |
128.25 |
130.01 |
130.01 |
131.22 |
|
Jan Soybean |
U |
12.92 |
13.09 |
13.30 |
13.48 |
13.43 |
13.62 |
|
Mar Corn |
U |
4.09 |
4.22 |
4.35 |
4.41 |
4.43 |
4.51 |
|
Feb Gold |
U |
1189 |
1209.5 |
1244 |
1263 |
1250.9 |
1274.1 |
|
March Silver |
U |
18.36 |
18.93 |
20.08 |
20.48 |
20.05 |
20.59 |
|
March Copper |
U |
312 |
318 |
327 |
331 |
328 |
332 |
|
Jan Crude |
U |
93.00 |
94.42 |
96.84 |
98.39 |
99.94 |
101.85 |
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