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Phone: 312.920.0212
Fax: 855.994.4111


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9247 Broadway
Suite EE
Merrillville, IN 46410

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Gold’s close on Thursday was the lowest since August of 2010

12.20.2013

Top Day Market News

Well, it seems as though one market isn’t too happy about tapering. Gold’s close on Thursday was the lowest since August of 2010. Other notable levels are being reached as well. The dollar/Canadian dollar is at a three-year high while the dollar/yen is at a five-year high. All this dollar strength of course ways on metals considerably and now we have gold trading under $1200 for the first time in three years. It’s not all coincidence, probably, after all. The Federal Reserve’s resolve to keep short-term rates at or near zero has more than gently encouraged this. They have wanted to create a stock market like the market we are looking at currently.  Higher equity values were the idea, the vehicle to get a trickledown effect by repairing banks balance sheets and creating employment. Will these trends continue in the New Year? Will unintended consequences appear? We’ll address this on January 3rd.

GDP upwardly revised. Triple witching day. BOJ leave rates unchanged.


 

Week of December 16 - December 20

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Dec 16

08:30

Empire Manufacturing

Dec

 

5.0

5.0

-2.2

 

Dec 16

08:30

Productivity-Rev.

Q3

 

2.5%

2.7%

1.9%

 

Dec

08:30

Unit Labor Costs

Q3

 

-1.0%

-1.3%

-0.6%

 

                   

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

16

 

 

 

 

 

 

 

 

Dec 16

09:00

Net Long-Term TIC Flows

Oct

 

NA

NA

$25.5B

 

Dec 16

09:15

Industrial Production

Nov

 

0.4%

0.4%

-0.1%

 

Dec 16

09:15

Capacity Utilization

Nov

 

78.3%

78.4%

78.1%

 

Dec 17

08:30

CPI

Nov

 

0.0%

0.1%

-0.1%

 

Dec 17

08:30

Core CPI

Nov

 

0.1%

0.1%

0.1%

 

Dec 17

08:30

Current Account Balance

Q3

 

-$101.0B

-$101.0B

-$98.9B

 

Dec 17

10:00

NAHB Housing Market Index

Dec

 

55

55

54

 

Dec 18

07:00

MBA Mortgage Index

12/14

 

NA

NA

1.0%

 

Dec 18

08:30

Housing Starts

Sep

 

900K

915K

891K

 

Dec 18

08:30

Housing Starts

Oct

 

895K

920K

NA

 

Dec 18

08:30

Housing Starts

Nov

 

925K

950K

NA

 

Dec 18

08:30

Building Permits

Nov

 

975K

983K

1034K

 

Dec 18

10:30

Crude Inventories

12/14

 

NA

NA

- 10.585M

 

Dec 18

14:00

FOMC Rate Decision

Dec

 

0.25%

0.25%

0.25%

 

Dec 19

08:30

Initial Claims

12/14

 

335K

333K

368K

 

Dec 19

08:30

Continuing Claims

12/07

 

2750K

2760K

2791K

 

Dec 19

10:00

Existing Home Sales

Nov

 

4.98M

5.00M

5.12M

 

Dec 19

10:00

Philadelphia Fed

Dec

 

4.0

5.0

6.5

 

Dec 19

10:00

Leading Indicators

Nov

 

0.7%

0.6%

0.2%

 

Dec 19

10:30

Natural Gas Inventories

12/14

 

NA

NA

-81 bcf

 

Dec 20

08:30

GDP - Third Estimate

Q3

 

3.7%

3.6%

3.6%

 

Dec 20

08:30

GDP Deflator - Third  Estimate

Q3

 

2.0%

2.0%

2.0%

 


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

Mar ES

D

1745

1766

1789.50

1813.00

1789

1825

Mar Nasdaq

D

3402.25

3443

3460

3529

3504

3552

Mar Yen

U

95.38

96.17

95.54

96.66

97.85

98.74

Mar EC

PRD(D)

136.30

136.80

13.21

137.11

137.90

138.60

Mar 10 Year Note

D

123.09

123.30

123.09

124.04

124.24

125.06

Mar 30 Year Bond

PRD(D)

128.13

129.01

128.25

130.01

130.10

130.31

Jan Soybean

U

12.89

13.08

13.10

13.29

13.49

13.72

Mar Corn

D

4.14

4.20

4.266

4.32

4.35

4.46

Feb Gold

U

1193

1215

1177.7

1217

1263

1289

March Silver

U

18.60

19.13

18.89

19.69

20.33

21.00

March Copper

U

319

325

327

332

334

337

Jan Crude

U

90.34

94.23

98.03

99.75

99.74

101.00