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.
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Week of December 16 - December 20 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
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Dec 16 |
08:30 |
Empire Manufacturing |
Dec |
|
5.0 |
5.0 |
-2.2 |
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|
Dec 16 |
08:30 |
Productivity-Rev. |
Q3 |
|
2.5% |
2.7% |
1.9% |
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|
|
Dec |
08:30 |
Unit Labor Costs |
Q3 |
|
-1.0% |
-1.3% |
-0.6% |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
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16 |
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Dec 16 |
09:00 |
Net Long-Term TIC Flows |
Oct |
|
NA |
NA |
$25.5B |
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Dec 16 |
09:15 |
Industrial Production |
Nov |
|
0.4% |
0.4% |
-0.1% |
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Dec 16 |
09:15 |
Capacity Utilization |
Nov |
|
78.3% |
78.4% |
78.1% |
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Dec 17 |
08:30 |
CPI |
Nov |
|
0.0% |
0.1% |
-0.1% |
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Dec 17 |
08:30 |
Core CPI |
Nov |
|
0.1% |
0.1% |
0.1% |
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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 |
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Dec 18 |
07:00 |
MBA Mortgage Index |
12/14 |
|
NA |
NA |
1.0% |
|
|
Dec 18 |
08:30 |
Housing Starts |
Sep |
|
900K |
915K |
891K |
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Dec 18 |
08:30 |
Housing Starts |
Oct |
|
895K |
920K |
NA |
|
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Dec 18 |
08:30 |
Housing Starts |
Nov |
|
925K |
950K |
NA |
|
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Dec 18 |
08:30 |
Building Permits |
Nov |
|
975K |
983K |
1034K |
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Dec 18 |
10:30 |
Crude Inventories |
12/14 |
|
NA |
NA |
- 10.585M |
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Dec 18 |
14:00 |
FOMC Rate Decision |
Dec |
|
0.25% |
0.25% |
0.25% |
|
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Dec 19 |
08:30 |
Initial Claims |
12/14 |
|
335K |
333K |
368K |
|
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Dec 19 |
08:30 |
Continuing Claims |
12/07 |
|
2750K |
2760K |
2791K |
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Dec 19 |
10:00 |
Existing Home Sales |
Nov |
|
4.98M |
5.00M |
5.12M |
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Dec 19 |
10:00 |
Philadelphia Fed |
Dec |
|
4.0 |
5.0 |
6.5 |
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Dec 19 |
10:00 |
Leading Indicators |
Nov |
|
0.7% |
0.6% |
0.2% |
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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% |
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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
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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 |
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Mar EC |
PRD(D) |
136.30 |
136.80 |
13.21 |
137.11 |
137.90 |
138.60 |
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Mar 10 Year Note |
D |
123.09 |
123.30 |
123.09 |
124.04 |
124.24 |
125.06 |
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Mar 30 Year Bond |
PRD(D) |
128.13 |
129.01 |
128.25 |
130.01 |
130.10 |
130.31 |
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Jan Soybean |
U |
12.89 |
13.08 |
13.10 |
13.29 |
13.49 |
13.72 |
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Mar Corn |
D |
4.14 |
4.20 |
4.266 |
4.32 |
4.35 |
4.46 |
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Feb Gold |
U |
1193 |
1215 |
1177.7 |
1217 |
1263 |
1289 |
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March Silver |
U |
18.60 |
19.13 |
18.89 |
19.69 |
20.33 |
21.00 |
|
March Copper |
U |
319 |
325 |
327 |
332 |
334 |
337 |
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Jan Crude |
U |
90.34 |
94.23 |
98.03 |
99.75 |
99.74 |
101.00 |
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