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Phone: 800.840.5617
Phone: 312.920.0212
Fax: 855.994.4111


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9247 Broadway
Suite EE
Merrillville, IN 46410

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Closer and closer to the cliff

Market News

12.28.12

Top Day Market News

Closer and closer to the cliff. Of course, going over the cliff would trigger $600 billion in tax increases and spending  cuts. Law makers are due to meet with the President today in the Oval Office. Maybe the way this gets done is to instigate action in the Senate and then return it to the House. Volume continues to contract. Combined volume of the three major US exchanges was down to 5.12 million shares yesterday from average of 6.48 billion. VIX is above 20 for the first time since July. Consumer confidence continues to erode.

Chicago Purchasing Managers’ Index out at 9:45 and the Department of Energy numbers regarding supply and demand for crude and its products out at 11, pushed all the way back to Friday due to holiday considerations. 

 

Week of December 24 - December 28

 

Date

 

ET

 

Release

 

For

 

 

Briefing.com Forecast

Briefing.com Consensus

 

Prior

 

 

Dec 26

 

07:00

 

MBA Mortgage Index

 

12/22

 

 

NA

 

NA

 

NA

 

 

Dec 26

 

09:00

 

Case-Shiller 20-city Index

 

Oct

 

 

3.0%

 

3.9%

 

3.0%

 

 

Dec 27

 

08:30

 

Initial Claims

 

12/22

 

 

365K

 

375K

 

361K

 

 

Dec 27

 

08:30

 

Continuing Claims

 

12/15

 

 

3200K

 

3200K

 

3225K

 

                   

 

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com Forecast

Briefing.com Consensus

 

Prior

Revised From

 

Dec 27

 

10:00

 

New Home Sales

 

Nov

 

 

390K

 

379K

 

368K

 

 

Dec 27

 

10:00

 

Consumer Confidence

 

Dec

 

 

68.0

 

70.0

 

73.7

 

 

Dec 27

 

10:30

 

Natural Gas Inventories

 

12/22

 

 

NA

 

NA

 

-82 bcf

 

 

Dec 28

 

09:45

 

Chicago PMI

 

Dec

 

 

51.0

 

51.0

 

50.4

 

 

Dec 28

 

10:00

 

Pending Home Sales

 

Nov

 

 

1.0%

 

1.0%

 

5.2%

 

 

Dec 28

 

11:00

 

Crude Inventories

 

12/21

 

 

NA

 

NA

- 0.964M

 

 

 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

1367

1397

1398.50

1420.00

1452

1476

Mar Nasdaq

 

D

2558

2612

2598.00

2642.00

2716

2767

Mar Yen

 

D

117.51

118.40

115.56

116.88

119.57

120.33

Mar EC

 

U

130.56

131.21

132.09

132.91

132.86

133.86

Mar 10 Year

 

PRD(U)

131.12

131.29

132.15

133.06

132.28

133.10

Mar 30 Year

 

PRD(U)

144.12

145.31

147.11

148.31

148.24

149.30

Mar Soybeans

 

D

13.39

13.84

14.07

14.56

14.87

15.46

Mar Corn

 

D

6.60

6.81

6.885

6.98

7.28

7.55

Feb Gold

 

U

1597

1628

1655.80

1668.00

1696

1734

 

 

 

 

 

 

 

 

Mar Silver

 

PRD(U)

22.78

28.88

29.79

30.60

31.85

33.70

Mar Copper

 

PRD(U)

342

349

356

362

366

376

Feb Crude

 

U

85.29

87.12

90.13

92.17

90.66

92.37

 

 

 

 

 

 

 

 

 News