WEEKLY MARKET DIGEST: NEW PAYROLLS FALL SHORT OF WHISPER NUMBERS, GOLD BOUNCES $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT

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WEEKLY MARKET DIGEST: NEW PAYROLLS FALL SHORT OF WHISPER NUMBERS, GOLD BOUNCES $GLD $SLV $USO $DIA $SPY $QQQ $TBF $TBT

(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )

NEW PAYROLLS FALL SHORT OF WHISPER NUMBERS, GOLD BOUNCES

April 4, 2014

March Nonfarm Private Payroll came at 192K vs. consensus of 205K and whisper numbers of around 250K.

Gold is jumping on the data, inference is that the Fed may maintain QE longer.  In our analysis, the data is not going to change the Fed’s posture and the Fed will continue tapering.

In response to the data interest rates are falling.

Oil is higher.

In early pre-market trading, stocks are marching upwards.

Gold futures are at $1299, silver futures are at $20.16, and oil futures are $101.02.

S&P 500 resistance levels are 1900 and 1925; support levels are 1875, 1850, and 1837.

DJIA futures are up 56 points.

ECB HOLD RATES, GOLD FALLS

April 3, 2014

In spite of inflation dipping to 0.5% compared to a target of 2%, ECB left its main lending rate at 0.25%.  At the press conference, Draghi was very dovish and  disclosed that QE was discussed by the Governing Council.

After yesterday’s bounce, gold is falling again.

Oil is staying under $100.

Interest rates are slightly lower.

In pre-market trading stocks are range bound.

Gold futures are at $1284, silver futures are at $19.73, and oil futures are $99.44.

S&P 500 resistance levels are 1900 and 1925; support levels are 1875, 1850, and 1835.

DJIA futures are up 5 points.

ROAD-BASED GAINS IN EMPLOYMENT, ALL EYES ON FRIDAY

April 2, 2014

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March ADP employment change came at 191K vs. 215K consensus.  ADP is the largest private payroll processor in the U.S.  The data from its customers is used to generate this number ahead of the official employment report to be released by the Department of Labor on Friday.  Even though ADP number was less than the consensus, it shows broad-based gains in employment.

Interest rates are rising due to ADP data.

Stocks were higher in Asia and they are mixed in Europe. In pre-market trading, bulls are trying to run up U. S. stocks again but are meeting some selling unlike the last two days.

Oil is staying under $100 after falling yesterday.

Gold is staging a bounce that appears to be a reaction to oversold condition.

Gold futures are at $1291, silver futures are at $20.01, and oil futures are $99.37.

S&P 500 resistance levels are 1900 and 1925; support levels are 1850, 18837, and 1825.

DJIA futures are up 24 points.

MOMENTUM CONTINUES

April 1, 2014

Positive momentum from yesterday continues in stocks.  Stocks are close to resistance, let us see how they behave.

Interest rates are spiking higher.

Gold and oil are range bound.

Gold futures are at $1285, silver futures are at $19.77, and oil futures are $101.22.

S&P 500 resistance levels are 1875, 1900, and 1925; support levels are 1850, 1837, and 1825.

DJIA futures are up 53 points.

END OF THE QUARTER WINDOW DRESSING

March 30, 2014

In the pre-market trading bulls are solidly in charge.  During the day, expect cross currents due to quarter-end window dressing.

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Interest rates are rising.

Oil is slightly pulling back.

Gold is range bound.

Gold futures are at $1292, silver futures are at $19.84, and oil futures are $101.51.

S&P 500 resistance levels are 1875, 1900, and 1925; support levels are 1850, 1837, and 1825.

DJIA futures are up 84 points.

 

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