Monday, October 7, 2013

Morning Prep 10/07/13;

7:30am EST

Focus-Points this morning:
·       US Govt Shutdown enters into its 2nd week
·       No new up-dates as the stand-off between Obama and Boehner continues
·       European Equities hit 1-month low amid US budget stalemate
·       Eurozone Consumer Confidence misses expectations, but still makes 2nd consecutive month in positive territory           
·       Commodity prices continue to slide as global economies struggle with the delay in Washington
·       US Dollar continues to fall lower as the debt deals continue to negotiate in D.C.
·       October 17th is the deadline for the Debt Ceiling debate, this will likely take center-stage this week in the news
·       Overall, market sentiment agrees that the US will find a solution.  Analysts tying to anticipate the ‘when’ and ‘how’

Economic News on the schedule today:

The news calendar is very light this morning in the US session.  Weekend developments or non-developments in Washington are once again certain to dominate the financial markets, and we will be watching for the market personality closely as the opening-bell rings today.

8:00am EST

Crude Oil Levels this morning:
2-Day = Inside Range
VAH 103.88 / VAL 103.44
PHOD 104.19 / PLOD 103.32
Bullish = open > 104.19
Bearish = open < 103.32

Euro Levels this morning:
2-Day = Overlapping Lower (Bearish)
VAH 3609 / VAL 3561
PHOD 3609/ PLOD 3541
Bullish = Open > 3609
Bearish = Open < 3541

Gold Levels this morning:
2-Day = Overlapping Higher (Bullish)
VAH 1315.9 / VAL 1305.9
PHOD 1326.0 / PLOD 1305.1
Bullish = Open > 1326.0
Bearish = Open < 1305.1

Mini-Russell Levels this morning:
2-Day = Inside Range
VAH 1078.1 / VAL 1073.3
PHOD 1078.3 / PLOD 1066.4
Bullish = Open > 1078.3

Bearish = Open < 1066.3

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