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* Equities: Driven by Trump or Macroeconomics?
- 17 Jan 2017
- By Erik Norland
- Topics: Equity Index
Since Election Day on Nov. 8, stocks have been on a tear. However, not all sectors have performed equally well. The best performers have been the financial, energy, industrial, and materials sectors. Others, notably utilities and consumer staples, have lagged (Figure 1).
The powerful post-election sector rotation has given rise to the notion that highly-regulated industries have outperformed, perhaps in part, because markets anticipate a lighter regulatory touch by the incoming administration that will benefit them. While this narrative may contain some truth, our research indicates that it is far from being a complete explanation.
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Levels for Trade Date of 01.24.2017
| Contract March 2017 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2284.67 | 5118.42 | 19888 | 1370.73 | 101.21 |
| Resistance 2 | 2276.08 | 5094.08 | 19829 | 1362.77 | 100.98 |
| Resistance 1 | 2268.92 | 5078.92 | 19783 | 1354.93 | 100.56 |
| Pivot | 2260.33 | 5054.58 | 19724 | 1346.97 | 100.33 |
| Support 1 | 2253.17 | 5039.42 | 19678 | 1339.13 | 99.91 |
| Support 2 | 2244.58 | 5015.08 | 19619 | 1331.17 | 99.68 |
| Support 3 | 2237.42 | 4999.92 | 19573 | 1323.33 | 99.26 |
| Contract | Feb. Gold | March Silver | Mar. Crude Oil | Mar. Bonds | March Euro |
| Resistance 3 | 1230.9 | 17.51 | 54.75 | 154 18/32 | 1.0841 |
| Resistance 2 | 1225.1 | 17.40 | 54.11 | 153 17/32 | 1.0809 |
| Resistance 1 | 1220.5 | 17.30 | 53.49 | 152 22/32 | 1.0789 |
| Pivot | 1214.7 | 17.19 | 52.85 | 151 21/32 | 1.0757 |
| Support 1 | 1210.1 | 17.09 | 52.23 | 150 26/32 | 1.0737 |
| Support 2 | 1204.3 | 16.98 | 51.59 | 149 25/32 | 1.0705 |
| Support 3 | 1199.7 | 16.88 | 50.97 | 148 30/32 | 1.0685 |
| Contract | March Corn | March Wheat | Mar. Beans | March SoyMeal | Feb. Nat Gas |
| Resistance 3 | 372.6 | 441.4 | 1072.33 | 356.17 | 3.45 |
| Resistance 2 | 371.2 | 437.6 | 1068.42 | 352.83 | 3.36 |
| Resistance 1 | 370.3 | 435.4 | 1063.08 | 348.17 | 3.32 |
| Pivot | 368.9 | 431.6 | 1059.17 | 344.83 | 3.23 |
| Support 1 | 368.1 | 429.4 | 1053.8 | 340.2 | 3.2 |
| Support 2 | 366.7 | 425.6 | 1049.92 | 336.83 | 3.10 |
| Support 3 | 365.8 | 423.4 | 1044.58 | 332.17 | 3.05 |
All times are Eastern time Zone (EST)
source:http://www.forexfactory.com/calendar.php
| Date | 3:35pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueJan 24 | 3:00am | EUR |
French Flash Manufacturing PMI
|
53.4 | 53.5 | ||||
| EUR |
French Flash Services PMI
|
53.2 | 52.9 | ||||||
| 3:30am | EUR |
German Flash Manufacturing PMI
|
55.5 | 55.6 | |||||
| EUR |
German Flash Services PMI
|
54.6 | 54.3 | ||||||
| 4:00am | EUR |
Flash Manufacturing PMI
|
54.8 | 54.9 | |||||
| EUR |
Flash Services PMI
|
53.9 | 53.7 | ||||||
| 4:30am | GBP |
EU Membership Court Ruling
|
|||||||
| GBP |
Public Sector Net Borrowing
|
6.7B | 12.2B | ||||||
| 9:45am | USD |
Flash Manufacturing PMI
|
54.6 | 54.3 | |||||
| 10:00am | USD |
Existing Home Sales
|
5.54M | 5.61M | |||||
| USD |
Richmond Manufacturing Index
|
7 | 8 |