The Market Club Updates
Key Events and Commentary available earlier every morning, via The Market Club
KEY EVENTS TO WATCH FOR:
Tuesday, May 5, 2009
7:45 AM ET. May 2 ICSC/Goldman Sachs Chain Store Sales
Chain Store Sales Index – WoW (previous -0.7%)
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Chain Store Sales Index – YoY (previous -1.7%)
8:55 AM ET. May 2 Redbook Index
MoM % Change (previous +1.6%)
12MonChgPct (previous +0.6%)
10:00 AM ET. April ISM Non-Manufacturing Composite Index
Non-Manufacturing PMI (expected 42.5; previous 40.8)
Non-Manufacturing Business Index (previous 44.1)
Prices Index (previous 39.1)
Employment Index (previous 32.3)
New Orders Index (previous 39.1)
4:30 PM ET. May 1 API Oil Industry Report
Crude Stocks (Net Change) (previous +4.58M)
Gasoline Stocks (Net Change) (previous -2.56M)
Distillate Stocks (Net Change) (previous +1.58M)
Refinery Runs (previous 81.5%)
5:00 PM ET. May 2 ABC/Washington Post Consumer Confidence Index (previous –45)
Key Events and Commentary available earlier every morning, via The Market Club
———————————————————————
The June NASDAQ 100 was higher overnight as it extends the rally off March’s low. Stochastics and the RSI are overbought but are bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March’s low, the 38% retracement level of the 2008-2009 decline crossing at 1441.17 is the next upside target. Closes below the 20-day moving average crossing at 1351.25 are needed to confirm that a short-term top has been posted.
First resistance is the overnight high crossing at 1428.25. Second resistance is the 38% retracement level crossing at 1441.17. First support is the 10-day moving average crossing at 1379.12. Second support is the 20-day moving average crossing at 1351.25.
The June NASDAQ 100 was up 2.25 pts. at 1424.75 as of 5:57 AM CST. Overnight action sets the stage for a higher opening by June NASDAQ 100 when the day session begins later this morning.
The June S&P 500 index was slightly higher overnight as it extends the rally off March’s low. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March’s low, January’s high crossing at 937.00 is the next upside target. Closes below the 20-day moving average crossing at 856.14 are needed to confirm that a short-term top has been posted.
First resistance is the overnight high crossing at 904.90. Second resistance is January’s high crossing at 937.00. First support is the 10-day moving average crossing at 868.19. Second support is the 20-day moving average crossing at 856.14.
The June S&P 500 Index was up 0.40 pts. at 903.20 as of 5:58 AM CST. Overnight action sets the stage for a steady to higher opening by the June S&P 500 index when the day session begins later this morning.
Key Events and Commentary available earlier every morning, via The Market Club
Market Club
BlogCatalog – Finance
The contents of this report are for information purposes only.
Currencies Direct
The Market Club Updates
The Market Club Updates
Key Events and Commentary available earlier every morning, via The Market Club
KEY EVENTS TO WATCH FOR:
Tuesday, May 5, 2009
7:45 AM ET. May 2 ICSC/Goldman Sachs Chain Store Sales
Chain Store Sales Index – WoW (previous -0.7%)
I'm a Fan of The Market Club
Chain Store Sales Index – YoY (previous -1.7%)
8:55 AM ET. May 2 Redbook Index
MoM % Change (previous +1.6%)
12MonChgPct (previous +0.6%)
10:00 AM ET. April ISM Non-Manufacturing Composite Index
Non-Manufacturing PMI (expected 42.5; previous 40.8)
Non-Manufacturing Business Index (previous 44.1)
Prices Index (previous 39.1)
Employment Index (previous 32.3)
New Orders Index (previous 39.1)
4:30 PM ET. May 1 API Oil Industry Report
Crude Stocks (Net Change) (previous +4.58M)
Gasoline Stocks (Net Change) (previous -2.56M)
Distillate Stocks (Net Change) (previous +1.58M)
Refinery Runs (previous 81.5%)
5:00 PM ET. May 2 ABC/Washington Post Consumer Confidence Index (previous –45)
Key Events and Commentary available earlier every morning, via The Market Club
———————————————————————
The June NASDAQ 100 was higher overnight as it extends the rally off March’s low. Stochastics and the RSI are overbought but are bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March’s low, the 38% retracement level of the 2008-2009 decline crossing at 1441.17 is the next upside target. Closes below the 20-day moving average crossing at 1351.25 are needed to confirm that a short-term top has been posted.
First resistance is the overnight high crossing at 1428.25. Second resistance is the 38% retracement level crossing at 1441.17. First support is the 10-day moving average crossing at 1379.12. Second support is the 20-day moving average crossing at 1351.25.
The June NASDAQ 100 was up 2.25 pts. at 1424.75 as of 5:57 AM CST. Overnight action sets the stage for a higher opening by June NASDAQ 100 when the day session begins later this morning.
The June S&P 500 index was slightly higher overnight as it extends the rally off March’s low. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March’s low, January’s high crossing at 937.00 is the next upside target. Closes below the 20-day moving average crossing at 856.14 are needed to confirm that a short-term top has been posted.
First resistance is the overnight high crossing at 904.90. Second resistance is January’s high crossing at 937.00. First support is the 10-day moving average crossing at 868.19. Second support is the 20-day moving average crossing at 856.14.
The June S&P 500 Index was up 0.40 pts. at 903.20 as of 5:58 AM CST. Overnight action sets the stage for a steady to higher opening by the June S&P 500 index when the day session begins later this morning.
Key Events and Commentary available earlier every morning, via The Market Club
Market Club
BlogCatalog – Finance
The contents of this report are for information purposes only.