Top alert for 2014: MYGN (50%), LIVE (45%), CTIC (115%), KOOL (88%), PZG (32%), GOLD (6%), IOC (6%), RSOL(18%), PLUG (70%), IMMU (26%)

Tuesday, April 24, 2012

Technical Level for Dow and S&P500 for April 25th

As expected as I said in my yesterday post, ECB stepped in to rescue this market again and that's why market was up today and not because of earning. To learn more about ECB open market operation check out  ad hoc communication.  Stocks are up on the tender date so check out next Tuesday if ECB will print money again. You can check my earlier post  Also Spain 10 year yield is under 6 and right now at 5.86% 

The result of FOMC will be out tomorrow at 12.30 EST. Ben Bernanke will be giving speech at 14.15 EST. Any hint of no QE3 would mean GOLD and Silver will sell off so keep bearish etf like (Gold short) GLL, (Silver short) ZSL in your watchlist.  Also check out bullish ETF of gold and silver like GLD, IAU, UGL, AGQ.

Dow and S&P500 looks bullish for tomorrow because of the late rally at the close. The first level to check in Dow for upside is 13078 followed by 13135 which is important break point for the upside. While for the downside, Dow needs to break 12973 followed by 12940.

The first level to check for tomorrow in S&P500 for upside is 1374 followed by 1382 which is important break point for the upside. While for the downside, S&P500 needs to break 1369 followed by 1360. Use technical indicator 20 (simple moving average) sma and 50 sma to better visualise uptrend or downtrend of this manipulated market. If 20 sma crosses 50 sma and 20 sma is up, then the stocks will go higher, if 50 sma crosses 20 sma and if 50 sma is up, then stocks will go lower. 
A gap up from futures made sure stock carried it yesterdays bullish sentiment. A late rally at the close made sure stock will again open higher tomorrow

1 month chart of Dow is now in bullish zone Because of today's leg up where it could it 13200

Leg up in S&P500 made sure it was in bullish zone and a late rally made sure bullish sentiment will continue tomorrow till fomc minute is out.

1 Month chart of S&P500 is back to bullish zone.
MBA Purchase Applications
7:00 AM ET

Durable Goods Orders (New order of -1.5% is expected previous month was 2.2% while ex transportation expectation is 0.4% while previous month was 1.6%, higher will be bullish sign while lower will be bearish sign for stock market) 8:30 AM ET

EIA Petroleum Status Report (A built up in inventory will be bearish news, a decline in inventory is bullish news)10:30 AM ET

FOMC Meeting Announcement 12:30 PM ET

Chairman Press Conference 2:15 PM ET

Earning to focus before market opens: ABB, AN, BA, ARMH, CAJ, CAT, GLW, CS, DPS LLY, GD, GSK, HOG, LO, MSI, ROK, WYN, LCC, TMO, S, SIX, SIFY, SI
Earning to focus after market close: akam, acom, bvsn, crus, cake, IDCC, LVS, LOGI, NEU, RA, TQNT, XLNX
For Long term keep SNDK, PCX, RVBD, INFY, NOK in your watchlist.
For day trading watchout BIDU, AAPL, PCLN, MA, FAS, FAZ, TZA, TNA, TVIX, XIV, SVXY, UVXY (remember volatility is not a long term investment option use it for strictly day trading).
FOMC meeting is a game changer at 12.30 EST so be careful with your investment. Wait for it to happen and then initiate new investment after 2.30 EST.

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