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Tuesday, June 12, 2012

ECB Fine Tuning operation saves the market again.

Based on the chart, Dow and S&P500 closed extremely bearish at yesterday's close and it was expected to sell off at today's open. At the same time, ECB carried fine tuning operation on Tuesday. This year most of the time stocks have opened higher or rallied on Tuesday and today was no different. From extremely bearish chart, Dow and S&P500 closed in the bullish zone.

Ideally based on the chart tomorrow, market should open higher but close low. But things does change every second with new rumor from Merkel, ECB or Greece and this could move the market in either direction.

For Bullish sentiment to continue: Dow needs to break 12635 while S&P500 needs to break 1328. 

For Bearish sentiment to continue:  Dow needs to break 12570 while S&P500 needs to break 1318 followed by 1312

In the chart below Red circle represent Bearish sentiment, Blue Circle represent Bullish sentiment.

ECB fine tuning operation caused yet another rally.

5 Day chart of S&P500 shows extreme cases of bullish and bearish opening and closing value.
In Forex Currency trading, Eur/Usd moved from 1.245 to 1.250, Usd/Cad from 1.310 to 1.256 and Aud/Usd moved from 0.9860 to 0.9970

US dollar Currency Index closed at 82.41

CBOE Volatility Index closed down 6.24% at 22.09

Earnings After market Close:CBP, CEDU, CFI, KFY, KFY, LUB, MCZ, SEH

Earning Before Market openCRWS, EEI, PRLS, VIMC

After hours big gainer:SURW, PRSS, MVIS, DELL, OPAY, ONE, ANR, CW, JCP

After hours big loserSMG, DDD, END, CGI, FNP, CASY, PWER, CAVM, CECO, MDVN


Stocks for Option Trading: CAT, XOM, SPY, QQQ, IBM, PCLN, AAPl, WLT, PCX, GOOG, MT.

Economic calendar:

Mortgage Purchase Applications 7:00 AM ET Increase in application is positive for home builder stocks (KBH, HXM, HOV, MTH, RYL, SPF)

Producer Price Index 8:30 AM ET PPI of -0.6% and PPI less food and energy of 0.2% is expected. (Watchout movement in ERX, GLD, AGQ)

Retail Sales 8:30 AM ET  -0.2% is expected (Watchout movement in JCP, KSS, M, SHLD, TGT, GM, F)

Business Inventories 10:00 AM ET 0.3% is expected (Rise in the inventory means GDP will go down) Watchout SPY, DIA movement

EIA Petroleum Status Report 10:30 AM  Rise in inventory is bearish sign, decline in inventory is bullish sign. ( Watchout movement in ERX, XOM, CVX, HAL if your bullish and ERY if your bearish)

Goodluck !

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