US stock market rallied as it was Tuesday and ECB carried out another fine Tuning operation. In last three trading days, Dow Jones Industrial Average (DJIA) is up 488 point (3.9%), S&P500 is up 59 (4.5%) point and Nasdaq is up 154 point (5.5%). For the month, Dow Jones Industrial Average (DJIA) is up 842 point (6.96%), S&P500 is up 95 (7.5%) point and Nasdaq is up 216 point (7.82%). Vix has been down and stocks like UVXY, TVIX are down 63% and VXX is down 36% for the month. Focus will shift on ECB rate cut decision at 7.45 am EST. On a rate cut, market is expected to open higher, no rate cut will lead to sell off but it will stabilise as focus will shift to tomorrow's non farm payroll. If non farm payroll shows, weak number below 100k, then there could be sell off. Watch out movement in GLD, and SLV, AGQ for next couple of days.
Trading Strategy for Jul 5th:For Bullish sentiment to continue: Dow needs to break 12979, while S&P500 needs to break 1377.
|Dow expected to open lower. For bullish sentiment to continue, Dow needs to break 12979 and for bearish sentiment to continue, Dow needs to break 12,869|
|S&P500 is expected to open lower. For bullish sentiment to continue, S&P500 needs to break 1377, for bearish sentiment, S&P500 needs to break 1368.|
After Hours Gainer:
|CHTP||Chelsea Therapeutics I ...||0.90||+0.03||+4.03%||1,200|
|OSUR||OraSure Technologies Inc.||12.45||+0.35||+2.89%||2,250|
|SLW||Silver Wheaton Corp.||29.06||+0.65||+2.29%||100|
Stocks for Day trading: UVXY, XIV, SVXY, TVIX, GLD, TZA, FAS, FAZ, GMCR, NOK, PCX, WLT, ACI, HAL, MT, X, FSLR, TPX, RVBD
Stocks for Option Trading: CAT, XOM, SPY, QQQ, IBM, PCLN, AAPl, WLT, PCX, GOOG, MT.
Upcoming FDA approval : SLXP on July 5th.
|Earning Before Market open|
|COMPANY||EVENT TITLE||EPS ESTIMATE||EPS ACTUAL||PREV. YEAR ACTUAL|
|International Speedway Corp||Q2 2012 International Speedway Corporation Earnings Release||$ 0.40||n/a||$ 0.26|
|Today´s Highlighted Dividends|
|Campbell Soup Co||$0.290||5-Jul||30-Jul||9-Jul||27-Jun|
|McCormick & Company Inc||$0.310||5-Jul||23-Jul||9-Jul||26-Jun|
|8:15 am||ADP employment||June||--||133,000|
|8:30 am||Weekly jobless claims||6-30||386,000||386,000|
|10 am||ISM nonmanufacturing||June||52.9||53.7|
Today's Event (EST):
|6 a.m.||Bank Negara Malaysia decision||3%|
|7 a.m.||Bank of England rate decision||0.5%|
|7 a.m.||Bank of England asset-buy target||GBP325 bln|
|7:45 a.m.||European Central Bank decision||1%|
|8:30 a.m.||ECB press conference|