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Wednesday, July 11, 2012

Talking chart for DOW, S&P500 for July 12th, 2012

It was a yet another roller coaster day in the stock market. Dow sold off 120 points after Federal Open Market Committee (FOMC) minute but it recovered 70 in last hour to close at 12,604 down 49 point. In last 5 days, dow is down 275 point but still up 485 point since June 4th, 2012.

S&P500 was bullish at open and remained flat most of the day. After Federal Open Market Committee (FOMC) minute, S&P500 sold of 10 point and then recovering 12 point in last hour to close flat for the day.

Market is expected to open lower to flat tomorrow and rest of the day depends on the rumor out of Europe.

For Bullish sentiment to continue, Dow needs to break 12,665 and S&P500 needs to break 1344.

For Bearish sentiment to continue, Dow needs to 12,570 and S&P500 needs to break 1338.

Tips: Don't chase stock in a directionless low volume market.

If 1338 resistance is broken, S&P500 could fall in 1298 - 1328 window range.

1 month chart of S&P500 is still in bearish zone, next few days are crucial for US stock market. JPM earning is most important thing to watch on Friday 

Dow chart shows there is more downside if it breaks 12,570 level. The next window range is 12,250 - 12570.
Earning Calendar for July 12th.

CompanySymbolPeriodEstimated EPSYear Ago EPSActual EPSTimeDetails
Frequency Electronics Inc.FEIMQ4 12$ N/A$ -0.02$After market close-
Theratechnologies Inc.THER2Q12$ N/A$ N/A$Before Market Open-
Commerce Bancshares Inc.CBSHQ2 12$ 0.72$ 0.75$Time not supplied-
HOME LOAN SERVICING SOLUTIONS, LTD.HLSSQ2 12$ 0.32$ N/A$Time not supplied-
CERES, INC.CEREQ3 12$ -0.33$ N/A$After Market Close-
TRINITY BIOTRIBQ2 12$ 0.19$ 0.17$Time Not Supplied,
Wireless Matrix Corp.WRX.TOQ4 12$ N/A$ N/A$Before market open-
Emmis Communications CorpEMMSQ1$ N/A$ N/A$Before Market Open-
AngioDynamics Inc.ANGOQ4 12$ 0.09$ 0.11$After market close-
Bank of the Ozarks, IncOZRKQ2 12$ 0.52$ 1.46$After Market Close,
NovaGold Resources JNG.TOQ2 12$ N/A$ N/A$Before Market Open,
Astral Media Cl A NVACM_A.TO3Q12$ 1.02$ 0.87$Time Not Supplied-
Astral Media Cl A NVAAIAF.PK3Q12$ 1.02$ 0.87$Time Not Supplied-
Resources Connection Inc.RECNQ4 12$ 0.15$ 0.09$After Market Close,
Corus Entertainment IncCJREF.PKQ3 12$ N/A$ N/A$Time Not Supplied,
Corus Entertainment IncCJR-B.TOQ3 12$ N/A$ N/A$Time Not Supplied,
Fastenal Co.FASTQ2 12$ 0.37$ 0.32$Before market open-
Cogeco Cable Inc.CCA.TOQ3 12$ N/A$ N/A$Time not Supplied-
COGECO Inc.CGO.TOQ3 12$ N/A$ N/A$Time not Supplied-
US Economic Calendar
8:30 amWeekly jobless claims7-7365,000374,000
8:30 amImport price indexJune-1.9%-1.0%
2 pmFederal budgetJune---$43 bln

Global Economic Calendar
Bank of Japan decision0%-0.1%
5 a.m.Euro-zone industrial productionMay-0.8%
6 a.m.Greek unemploymentApr21.9%
10 p.m.China GDPQ28.1%

Percentage Gainers
IssueSymbolVolumeLastChg% ChgHighLow
Complete GenomicsGNOM483,7233.
MEMC Electronic MaterialsWFR27,8422.370.08 3.492.372.27
Royal GoldRGLD20,76675.602.28 3.1175.6072.47
HexcelHXL9,47325.280.73 2.9725.2824.55
Percentage Decliners
IssueSymbolVolumeLastChg% ChgHighLow
SupervaluSVU1,143,464$3.90-1.39-26.28 $6.08$3.80
CalixCALX268,3875.05-1.43-22.07 7.214.68
XyratexXRTX12,40011.00-0.40-3.51 11.5711.00
Sprott Physical Silver TrustPSLV91,90011.09-0.39-3.40 11.4910.90
ImmunogenIMGN83,66516.80-0.56-3.23 17.3616.31
James River CoalJRCC13,0772.25-0.07-3.02 2.312.25