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Tuesday, July 10, 2012

Talking charts for $DJIA and $SPX for July 11th: $DIA, $SPY, $SH, $SDS

It was a roller coaster day for stock market as Dow, S&P500 and Nasdaq opened higher as ECB conducted another fine tuning operation. As mentioned in all my previous article, market have opened higher or atleast rally on Tuesday, when ECB carries fine tuning operation and rest of the day direction depends on the rumor. Tomorrow, house will vote against Obamacare, so watchout the movement in the following health care : AET, AGP, CERN, CNC, CPSI, HNT, HUM, MDRX, MGLN, MOH, OMCL, QSII, UNH.

At the close, Dow rallied 40 point in last 15 minute, to close negative 83 point for the day after 90 point rally at the open, and making a total loss of 174 point from its peak. In last 5 days, dow is down 218 point but still up 534 point since June 4th, 2012.

At the close, S&P500 rallied 6 point in last 15 minute, to close negative 11 point for the day after 10 point rally at the open, and making a total loss of 20 point from its peak. In last 5 days, S&P500 is down 21 point but still up 64 point since June 4th, 2012.
For Bullish sentiment to continue, Dow needs to break 12,665 followed by 12,722 and S&P500 needs to break 1348.

For Bearish sentiment to continue, Dow needs to 12,632 followed by 12,570 and SPX needs to break 1328.
Dow Jones Industrial Average chart
Dow July 10th chart closed in bullish zone but its expected to open flat tomorrow.

DJIA Chart
Dow monthly chart shows there is more downside.

SPX chart shows bearish sign
SPX Monthly chart, shows there is more downside.
US Economy Calendar
TIME (ET)REPORTPERIODACTUALFORECASTPREVIOUS
8:30 amTrade deficitMay-$48.7 bln-$50.1 bln
10 amWholesale inventoriesMay --0.6%
2 pmFOMC minutes6-22  
Global Economy Calendar
TIME (ET)REPORTPERIODACTUALPREVIOUS
9 p.m.Bank of Korea decision  3.25%
9:30 p.m.Australia unemploymentJun 5.1%

House to vote on repeal of Obama’s health-care law at a time to be announced.

8:30 a.m.: Trade deficit for May, released by the Commerce Department.

10 a.m.: Wholesale inventories for May, released by the Commerce Department.

10 a.m.: House Agriculture Committee votes on 2012 farm bill.

2 p.m.: Minutes from the June 22 meeting of the Federal Open Market Committee, released by the Fed.

Earning Calendar

CompanySymbolPeriodEstimated EPSYear Ago EPSActual EPSTimeDetails
Simulations Plus IncSLP3Q12$ 0.06$ 0.07$Time not supplied-
NorthernTechnologiesInternationalNTICQ3 12$ 0.41$ 0.23$Before market open-
Art`s-Way Manufacturing Co IncARTWQ2 12$ N/A$ N/A$After Market Close-
ADTRAN Inc.ADTNQ2 12$ 0.35$ 0.56$Time not supplied-
PREMIER EXIBITIONS INCPRXIQ1 13$ N/A$ N/A$After market close-
MATERIAL SCIENCES CORPMASCQ1 13$ 0.21$ 0.33$Before Market Open,
Infosys Technologies LtdINFYQ1 12$ 0.73$ 0.67$After Market Close-
Infosys Technologies Ltd500209Q1 12$ 0.73$ 0.67$After Market Close-
Infosys Technologies LtdINFOSYSTCHQ1 12$ 0.73$ 0.67$After Market Close-
Canadian Satellite Radio Holdings Inc.XSR.TOQ3 12$ N/A$ N/A$Before Market Open-
Texas Industries Inc.TXIQ4 12$ -0.34$ -0.57$After market close-
Itron Inc.ITRIQ2 12$ 0.95$ 1.20$Time not supplied-
dragonwave Inc.DRWI1Q13$ -0.28$ -0.28$After market Close-
dragonwave Inc.DWI.TO1Q13$ -0.28$ -0.28$After market Close-
Triangle Petroleum Corp.TPLM.OBQ1 13$ -0.02$ -0.15$Time not supplied-
Triangle Petroleum Corp.TPLMQ1 13$ -0.02$ -0.15$Time not supplied-
Triangle Petroleum Corp.TPE.VQ1 13$ -0.02$ -0.15$Time not supplied-
Marriott International Inc.MARQ2 12$ 0.42$ 0.37$ $After Market Close-

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