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Thursday, August 9, 2012

Directionless stock market now ready for sell off.

After holding gain for 4 days, Dow, S&P500 and Nasdaq are now ready for sell off. Behind the scene,
U.S. regulators have directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help. Its time to keep FAZ, VXX in your watchlist. Remember Italy needs to make 10 B payment on August 15th and Greece needs to make 3.2B payment on August 20th. 

For bearish sentiment to continue, Dow needs to break 13,187 followed by 13,220 and S&P500 needs to break 1406.30
For bullish sentiment to continue, Dow needs to break 13,117 followed by 13,065 and s&P500 needs to break 1398.53 followed 1392. All the chart in this site is applicable to S&P500.

Dow ready for sell off but it doesnt mean it will crash. 13117 is first major support  level to watch, if it breaks 13,065  is next support level to watch.
Dow 3 month chart shows how it bounced back at each of the support level.
high frequency trading
Unusual activity in Dow Jones at the open thanks to algos.

Unusual activity in Dow Jones at the close thanks to algos.

Economic Calendar
8:30 amImport price indexJuly0.0%-2.7%
2 pmFederal budgetJuly---$60 bln

Global Economic Calendar
4:30 a.m.Hong Kong GDP, year-on-yearQ20.4%

After hour percentage gainer and loser
Percentage Gainers
IssueSymbolVolumeLastChg% ChgHighLow
Fusion-ioFIO1,959,068$26.505.48 26.07$27.30$20.60
Bally TechnologiesBYI18,58846.004.01 9.5546.0041.00
51job ADSJOBS5,50339.032.59 7.1139.2936.30
Turquoise Hill ResourcesTRQ32,0009.430.44 4.899.439.07
SMTCSMTX29,3353.300.15 4.763.393.20
NVIDIANVDA1,523,76515.350.64 4.3515.7114.36
Zillow Cl AZ6,19239.421.61 4.2639.4237.8
Percentage Decliners
IssueSymbolVolumeLastChg% ChgHighLow
Ubiquiti NetworksUBNT737,456$10.02-4.99-33.24 $15.01$10.02
CodexisCDXS8,3062.70-0.40-12.90 3.192.70
Spreadtrum CommunicationsSPRD61,22017.00-2.36-12.19 19.3616.80
RoundysRNDY8,2649.03-1.20-11.73 10.239.00
PegasystemsPEGA24,02124.50-2.52-9.33 27.7523.50
Amtech SystemsASYS5,8003.80-0.31-7.54 4.113.68
Digital GenerationDGIT95,07710.40-0.80-7.14 11.2310.02
Scotts Miracle-GroSMG12,92538.55-2.84-6.86 38.6637.50
Monster BeverageMNST637,52358.26-2.94-4.80 62.4957.25

Notable earnings before Friday’s open: BAMCLDXJCPXIN