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Tuesday, August 14, 2012

Eurozone on the verge of double dip recession.

The troubled eurozone is on the verge of sliding into a double-dip recession after GDP showed that its economy shrank further while UK is already in double dip recession. One would have anticipated market to sell off but it didn't happened. Because of the ECB's fine tuning operation, stock market opened higher with  Dow jones rallying 52 point, S&P500 rallying 12 point and Nasdaq rallying up 14 point. At the close, Dow Jones was up 2.71 point, S&P500 was down 0.18 point and Nasdaq was down 5.54 point. The sole reason which is preventing this market from sell off is robo computer program along with FED and ECB.
Euro zone double dip reession
US, Euro zone quarterly Q2 GDP 
For bullish sentiment to continue, Dow needs to break 13,191 and S&P500 needs to break 1406.53
For bearish sentiment to continue, Dow needs to break 13,144 and S&P500 needs to break 1398.
S&P500, Dow are expected to open lower but 13191, and 1406.6 are key resistance on the upside and a bullish sign. If market is able to close below this level at the close, it will be first bearish sign.

Safe zone for notable stocks

UVXY is a buy above 5.47 but sell below 5.27
TVIX is a buy above 2.65 but sell below 2.55
AAPL is a buy above 632 but sell below 626
GOOG is a buy above 687 but sell below 683.
GLD is a sell below 155.19 but a buy above 155.50
AGQ is a buy above 38.65 but a sell below 38.20

Economic Calendar
8:30 amConsumer price indexJuly0.2%0.0%
8:30 amCore CPIJuly0.2%0.2%
8:30 amEmpire state indexAug.6.07.4
9:15 amIndustrial productionJuly0.6%0.4%
10 amHome builders' indexAug.--35

After hour percentage gainer and loser
Percentage Gainers
IssueSymbolVolumeLastChg% ChgHighLow
Vitesse SemiconductorVTSS25,200$2.990.39 15.00$2.99$2.30
Renewable Energy GroupREGI14,0515.050.35 7.455.224.70
GOL Linhas Aereas Inteligentes ADSGOL55,4345.050.29
SynacorSYNC8,9668.260.36 4.568.267.85
Arena PharmaceuticalsARNA693,6368.540.28 3.398.757.88

Percentage Decliners
IssueSymbolVolumeLastChg% ChgHighLow
KIT digitalKITD28,814$2.86-0.14-4.67 $3.15$2.80
EnergySolutionsES11,9332.10-0.08-3.67 2.262.10
Ellington FinancialEFC25,76022.60-0.79-3.38 23.2822.37
ACCO BrandsACCO23,7366.55-0.21-3.11 6.976.55
RentechRTK5,5402.13-0.05-2.29 2.182.12