Stocks have been rallying for past 8 month on the hope easing from Fed or ECB or any central banker. All the central banker are playing the game with each other and passing things into other hand like a relay race and robo computers takes those word and rally on that basis. Once again, new relay race begins tomorrow, when Fed chairman Ben Bernanke will deliver speech. Suppose he fails to deliver anything concrete tomorrow, then the hope will move to September 6th ECB meeting. If that fails, then hope will move to September 12-13th Fed FOMC meeting and this thing will continue till all the hope ends. September 13th will be last day of the relay race. So don't expect big crash or big rally. Its going to be non event.
Based on the chart, tomorrow market is expected to open lower. If fed disappoints the market, S&P500 will test 1386 and if continues to use same tone that they are ready to take action, S&P500 will move above 1409.
For bullish sentiment to continue, Dow needs to break 13034 and S&P500 needs to break 1405.
For bearish sentiment to continue, Dow needs to break 12966, and S&P500 needs to break 1396.
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| Dow Jones ready to test 12,925 on no qe3 and 13077 on hope of qe3 which is 200 ma. |
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| S&P500 will test 1386 on no QE3 and 1409 on hope of easing which is 200 ma. |
After hour trading:
Economic Calendar:
Earning Watch:
| Percentage Gainers | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Splunk | SPLK | 342,593 | $35.25 | 4.75 | 15.57 | $35.89 | $30.30 | ||
| SAIC | SAI | 310,702 | 13.00 | 1.19 | 10.08 | 14.00 | 11.77 | ||
| OmniVision Technologies | OVTI | 1,478,917 | 17.33 | 1.42 | 8.93 | 17.99 | 14.80 | ||
| Aegerion Pharmaceuticals | AEGR | 6,927 | 14.15 | 0.67 | 4.97 | 14.15 | 13.48 | ||
| AngioDynamics | ANGO | 11,502 | 11.87 | 0.56 | 4.95 | 11.87 | 11.30 | ||
| AMAG Pharmaceuticals | AMAG | 8,006 | 15.38 | 0.66 | 4.48 | 15.38 | 14.72 | ||
| Percentage Decliners | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Zumiez | ZUMZ | 296,207 | $27.70 | -4.52 | -14.03 | $32.60 | $27.54 | ||
| Gordmans Stores | GMAN | 21,697 | 18.00 | -2.67 | -12.92 | 20.70 | 17.50 | ||
| Pacific Sunwear of California | PSUN | 7,900 | 2.32 | -0.06 |
-2.52
|
2.39 | 2.32 | ||
| Accretive Health | AH | 7,196 | 11.68 | -0.24 |
-2.05
|
11.92 | 11.68 | ||
| Ctrip.com International ADS | CTRP | 5,535 | 16.25 | -0.32 |
-1.93
|
16.75 | 16.00 | ||
Economic Calendar:
| Date | Time | Currency | Event | Importance | Actual | Forecast | Previous | Notes |
|---|
Fri
Aug 31 |
 |
USD ICSC Chain Store Sales (YoY) (AUG) | Medium | 1.9% | ||||
|
USD NAPM-Milwaukee (AUG) | Low | 46.7 | |||||
| 01:30 |  |
AUD Private Sector Credit (MoM) (JUL) | Medium | 0.2% | 0.4% | 0.3% | ||
| 01:30 | |
AUD Private Sector Credit (YoY) (JUL) | Medium | 4.2% | 4.4% | 4.4% | ||
| 01:35 |  |
CNY MNI August Business Sentiment Indicator | Low | 47.54 | 49.73 | |||
| 03:00 |  |
NZD Money Supply M3 (YoY) (JUL) | Low | 5.7% | ||||
| 04:00 |  |
JPY Vehicle Production (YoY) (JUL) | Low | 20.3% | ||||
| 05:00 | |
JPY Annualized Housing Starts (JUL) | Medium | 0.857M | 0.837M | |||
| 05:00 | |
JPY Housing Starts (YoY) (JUL) | Medium | -10.3% | -0.2% | |||
| 05:00 | |
JPY Construction Orders (YoY) (JUL) | Low | 4.6% | ||||
| 06:00 |  |
EUR German Retail Sales (YoY) (JUL) | Medium | 0.1% | 2.9% | |||
| 06:00 |  |
GBP Nationwide House Prices n.s.a. (YoY) (AUG) | Medium | -2.2% | -2.6% | |||
| 06:00 | |
EUR German Retail Sales (MoM) (JUL) | Low | 0.2% | -0.1% | |||
| 06:00 | |
GBP Nationwide House Prices s.a. (MoM) (AUG) | Low | 0.1% | -0.7% | |||
| 08:00 | |
EUR Italian Unemployment Rate s.a. (2Q) | Medium | 10.7% | 9.8% | |||
| 08:00 | |
EUR Italian Unemployment Rate s.a. (JUL P) | Low | 10.9% | 10.8% | |||
| 09:00 | |
EUR Euro-Zone Consumer Price Index Estimate (YoY) (AUG) | Medium | 2.5% | 2.4% | |||
| 09:00 | |
EUR Euro-Zone Unemployment Rate (JUL) | Medium | 11.3% | 11.2% | |||
| 12:30 |  |
CAD Gross Domestic Product (YoY) (JUN) | High | 2.2% | 2.4% | |||
| 12:30
LIVE |
|
CAD Quarterly Gross Domestic Product Annualized (2Q) | High | 1.6% | 1.9% | |||
| 12:30 | |
CAD Gross Domestic Product (MoM) (JUN) | Medium | 0.1% | 0.1% | |||
| 13:45 | |
USD Chicago Purchasing Manager (AUG) | Low | 53.5 | 53.7 | |||
| 13:55 | |
USD U. of Michigan Confidence (AUG F) | Medium | 73.6 | 73.6 | |||
| 14:00 | |
USD Fed's Bernanke Speaks at Jackson Hole Economic Policy Symposium | High | |||||
| 14:00 | |
USD Factory Orders (JUL) | Medium | 1.2% | -0.5% | |||
| 15:55 | |
GBP BoE's Haldane on Financial Stability at Jackson Hole Economic Policy Symposium | Low | |||||
| 17:10 | |
GBP BOE's Posen Discusses Monetary Policy at Jackson Hole Economic Policy Symposium | Low | |||||
| 18:30 | |
EUR IMF's Lagarde Speaks at Jackson Hole Economic Policy Symposium | High | |||||
Sat
Sep 1 |
01:00 | |
CNY Manufacturing PMI (AUG) | High | 49.8 | 50.1 |
Earning Watch:
| Symbol | Earning Date | Price Movement | |
|---|---|---|---|
| Last Options Month | Last Earning | ||
| NAV | Sep 03, 2012 | -13.89% | -28.2% |
| BTH | Sep 03, 2012 | +37.39% | +15.68% |
| FRAN | Sep 04, 2012 | +16.54% | +26.62% |
| MW | Sep 05, 2012 | +12.33% | -19.94% |
| PAY | Sep 05, 2012 | +9.79% | -17.33% |
