Archive for ‘economic data’

Daily Pivots

By , 21 August, 2009, No Comment
ESU9
For 08/21/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1010.25 1015.75 1002.25 996.75 988.75

William Dudley Speaks
8:00 AM ET

Ben Bernanke Speaks
10:00 AM ET

Stock futures rose moderately Friday, pointing to a higher open on Wall Street as investors await a speech from Federal Reserve Chairman Ben Bernanke.

Traders will be looking to Bernanke's speech for insight into a potential economic rebound.

During an annual Fed conference in Jackson Hole, Wyoming, Bernanke is expected to talk about the past year's financial crisis and could provide clues about how the Fed will eventually withdraw trillions of dollars in aid used to support the economy.

Withdrawing that support too soon could hinder any recovery. But, waiting too long could lead to rapid inflation.

A report on existing home sales could also provide direction for investors. Sales have shown signs of life in recent months, raising hopes for a recovery for the overall economy. The National Association of Realtors is expected to report existing home sales rose for the fourth consecutive month in July.

July's sales are forecast to rise 2.2 percent to a seasonally adjusted annual rate of 5 million, from 4.89 million in June, according to economists polled by Thomson Reuters.

The report is due out at 10 a.m. EDT (1400 GMT)

Todays Pivot and Economic Data

By , 20 August, 2009, No Comment

Several interesting announcements today which should have the markets attention. The jobless report will be, as always, closely watched, though the reaction to both good and bad reports has been anything but predictable. With some potential wide swings in the morning trades there might well be some interesting possibilities for some ambush trades to develop.

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Todays Market Info and Pivots

By , 18 August, 2009, No Comment
ESU9
For 08/18/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 996.50 1014.75 986.00 967.75 957.25
Housing Starts
[Report][Star]8:30 AM ET
Redbook
[Bullet8:55 AM ET

Todays Pivot, Fed Announcements, and Commentary

By , 17 August, 2009, No Comment
ESU9
For 08/17/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1016.92 1028.08 1004.58 993.42 981.08

Todays Economic Announcements

No major economic reports are on tap this morning, but there are two pieces of data which usually draw some market interest.The Empire State Manufacturing Index – a measure of manufacturing activity in New York State – is out at 8:30 am New York time, while the National Association of Home Builders issues its Housing Market Index at 1 pm, measuring sentiment in the home building industry.

We’ll also see some numbers that don’t usually draw the spotlight but nonetheless have the potential to be influential: the Treasury issues its so-called “TIC” data at 9 am, which reflect exactly how much investment money is flowing into – or out of – the United States.Throughout the day, credit card issuers will be out with their monthly “master trust” data, which provide up-to-date numbers on delinquencies for each issuer.

Health care stocks could be worth watching, as the Obama Administration signals that it may be ready to give up the idea of a public option for people seeking health insurance.

Pivots and Fed Announcements

By , 14 August, 2009, No Comment
ESU9
For 08/14/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1019.83 1026.17 1008.92 1002.58 991.67

Fed and Fed Agency Announcements

S

Some good stuff in the offing today, though I doubt it will have the effect of yesterdays early morning roller coaster.  The central theme in the market has, and will continue to be, where we are in terms of a recovery in the current recession.   I suppose I expect to see, in the coming months, a series of fits and starts.  That is, the recession will not suddenly disappear, but some indicators will indicate progress, and some indicators will indicate regression in digging out of the recession hole.  Best of trading to all.

ES Emini Trading and Spectacular Movement Today

By , 13 August, 2009, No Comment

You have often read my admonitions about hanging in the markets around 7:30am, especially when there are some important Fed announcements in the offing. Many times, the action can be so fast that you will end up blowing straight through your stops. Check out the market movement at 7:30 this morning and be glad you weren’t long:

disaster on the ES emini chart in pre market trading

disaster on the ES emini chart in pre market trading

The market cliff dove, and blasted its way downward. This is a 5-minute chart and most of the movement came in the first minute.  Now for the rest of the day:

ES emini action during trading hours

ES emini action during trading hours

The market never really found itself after this mornings retail and employment reports and moved up in a protracted trend, but not after some real fireworks early on.  The market had been moving steadily north all night and the economic news sent it into a short selling period, which I avoided participating in.

Again, watch those 7:30 announcement dates and make sure you are not an unwilling participant in a violent market swing.    Couple of nice trades today, and then a trade that I bailed on early.  I chickened out….

Todays pivot info, Fed and Fed agency announcements

By , 13 August, 2009, No Comment
ESU9
For 08/13/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1013.75 1025.25 999.75 988.25 974.25

Todays Fed and Fed Agency Announcements

Retail Sales
[Report][Star]8:30 AM ET
Jobless Claims
[Report][djStar]8:30 AM ET
RBC CASH Index
[Bullet9:00 AM ET
Money Supply
[Bullet4:30 PM ET
Some interesting announcements on today’s docket, especially early on in the day.  Again, some possible market volatility as the market digest where we stand in the current recession.

pivot and Fed announcements

By , 12 August, 2009, No Comment
ESU9
For 08/12/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1005.83 1018.67 997.92 985.08 977.17
Treasury Budget
[Report][djStar]2:00 PM ET
The FOMC is going to make some statements regarding interests rates and whether or not they are going to continue some of the programs that have kept the economy on life support.  I would think it would be important to know about when those announcements will be made, as the market usually goes into unpredictable gyrations on news from the Fed.
The general consensus is that the Fed will pretty much stay the course, but many are looking at the Fed’s programs of buying treasuries…etc.  So it ought to be an interesting day.  For once, I will need to trade more than just the chart in front of me, as these external announcements send the market careening willy-nilly.  Usually on fairly irrelevant news.
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