Daily Pivot S1 S2 R1 R2 and Announcements

By , 4 September, 2009, No Comment

Not a whole lot of information to be released today, but the market has plenty to digest with the flurry of reports this week, some good, some not so good.

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A Quick Look at the Market’s Reaction to the Employment Numbers

By , 3 September, 2009, No Comment

The numbers this morning were not particularly compelling, and after a quick sell off, the market seems to have shrugged the employment figures off as “par for the course.” There was nothing unexpected in the numbers and employment continues to an ongoing problem for the US economy.

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Employment Numbers show little change

By , 3 September, 2009, No Comment

Analysis courtesy of AMP Trading, get a free demo account and paper trade.

Released on 9/3/2009 8:30:00 AM For wk8/29, 2009
Prior Consensus Consensus Range Actual
New Claims – Level 570 K 562 K 555 K to 575 K 570 K
4-week Moving Average – Level 566.25 K 571.25 K

Highlights
There has been very little change in initial jobless claims over the past seven weeks, pointing to little change in payroll losses for tomorrow’s monthly employment report. Initial claims fell 4,000 to 570,000 in the Aug. 29 week (prior week revised 4,000 higher to 574,000). The four-week average is right at the current week, at 571,250. Continuing claims have been generally moving lower since early July, unfortunately reflecting the expiration of benefits and not necessarily new hiring. But in a bad sign, continuing claims rose in data for the Aug. 22 week, up 92,000 to 6.234 million. The unemployment rate rose 1 tenth to 4.7 percent. There was no significant reaction to the report.
Market Consensus Before Announcement
Initial jobless claims fell 10,000 in the August 22 week to 570,000. There were no special factors in the week. The four-week average was steady at 566,250. Continuing claims fell 119,000 to 6.133 million.
Definition
New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility

ES Emini Pivot and Fed Announcements 9-3-09

By , 3 September, 2009, No Comment
ESU9
For 09/03/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 999.83 1005.42 995.42 989.83 985.42

Fed data releases and other pertinent anouncements

Jobless Claims
[Report][djStar]8:30 AM ET
RBC CASH Index
[Bullet9:00 AM ET
ISM Non-Mfg Index
[Report][Bullet10:00 AM ET
Money Supply
[Bullet4:30 PM ET
I would suspect the employment numbers will be the today’s market moves, as the market yesterday seemed to be nervously awaiting those numbers to be released today as confirmation of the perception of an easing recession.

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By , 2 September, 2009, No Comment

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ES Emini Trading Chart for 9-2-09

By , 2 September, 2009, No Comment

A nice day of trading though there were some very choppy periods. No big gainers until the end of the day…most of it was 10 point stuff, especially later as the range narrowed. Had a couple of losers on trades that didn’t really develop.

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Daily Pivot and Fed Annoucements for 9-2-09

By , 2 September, 2009, No Comment

I was stunned to see that GM and Chrysler still were unable to increase their sales, even though the cash for clunkers and rebates made for some incredible prices for potential consumers. Toyota won the cash for clunkers derby going away. No surprise there.

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YM emini Chart for 9-1-09

By , 1 September, 2009, No Comment

I traded the YM contract today, for no particular reason other than I felt like trading something different. Only two trades and the market flattened out. The second trade was a good fade trade though I, as usual, bailed out at 40 points, and left some money on the chart.

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