The Market Club Updates
KEY EVENTS TO WATCH FOR:
Tuesday, June 23, 2009
7:45 AM ET. June 2 ICSC/Goldman Sachs Chain Store Sales
Chain Store Sales Index – WoW (previous -0.6%)
Chain Store Sales Index – YoY (previous -1.5%)
8:55 AM ET. June 2 Redbook Index
MoM % Change (previous -4.5%)
12MonChgPct (previous -4.6%)
52WkChgPct (previous -4.8%)
10:00 AM ET. June Richmond Fed Survey
Manufacturing Index (previous 4)
Retail Revenues Index (previous –13)
Services Revenue Index (previous –29)
Shipments Index (previous 9)
10:00 AM ET. May Existing Home Sales
Total Sales (expected 4.8M; previous 4.68M)
Percent Change (expected +2.6%; previous +2.9%)
4:30 PM ET. June 1 API Oil Industry Report
Crude Stocks (Net Change) (previous -1.26M)
Gasoline Stocks (Net Change) (previous +2.14M)
Distillate Stocks (Net Change) (previous +881K)
Refinery Runs (previous 83.3%)
5:00 PM ET. June 2 ABC/Washington Post Consumer Confidence Index (previous –49)
N/A Two-Day FOMC meeting begins; interest rate decision expected around 2:15 p.m. EDT Wed.
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Key Events and Commentary available earlier every morning, via The Market Club
THE STOCK INDEXES
The September NASDAQ 100 was higher due to short covering overnight as it consolidated some of Monday’s decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends last week’s decline, the 25% retracement level of this spring’s rally crossing at 1399.87 is the next downside target. First resistance is the 20-day moving average crossing at 1462.35. Second resistance is the reaction high crossing at 1517.75. First support is Monday’s low crossing at 1421.25. Second support is the 25% retracement level crossing at 1399.87. The September NASDAQ 100 was up 3.50 pts. at 1431.50 as of 5:53 AM CST. Overnight action sets the stage for a higher opening by June NASDAQ 100 when the day session begins later this morning.
The September S&P 500 index index was higher due to short covering overnight as it consolidates some of Monday’s decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends the decline, the reaction low crossing at 874.00 is the next downside target. Closes above the 20-day moving average crossing at 920.16 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 915.89. Second resistance is the 20-day moving average crossing at 920.16. First support is the overnight low crossing at 886.70. Second support is the reaction low crossing at 874.00. The September S&P 500 Index was up 5.00 pts. at 893.60 as of 5:55 AM CST. Overnight action sets the stage for a higher opening by the September S&P 500 index when the day session begins later this morning.
Key Events and Commentary available earlier every morning, via The Market Club
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The contents of this report are for information purposes only. Compiled by Tom Nadir
Posted in The Market Club Tagged: currenies direct updates, first resistance, First support, June NASDAQ 100, June S&P 500 index, Key Events and Commentary, marketclub updates, second resistance, second support 
