The Market Club Updates
Key Events and Commentary available earlier every morning via The Market Club
KEY EVENTS TO WATCH FOR:
Friday, April 17, 2009
9:55 AM ET. April Reuters/Univ. Of Michigan Consumer Confidence Index, preliminary
Sentiment Index End month (previous 57.3)
Sentiment Index Mid Month (expected 57.5; previous 56.6)
Expectations Index End Month (previous 53.5)
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Expectations Index Mid Month (previous 50.5)
12-Month Inflation Forecast (previous 2)
Value (Current Period) End Month (previous 63.3)
Value (Current Period) Mid Month (previous 62.3)
Key Events and Commentary available earlier every morning, via The Market Club
THE STOCK INDEXES
The June NASDAQ 100 was lower due to profit taking overnight as it consolidates some of Thursday’s rally.Stochastics and the RSI are overbought but are neutral signaling that sideways to higher prices are possible near-term. If June extends the rally off March’s low, the reaction high crossing at 1386.25 is the next upside target. Closes below the 20-day moving average crossing at 1283.35 are needed to confirm that a short-term top has been posted.
First resistance is Thursday’s high crossing at 1358.25.Second resistance is the reaction high crossing at 1386.25.
First support is Wednesday’s low crossing at 1293.50.Second support is the 20-day moving average crossing at 1283.35.
The June NASDAQ 100 was down 5.00 pts. at 1347.00 as of 5:56 AM CST. Overnight action sets the stage for a lower opening by June NASDAQ 100 when the day session begins later this morning.
The June S&P 500 index was steady to slightly lower due to profit taking overnight as it consolidates some of its recent gains.Stochastics and the RSI are overbought but are neutral to bullish signaling that sideways to higher prices are still possible near-term. If June extends the rally off March’s low, February’s high crossing at 867.50 is the next upside target. Closes below the 20-day moving average crossing at 824.30 are needed to confirm that a short-term top has been posted.
First resistance is Thursday’s high crossing at 867.00.Second resistance is January’s high crossing at 937.00.
First support is Wednesday’s low crossing at 831.70.Second support is the 20-day moving average crossing at 824.30.
The June S&P 500 Index was down 0.10 pts. at 861.40 as of 5:58 AM CST. Overnight action sets the stage for a steady to lower opening by the June 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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