The Market Club Updates
KEY EVENTS TO WATCH FOR:
Monday, June 1, 2009
8:30 AM ET. April Personal Income
Personal Income (previous -0.3%)
Personal Spending (previous -0.2%)
PCE Price Index Monthly (previous 0%)
PCE Price Index Yearly (previous +0.6%)
PCE Core Price Index Monthly (previous +0.2%)
PCE Core Price Index Yearly (previous +1.8%)
0945/1345 May Dow Jones Econ Sentiment Index
DJ Economic Sentiment Indicator (previous 27.6)
10:00 AM ET. April Construction Spending
New Construction (previous +0.3%)
10:00 AM ET. May ISM Mfg Index
Manufacturing PMI (previous 40.1)
Prices Index (previous 32)
Employment Index (previous 34.4)
Inventories (previous 33.6)
New Orders Index (previous 47.2)
Production Index (previous 40.4)
Key Events and Commentary available earlier every morning, via The Market Club
THE STOCK INDEXES
The June NASDAQ 100 was higher overnight and trading above the previous reaction high crossing at 1437.75 thereby renewing this week’s rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends this spring’s rally, weekly resistance crossing at 1496.25 is the next upside target. Closes below the 20-day moving average crossing at 1395.97 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 1458.25. Second resistance is weekly resistance crossing at 1496.25. First support is the 20-day moving average crossing at 1395.96. Second support is the reaction low crossing at 1342.75. The June NASDAQ 100 was up 14.25 pts. at 1450.25 as of 6:02 AM CST. Overnight action sets the stage for a higher opening by June NASDAQ 100 when the day session begins later this morning.
The June S&P 500 index was higher overnight and is trading above resistance crossing at 929.00 as it extends this spring’s rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. From a broad perspective, June needs to close above 929.00 or below 875.40 to clear up near-term direction in the market. First resistance is the overnight high crossing at 937.00. Second resistance is the reaction high crossing at 979.80. First support is the 20-day moving average crossing at 903.60. Second support is the reaction low crossing at 875.40. The June S&P 500 Index was up 13.70 pts. at 932.30 as of 6:07 AM CST. Overnight action sets the stage for a higher 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
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: Currencies Direct, currency market updates, first resistance, First support, Key Events and Commentary, market club updates, MarketClub, second resistance, second support, The Market Club Update 
