The Market Club Updates
KEY EVENTS TO WATCH FOR:
Thursday, June 4, 2009
8:30 AM ET. May 30 Jobless Claims
Weekly Jobless Claims (Expected 620K; previous 623K)
Weekly Jobless Claims Net Change (expected -3K; previous -13K)
Continuing Jobless Claims (previous 6788000)
Continuing Jobless Claims Net Change (previous +11000)
8:30 AM ET. 1 Quarter Productivity & Costs, revised
Non-Farm Productivity (expected +1.2%; previous +0.8%)
Unit Labor Costs (expected +2.9%; previous +3.3%)
10:30 AM ET. May 29 EIA Natural Gas Inventories, in billion cubic feet
Total Working Gas in Storage (previous 2213)
Total Working Gas in Storage (Net Change) (previous +106)
4:30 PM ET. May 27 Fed Discount Window Borrowings, in dollars
Primary Credit Borrowings (previous 38.05B)
Primary Credit Borrowings W/E Daily Avg. (previous 38.15B)
Primary Dealer Borrowings (previous 0)
Primary Dealer Borrowings W/E Daily Avg. (previous 0)
Discount Window Borrowings (previous 123.57B)
Discount Window Borrowings W/E Daily Avg. (previous 124.23B)
4:30 PM ET. June 3 Foreign Central Bank Holdings, in dollars
Foreign US Debt Holdings (previous 2.72T)
US Foreign Agency Holdings (previous 814.51B)
Foreign Treasury Holdings (previous 1.9T)
4:30 PM ET. May 25 Money Supply
Key Events and Commentary available earlier every morning, via The Market Club
THE STOCK INDEXES
The June NASDAQ 100 was higher overnight as it consolidates above the 38% retracement level of the 2008-2009-decline crossing at 1442.87. Stochastics and the RSI are overbought but remain neutral to 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 1404.81 would confirm that a short-term top has been posted. First resistance is Tuesday’s high crossing at 1484.50. Second resistance is weekly resistance crossing at 1496.25. First support is the 10-day moving average crossing at 1430.30. Second support is the 20-day moving average crossing at 1404.81. The June NASDAQ 100 was up 2.75 pts. at 1480.25 as of 6:01 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 due to short covering as it consolidates some of Wednesday’s decline. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this spring’s rally, the 38% retracement level of the 2008-2009-decline crossing at 1040.33 is the next upside target. Closes below the 20-day moving average crossing at 908.28 would confirm that a short-term top has been posted. First resistance is Tuesday’s high crossing at 948.50. Second resistance is the 38% retracement level crossing at 1040.33. First support is the 20-day moving average crossing at 908.28. Second support is the reaction low crossing at 875.40. The June S&P 500 Index was up 3.90 pts. at 935.60 as of 6:03 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
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The contents of this report are for information purposes only. Compiled by Tom Nadir.
Posted in The Market Club Tagged: currency market updates, first resistance, First support, Key Events and Commentary, market club updates, second resistance, second support 
