It was a yet another roller coaster day in the stock market. Dow sold off 120 points after Federal Open Market Committee (FOMC) minute but it recovered 70 in last hour to close at 12,604 down 49 point. In last 5 days, dow is down 275 point but still up 485 point since June 4th, 2012.
S&P500 was bullish at open and remained flat most of the day. After Federal Open Market Committee (FOMC) minute, S&P500 sold of 10 point and then recovering 12 point in last hour to close flat for the day.
Market is expected to open lower to flat tomorrow and rest of the day depends on the rumor out of Europe.
Market is expected to open lower to flat tomorrow and rest of the day depends on the rumor out of Europe.
For Bullish sentiment to continue, Dow needs to break 12,665 and S&P500 needs to break 1344.
For Bearish sentiment to continue, Dow needs to 12,570 and S&P500 needs to break 1338.
Tips: Don't chase stock in a directionless low volume market.
Tips: Don't chase stock in a directionless low volume market.
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| If 1338 resistance is broken, S&P500 could fall in 1298 - 1328 window range. |
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| 1 month chart of S&P500 is still in bearish zone, next few days are crucial for US stock market. JPM earning is most important thing to watch on Friday |
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| Dow chart shows there is more downside if it breaks 12,570 level. The next window range is 12,250 - 12570. |
Earning Calendar for July 12th.
| Company | Symbol | Period | Estimated EPS | Year Ago EPS | Actual EPS | Time | Details |
|---|---|---|---|---|---|---|---|
| Frequency Electronics Inc. | FEIM | Q4 12 | $ N/A | $ -0.02 | $ | After market close | - |
| Theratechnologies Inc. | THER | 2Q12 | $ N/A | $ N/A | $ | Before Market Open | - |
| Commerce Bancshares Inc. | CBSH | Q2 12 | $ 0.72 | $ 0.75 | $ | Time not supplied | - |
| HOME LOAN SERVICING SOLUTIONS, LTD. | HLSS | Q2 12 | $ 0.32 | $ N/A | $ | Time not supplied | - |
| CERES, INC. | CERE | Q3 12 | $ -0.33 | $ N/A | $ | After Market Close | - |
| TRINITY BIO | TRIB | Q2 12 | $ 0.19 | $ 0.17 | $ | Time Not Supplied | , |
| Wireless Matrix Corp. | WRX.TO | Q4 12 | $ N/A | $ N/A | $ | Before market open | - |
| Emmis Communications Corp | EMMS | Q1 | $ N/A | $ N/A | $ | Before Market Open | - |
| AngioDynamics Inc. | ANGO | Q4 12 | $ 0.09 | $ 0.11 | $ | After market close | - |
| Bank of the Ozarks, Inc | OZRK | Q2 12 | $ 0.52 | $ 1.46 | $ | After Market Close | , |
| NovaGold Resources J | NG.TO | Q2 12 | $ N/A | $ N/A | $ | Before Market Open | , |
| Astral Media Cl A NV | ACM_A.TO | 3Q12 | $ 1.02 | $ 0.87 | $ | Time Not Supplied | - |
| Astral Media Cl A NV | AAIAF.PK | 3Q12 | $ 1.02 | $ 0.87 | $ | Time Not Supplied | - |
| Resources Connection Inc. | RECN | Q4 12 | $ 0.15 | $ 0.09 | $ | After Market Close | , |
| Corus Entertainment Inc | CJREF.PK | Q3 12 | $ N/A | $ N/A | $ | Time Not Supplied | , |
| Corus Entertainment Inc | CJR-B.TO | Q3 12 | $ N/A | $ N/A | $ | Time Not Supplied | , |
| MISSION WEST PROPERTIES | MSW | Q2 12 | $ N/A | $ N/A | $ | Time Not Supplied | , |
| Fastenal Co. | FAST | Q2 12 | $ 0.37 | $ 0.32 | $ | Before market open | - |
| Cogeco Cable Inc. | CCA.TO | Q3 12 | $ N/A | $ N/A | $ | Time not Supplied | - |
| COGECO Inc. | CGO.TO | Q3 12 | $ N/A | $ N/A | $ | Time not Supplied | - |
US Economic Calendar
| TIME (ET) | REPORT | PERIOD | ACTUAL | FORECAST | PREVIOUS |
|---|
| 8:30 am | Weekly jobless claims | 7-7 | 365,000 | 374,000 | |
| 8:30 am | Import price index | June | -1.9% | -1.0% | |
| 2 pm | Federal budget | June | -- | -$43 bln |
Global Economic Calendar
| THURSDAY, JULY 12 | ||||
|---|---|---|---|---|
| Bank of Japan decision | 0%-0.1% | |||
| 5 a.m. | Euro-zone industrial production | May | -0.8% | |
| 6 a.m. | Greek unemployment | Apr | 21.9% | |
| 10 p.m. | China GDP | Q2 | 8.1% | |
| Percentage Gainers | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| DragonWave | DRWI | 14,500 | $3.96 | 0.48 |  13.79 | $3.96 | $3.20 | ||
| Complete Genomics | GNOM | 483,723 | 3.17 | 0.24 | 8.19 | 3.23 | 2.68 | ||
| MEMC Electronic Materials | WFR | 27,842 | 2.37 | 0.08 | 3.49 | 2.37 | 2.27 | ||
| Royal Gold | RGLD | 20,766 | 75.60 | 2.28 | 3.11 | 75.60 | 72.47 | ||
| Hexcel | HXL | 9,473 | 25.28 | 0.73 | 2.97 | 25.28 | 24.55 | ||
| Percentage Decliners | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Supervalu | SVU | 1,143,464 | $3.90 | -1.39 | -26.28 | $6.08 | $3.80 | ||
| Calix | CALX | 268,387 | 5.05 | -1.43 | -22.07 | 7.21 | 4.68 | ||
| Xyratex | XRTX | 12,400 | 11.00 | -0.40 | -3.51 | 11.57 | 11.00 | ||
| Sprott Physical Silver Trust | PSLV | 91,900 | 11.09 | -0.39 | -3.40 | 11.49 | 10.90 | ||
| Immunogen | IMGN | 83,665 | 16.80 | -0.56 | -3.23 | 17.36 | 16.31 | ||
| James River Coal | JRCC | 13,077 | 2.25 | -0.07 | -3.02 | 2.31 | 2.25 | ||
