Once again, ECB fine tuning operation on Tuesday caused higher open and mini rally followed by sell off after Dow hit 52 week high. Dow, S&P500 and Nasdaq are back to the top of the window range, where it had been trading all August. In Dow jones, 13106-13203 acted as support level while in S&P500 1390 - 1410 acted as support level. If all the index drop by 0.5% then the support level is broken. For bullish sentiment, Dow needs to break 13,244 and S&P500 needs to break 1416, where as for bearish sentiment to continue, Dow needs to break 13,154 and S&P500 needs to break 1410.
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| Dow Jones back into window range of 13,100 - 13,200 range. |
Based on the chart, tomorrow stock market is expected to open lower.
This is how Dow closed in the bearish zone. Watch out the movement in GLD, DUST, NUGT on Fed fomc minute.
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| Dow jones in bearish zone |
AAPL: Sell @ 656 and buy @ 658.
UVXY: Sell @ 5.20 and buy @ 5.33
TVIX: Sell @ 2.57 and buy @ 2.64
VXX: Sell @ 11.32 and buy @11.52
GOOG: Sell @ 668 and buy @ 670.
JPM: Sell @ 38.04 and buy @ 38.26
DUST: Sell @ 38.94 and buy @ 39.46
GLD: Sell @ 158.83 and buy @ 159.12
AGQ: Sell @42.74 and buy @ 42.99
NUGT: Sell @ 11.74 and buy @11.85
After hours
| Percentage Gainers | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Key Tronic | KTCC | 59,153 | $9.32 | 1.32 | 16.50 | $9.58 | $8.00 | ||
| Alexza Pharmaceuticals | ALXA | 17,512 | 4.44 | 0.41 | 10.17 | 4.45 | 4.00 | ||
| Williams-Sonoma | WSM | 916,693 | 41.70 | 3.47 | 9.08 | 42.15 | 37.92 | ||
| La-Z-Boy | LZB | 18,112 | 14.40 | 0.90 | 6.67 | 14.87 | 13.46 | ||
| Express | EXPR | 6,111 | 17.50 | 0.60 | 3.55 | 17.65 | 16.90 | ||
| Percentage Decliners | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Ultra Clean Holdings | UCTT | 20,124 | $5.56 | -1.14 | -17.01 | $6.72 | $5.56 | ||
| Dell | DELL | 4,309,653 | 11.78 | -0.56 | -4.54 | 12.75 | 11.60 | ||
| Career Education | CECO | 9,856 | 3.60 | -0.14 | -3.74 | 3.76 | 3.44 | ||
| Amkor Technology | AMKR | 15,229 | 5.00 | -0.14 | -2.72 | 5.21 | 5.00 | ||
| Intuit | INTU | 100,668 | 57.37 | -1.58 | -2.68 | 59.98 | 56.51 | ||
| Economic Calendar | |||||
|---|---|---|---|---|---|
| TIME (ET) | REPORT | PERIOD | ACTUAL | FORECAST | PREVIOUS |
| 10 am | Existing home sales | July | 4.50 mln | 4.37 mln | |
| 2 pm | FOMC minutes |
