Yesterday we saw bear trap at the close, when Dow, S&P500 and Nasdaq recovered partially.
From Tuesday multi year high, Dow jones is down 271 point, S&P500 is down 20 point.
This week, Dow is down 150 point, S&P500 is down 14 point.
For August, Dow is up 48 point, S&P500 is up 22 point.
This week prediction was spot on. http://www.freefdawatchlist.com/2012/08/weekly-outlook-s-dow-jones-nasdaq-and.html
This week prediction was spot on. http://www.freefdawatchlist.com/2012/08/weekly-outlook-s-dow-jones-nasdaq-and.html
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| Dow jones closed in bullish zone for tomorrow but its expected to open flat. 13081 is now critical for the upside. More sell off is expected in GDP shows continuation of double dip recession. |
Based on the chart, tomorrow market is expected to open flat but based on tonight UK GDP number, it will sell off, if the data points out continuation of double dip recession.
For bullish sentiment to continue, Dow needs to break 13081 and S&P500 needs to break 1404.
For bearish sentiment to continue, Dow needs to break 13032 and S&P500 needs to break 1400.53
For bullish sentiment to continue, Dow needs to break 13081 and S&P500 needs to break 1404.
For bearish sentiment to continue, Dow needs to break 13032 and S&P500 needs to break 1400.53
Below is chart analysis for UVXY, BBY
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| Chart analysis for BBY |
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| Chart analysis for UVXY |
Economic Calendar
| Time | Cur. | Imp. | Event | Actual | Forecast | Previous | ||
| Friday, August 24 | ||||||||
| 01:00 | SGD | Singaporean Industrial Production (YoY) | 6.7% | 7.6% | ||||
| 03:00 | HUF | Hungarian Retail Sales (YoY) | -2.40% | -2.50% | ||||
| 03:00 | EUR | Spanish PPI (YoY) | 2.9% | 2.5% | ||||
| 03:45 | JPY | BoJ Governor Shirakawa Speaks | ||||||
| 04:30 | GBP | GDP (YoY) | -0.6% | -0.8% | ||||
| 04:30 | GBP | Index of Services | 0.0% | 0.5% | ||||
| 04:30 | GBP | GDP (QoQ) | -0.5% | -0.7% | ||||
| 04:30 | GBP | Business Investment (QoQ) | 2.8% | 1.9% | ||||
| 07:30 | BRL | Brazil IBC-Br Economic Activity | 0.50% | -0.02% | ||||
| 07:30 | INR | Indian Bank Loan Growth | 17.20% | |||||
| 07:30 | INR | Indian FX Reserves, USD | 289.17B | |||||
| 08:30 | USD | Durable Goods Orders (MoM) | 2.4% | 1.3% | ||||
| 08:30 | USD | Core Durable Goods Orders (MoM) | 0.5% | -1.4% | ||||
| 10:30 | USD | ECRI Weekly Annualized (WoW) | -0.60% | |||||
After hours trading percentage gainer and loser:
| Percentage Gainers | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Aruba Networks | ARUN | 904,594 | $19.40 | 2.48 | 14.66 | $19.93 | $16.80 | ||
| Supervalu | SVU | 75,187 | 2.35 | 0.23 | 10.85 | 2.44 | 2.12 | ||
| Steel Dynamics | STLD | 54,232 | 13.06 | 0.73 | 5.92 | 13.06 | 12.31 | ||
| Corinthian Colleges | COCO | 12,890 | 2.37 | 0.11 | 4.87 | 2.37 | 2.26 | ||
| Achillion Pharmaceuticals | ACHN | 8,453 | 6.86 | 0.25 | 3.78 | 6.86 | 6.60 | ||
| Mitcham Industries | MIND | 5,429 | 17.19 | 0.62 | 3.74 | 17.19 | 16.57 | ||
| Nordson | NDSN | 14,102 | 61.29 | 2.05 | 3.46 | 61.29 | 59.23 | ||
| Mentor Graphics | MENT | 9,985 | 16.80 | 0.56 | 3.45 | 16.80 | 16.22 | ||
| Percentage Decliners | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| Idenix Pharmaceuticals | IDIX | 57,935 | $5.61 | -0.48 | -7.88 | $6.11 | $5.40 | ||
| Rubicon Technology | RBCN | 8,327 | 8.53 | -0.51 | -5.64 | 9.04 | 8.53 | ||
| Salesforce.com | CRM | 959,744 | 139.15 | -7.62 | -5.19 | 148.96 | 136.99 | ||
| Solera Holdings | SLH | 5,814 | 41.00 | -1.69 | -3.96 | 42.69 | 40.94 | ||
| Rue21 | RUE | 64,202 | 27.74 | -1.13 | -3.91 | 30.60 | 27.00 | ||
