Currency Market Updates | The Market Club Updates

The Market Club Updates

KEY EVENTS TO WATCH FOR:

Wednesday, May 20, 2009
7:00 AM ET. May 15 Mortgage Applications

Market Composite Index (previous 895.6)

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Market Composite Index Cur Chg (previous -8.6%)

Purchase Index (S.A.) (previous 265.7)

Purchase Index (S.A.) Cur Chg (previous +0.5%)

Refinance Index (previous 4588.6)

Refinance Index Cur Chg (previous -11.2%)

10:30 AM ET. May 22 US Energy Dept Oil Inventories

Crude Oil Stocks (previous 370.6M)

Crude Oil Stocks (Net Change) (expected -700K; previous -4.7%)

Gasoline Stocks (previous 208.3M)

Gasoline Stocks (Net Change) (expected -1.2M; previous -4.1%)

Distillate Stocks (previous 147.5M)

Distillate Stocks (Net Change) (expected 700K; previous +1%)

Refinery Usage (expected 84%; previous 83.7%)

2:00 PM ET. April FOMC Minutes

Key Events and Commentary available earlier every morning, via The Market Club

THE STOCK INDEXES

The June NASDAQ 100 was higher overnight as it extends the rebound off the 25% retracement level of this spring’s rally. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends this week’s rebound, this month’s high crossing at 1437.75 is the next upside target. First resistance is Tuesday’s high crossing at 1410.50. Second resistance is this month’s high crossing at 1437.75. First support is the 20-day moving average crossing at 1384.90. Second support is the 25% retracement level of this spring’s rally crossing at 1339.50. The June NASDAQ 100 was up 2.75 pts. at 1396.75 as of 5:53 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 as it consolidates above the 10-day moving average crossing at 902.68. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If June extends this week’s rally, this month’s high crossing at 929.00 is the next upside target. Closes below Monday’s low crossing at 875.40 would confirm that a short-term top has been posted. First resistance is Tuesday’s high crossing at 915.80. Second resistance is this month’s high crossing at 929.00. First support is the 10-day moving average crossing at 902.68. Second support is Monday’s low crossing at 875.40. The June S&P 500 Index was up 2.50 pts. at 909.00 as of 5:55 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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