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us early market report

  1. acouch

    5,559 posts.
    something for you to read in case you are interested...
    have a good night



    ading Kit Plus Special Market Reports Specifically
    Designed For Futures And Option Traders. http://www.ino.com/specials/barkley/invpackage.html
    _____________________________________________________________________

    DAILY CALENDAR

    7:00 AM ET. MBA Refinancing Index (last +4.2%)

    8:30 AM ET. May durable goods (seen +0.5%, last +1.1%)

    9:00 AM ET. Federal Open Market Committee meeting continues;
    interest rate decision expected around 2:15 PM.

    10:00 AM ET. May New Home Sales (seen +0.5%, last +1%)

    The STOCK INDEXES & MARKETS

    The US stock indexes were sharply lower in overnight trading due to
    additional profit warnings and disappointment over economic
    conditions. The latest economic data renewed questions about just how
    strong the recovery in the U.S. economy has been, especially among
    businesses exposed to consumer spending, which has been carrying the
    brunt of the burden. The September NASDAQ 100 was sharply lower
    overnight as it posted another new contract low. The index extended last
    week's breakout below last September's low crossing at 1088.96. If the
    decline continues, weekly support crossing at 9259.50 is the next
    potential downside target later this summer. The September NASDAQ
    100 was down 46.00 points at 981 as of 6:41 AM ET. Overnight action
    sets the stage for a sharply lower opening by the NASDAQ composite
    index later this morning. The September S&P 500 index was also
    sharply lower overnight due to profit concerns and a general lack of
    confidence in corporate leadership. The overnight decline confirmed a
    breakout below last September's low crossing at 983.50 and the previous
    reaction low crossing at 980. If the decline continues, weekly support
    crossing at 939 is a likely target later this summer. Momentum
    indicators are bearish signaling that sideways to lower prices are
    possible into July. The Sept. S&P was down 23.00 points at 951.20 as of
    6:44 AM ET

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