Thursday, June 10, 2004
Issue Contents:
| 09:29 | The Day Ahead Economic Releases |
| 09:45 | Good Morning A glance around the market. |
| 16:15 | TrendVue Trader Talk Today's transcript. |
| 16:15 | TrendVue Active Trader Today's transcript. |
| 16:17 | Symbol Scans Thursday June 10 closing data. |
US Market Calendar
- 8:30 am - Import and Export Price Index for May
- 8:30 am - Initial Jobless Claims
- 1:30 pm - Treasury refunding, part 2
- 2:00 pm - Federal Budget for May FY 2004
- 3:00 pm - Producer Price Index for May*
- 5:30 pm - Weakly Leading Index for the week ended June 4
* The PPP will be delayed, again.
Markets in the United States will be closed on Friday June 11 in observance of the funeral of President Ronald Reagan.
Canadian Market Calendar
- 8:30 am - Capacity utilization Q1
- 8:30 am - New Housing Price Index for April
For earnings highlights, please see today's WSJ Earnings Calendar.
For a list of upcoming speeches, congressional testimony, Federal Open Market Committee material, and statistical releases, please visit the What's Next page of The Federal Reserve Board website. Recently released Federal Reserve Board material, including market moving FOMC decisions and speeches by members, will be found on their What's New page.
Good morning everyone.
Today stock index futures for Nasdaq, S&P 500, and Dow Jones 30 roll over - the new front month is the "U" contract for september.
In economic reports today Import Prices came in unexpectedly strong (inflationary) yet a surprise pickup in Jobless Claims seems to have tempered reaction in both stock and currency markets markets so far.
Swing trade setups: Although Nasdaq and NYSE indicies have yet to push through yesterday's high, a number of the 1-2 bar retracement long setups have triggered against Thursday's highs.
Initial protective stops should be deployed, and where possible, move stops up to the most recent swing low on the 20 minute chart. Due to the unexpected closing of markets tomorrow, we can expect liquidity to dry up as the day progresses much like any pre-holiday trading day.
Sectors: In the early going, the worst performing sector is the DJ US Airlines Index; the best include the DJ US Energy, Autos and Container & Packaging indicies, the latter of which pushed to new multi-year highs today.
Newsworthy: The G8 summit continues today.
A top Pakistani General escaped assassination by gun and bomb attack. Concern over the truce in Najaf Iraq persists as new battles erupt. Eleven Chinese workers killed in attack in Afghanistan.
Two rabid skunks found in Stanley Park in Vancouver, a huge inner-city park and one of our favorite summertime destinations.
Dollar / Gold: The Gold contract is putting in a piercing line at a test of a swing bottom - this is a reversal setup if it holds to the close, triggered by a higher high on the next trading day.
US Dollar Index is pausing after a huge move Wednesday that brought price directly to overhead resistance. Currency and gold watchers will be very interested in this chart in the next few days as both are poised to reverse or continue their newly emerging trends (down in Gold, up in Dollar).
Today's transcript.
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Today's transcript.
Click on the title above to expand this document.
Thursday June 10 closing data.
Click on the title above to expand this document.