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Sunday, May 8, 2011

Stock Market Overview for 5/8/11

During regular trading hours, there were many stocks that continued to break up to the upside. These stocks are usually going up  with news.If you are looking to day trade today, you might want to check out the following stocks. I usually throw these on my watch list and monitor with resistance & support levels. Below are a list of stocks that I am watching for May 06, 2011.Also check out my Top 2011 Stock GainersStocks to Buy 2011.You can also check previous stocks to buy reports- Right Here
Top Stocks Performance of the day:These are  stocks that continued to break up to the upside or down side. These stocks are usually going up or down with news or technical.If you are looking to day trade, you might want to check out the following stocks.

New High:   PRO, CCIX, DGSE, TACT 
Overbought:  GTXI, VLCM
Unusual Volume:USB, EONC, ONFC, WMG
Upgrade: BSFT
Earnings Before: ACET
Insider Buying: EVBN

For Market TA analysis
Stock Market  Closing Price 5/6/11

$INDU Dow Industrial Close -   12698.74 Up 454.57
$COMPQ Nasdaq Composite Close  
2827.56 Up 12.84
$SPX S&P 500 Close 1340.20 Up 5.10

Commodities Closing Price 

Gold Close -  1492

Oil Close - 97.18

Natural Gas Close -4.25
SP 500
Long term signals : Bullish
Short term signals : Neutral

Stop  @ 1250
QQQQ (Nasdaq 100) : Bullish, stop @ 55
INDU: Bullish, stop @11000
COMPQ:Bullish, stop @ 2600
Top trend : Techs  
Value : Financial

Euro Dollar : Bullish
US Dollar index : Bearish  
Gold : Bearish, stop @ 1330
10 Y US Yield : Bullish, above 2.8 stop
30 Y US Bond : Short, stop @ 132

World Market
UK's FTSE:  Bullish, stop @ 5700
Germany's DAX: Bullish, stop @ 6340
France's CAC: Bullish, stop @ 3800
Shanghai : Bullish
Japan Nikkei : Bullish

The stock market gave up some of the past weeks' gains as commodities got clobbered and the dollar rallied on fears of slower global growth. On the upside, U.S. private companies added the most jobs since February 2006 and the drop in oil prices will be a positive for consumers.

Commodities took a beating this week, with the CRB Index shedding 9.0%, crude tumbling 14.1% and silver plummeting 27%. The decline in silver was largest weekly percentage fall on records dating back to 1984. After this week's sell off, the 1.4% year-to-date gain of the CRB Index is less than the 6.6% gain of the S&P 500.

In economic news, the April employment report showed solid job growth as private employers created more than enough jobs to offset the decline in government payrolls. Overall payrolls increased 244,000, well above the Briefing.com consensus of 175,000. Private payrolls were up 268,000, topping the Briefing.com consensus of 200,000 and the highest level since February 2006.

There was a discrepancy between the payroll numbers and the unemployment rate, however. The unemployment rate, which is based off a household survey, showed an uptick to 9.0% from 8.8%.  Support for the SPX remains at 1320 and then 1310, with resistance at 1342 and then 1350.So we should trade small lot.Take a look all 1/5/15/60m chart if we want to trade this market.

I also have  technical analysis different stocks-Right Here. 
Take a look some market indicator charts- Click all charts
$SPX - 60 min
$CPC daily
INDEX Bullish percent index (EOD)
Simple Trading System  
QQQQ Daily 

FOR 05/09 SPX resistance, pivot & support
Resistance R3 1393.14, R2 1375.49, R1 1357.84
Pivot Point 1346.71
Support  S1 1329.06, S2 1317.93, S3 1300.28

FOR Weekly 05/09-05/13  SPX resistance , pivot & support
Resistance R3 1419.99, R2 1388.06, R1 1364.13
Pivot Point 1346.65
Support  S1 1322.72, S2 1305.24, S3 1281.31

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