US Market At 14 January 2009


Market at 14 January 2009
DJIA
Open 8446.01 High 8446.25 Low 8140.72 Close 8200.14
NASDAQ
Open 1521.33 High 1528.65 Low 1485.26 Close 1489.64
S&P500
Open 867.28 High 867.28 Low 836.93 Close 842.62

December Export Prices ex-ag. and Import Prices ex-oil report a better price than last report.
December Retail Sales data plunged and missed analyst estimation. Market took it as a strong signal of worsen economic condition. November Business Inventories give the same indication.
Crude Inventories indicate a good supply but showing a weak consuption.
Fed Beige Book release a story of dismal retail and vehicle sales, declining manufacturing, and worsening real estate markets.

All index move in negative teritory as retail sales plunged. Meanwhile Citigroup and Bank of America faced new doubts over their ability to fund their massive losses. It make their shares sank and drive the market down.

DJIA move in negative teritory, held by support trendline at 8120
NASDAQ move in negative teritory, held by support trendline at 1480
S&P500 move in negative teritory, pass support trendline at 860 and might testing 820.

Market at 15 January 2009
DJIA
Support at 8075, if this support break, DJI will move to 7950.
Resistance at 8375, if this resistance break, DJI will move to 8575.
NASDAQ
Support at 1475, if this support break, NASDAQ will move to 1450.
Resistance at 1525, if this resistance break, NASDAQ will move to 1550.
S&P500
Support at 830, if this support break, S&P500 will move to 820.
Resistance at 860, if this resistance break, S&P500 will move to 880.

A break down happened there is a possibility that index will going down again.

Economic Data Release at 15 January 2009

  • December PPI and Core PPI will be release at 8.30 ET. Analyst expect Core PPI at the same level as last report while PPI estimate to give a better report.
  • 10 January 2009 Initial Claim will be release at 8.30 ET. Analyst estimate that Initial Claim will increase to 501.000 from 467.000.
  • January Empire Manufacturing Index will be release at 8.30 ET.
  • January Philadelphia Fed will be release at 10.00 ET.
Earning Report
JPM will release their earning report at 15 January 2009 before market open, analyst estimate their earning at -$0.01 from $0.86 last year. A surprise on their report will move the market deep, after yesterday market movement.

Event
JPM earning report will tell how deep financial market crisis. Meanwhile market wait for CitiGroup and BAC to decide how to cover their massive losses.

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