US Market At 25 February 2009


Market at 25 February 2009
DJIA
Open 7349.58 High 7404.94 Low 7156.68 Close 7270.89
NASDAQ
Open 1431.11 High 1453.66 Low 1404.54 Close 1425.43
S&P500
Open 770.64 High 780.12 Low 752.89 Close 764.90

Bernanke's testimony to the Senate Banking Committee on the Fed semiannual report on monetary policy said that FED main concern is to restore a degree of stability to some financial markets and committed transparency to keeping the Congress and the public informed about its lending programs and balance sheet.
January Existing Home Sales released lower than last month release and missed anaylst estimate.
20 February Crude Inventories increased 700.000 barrels, less than analyst estimate. The release make oil price go higher to $42/barrels.

DJIA held by support at 7180 and tested resistance at 7450 then closed at 7270.89.
NASDAQ held by support at 1410 and tested resistance at 1460 then closed at 1425.43.
S&P500 held by support at 755 and tested resistance at 785 then closed at 764.90.

Market at 26 February 2009
DJIA
Support at 7150, if this support break, DJI will move to 7025.
Resistance at 7400, if this resistance break, DJI will move to 7525.
NASDAQ
Support at 1400, if this support break, NASDAQ will move to 1375.
Resistance at 1450, if this resistance break, NASDAQ will move to 1475.
S&P500
Support at 750, if this support break, S&P500 will move to 740.
Resistance at 780, if this resistance break, S&P500 will move to 790.

Economic Data Release at 26 February 2009.
  • January Durable Goods Orders and Durables, Ex-Tran will be release at 08.30 ET. Analyst estimate that data release will be better than last release.
  • 21 February Initial Claims will be release at 08.30 ET. Analyst estimate a lower release than last release.
  • January New Home Sales will be release at 10.00 ET. Analyst expect a lower release than last release.
Earning Report
25 February after market close, CLF, ESRX, FLR and FLS released their earning report. ESRX posted a higher earning than last year earning and meet analyst estimation. FLR and FLS posted better than analyst estimation and higher than last year earning. While CLF posted a lower earning than last year earning and missed analyst estimate.
26 February before market open, GM will release their earning report. Analyst estimate release will be lower than last year earning.

Events
President Obama speech sounded good, but provide few details on government policy toward the banking system. US Regulators give financial sector 6 month deadline as stress tests, to raise new capital after a review of their balance sheets. Market is overshadowing speculation that banks will not pass it. Plan on health care make insurers cut their dividend and it triggered a sell-off on insurers.

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