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
