PFGBEST Futures Training Division

Daily S&P Report(163)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Wednesday, April 25, 2012 at 4:04 PM

E Mini S&P settles 1387.25 up 17.25

Stock futures rose across the board on Wednesday giving the NASDAQ its biggest gain of the year after Apple’s earnings easily beat expectations, while Fed Chairman Bernanke, in a press conference put investors on ease saying the Fed would be there if needed to offer more stimulus if conditions warrant. Central bankers today upgraded their forecasts for economic growth and unemployment while repeating their view that borrowing costs are likely to remain “exceptionally low” at least through late 2014. The Fed statement and their outlook was very similar to the outlook they gave in last month’s testimony but Bernanke’s comments on QE3, soothed investor fears. It’s important to remember that during testimony given by the Chairman in late February, Bernanke soured on the prospects of more QE3. Today’s testimony differed in that the Fed Chairman said more stimulus measures would not be taken off the table and that the Fed’s intention “is to maintain a highly accommodative stance of policy for the foreseeable future; it is not unconditional, but depends how outlook evolves”. It can be then be argued that the Fed is providing an insurance policy to the economy. Apple’s blowout results after the bell yesterday along with today’s Fed commentary were the top drivers for the session. Even a very weak Durable Goods number couldn’t derail today’s rally. The March reading of Durable Goods were down 4.2 percent on a month on month basis; orders ex-transportation were negative1.1 percent on the month. Important economic data tomorrow on Jobless Claims and Pending Home Sales while earnings releases are highlighted by Chrysler, PepsiCo, and Barclay’s. Please call or email me with any questions or comments.

Daily Swing #s ESM2
R2-1399.75
R1-1393.50
Pivot-1381.50
S1-1375.25
S2-1363.25

Daily Swing #s YMM2
R2-13117
R1-13078
Pivot-13017
S1-12978
S2- 12917

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Daily S&P Report(162)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Tuesday, April 24, 2012 at 3:05 PM

E Mini S&P settles 1370.00 up 7.25

Stock futures trended higher during the early morning hours, aided by easing sovereign debt concerns in Europe particularly in Italy and the Netherlands. European shares closed higher after hitting a three month low yesterday, after the Netherlands’ successful $2.6 billion bond auction on Tuesday, despite the collapse of the Dutch government on Monday. Dow futures contracts were the sectors best performer today gaining 88 points to close up at 12,959, once flirting with the 13,000 level earlier in the session. Strong Dow components AT&T, 3M, and United Technologies all beat earnings projections before the bell igniting a rally that never stalled throughout the session. The e mini S&P followed the Dow higher for most of the day albeit for a smaller percentage gain as mixed economic data weighed on the sector. The NASDAQ was the sectors only laggard as it dropped for a sixth straight day. On the economic front, home prices dropped in February for a sixth straight month, according to the S&P/Case Schiller Home Price Index. New Home sales slid 7.1 percent in March, their lowest reading in four months. Consumer confidence dipped slightly in April to 69.2 from a downwardly revised 69.5 in March, according to the Conference Board. Going forward investors will be watching tomorrow’s post FOMC meeting communiqué and the quarterly press conference given by Bernanke tomorrow afternoon at 1:15 central. We also have a slew of earnings releases highlighted by Boeing, Caterpillar, and Motorola. Durable Goods and Weekly mortgage applications highlight the economic release calendar. Please call or email me with questions or comments.

Daily Swing #s ESM2
R2-1377.25
R1-1374.00
Pivot-1367.50
S1-1363.50
S2-1357.50

Weekly Swing #s YMM2
R2-13066
R1-13012
Pivot-12941
S1-12887
S2-12816

Daily S&P Report(161)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Monday, April 23, 2012 at 3:17 PM

E Mini S&P settles 1362.75 down 12.50

Stock indices sold off across the globe as weak euro-zone economic data and political uncertainty in France and Holland underscored worries about the region’s debts. Stock futures began the day lower on overseas weakness then consolidating within a tight range for the remainder of the session. It was a light day for earnings and economic releases so the news out of Europe and China drove all three benchmark indexes lower. The Stoxx Europe 600 slumped 2.5 percent, as data showed that business activity in the euro zone’s private sector contracted the most in 5 months in April. The preliminary purchasing managers index for the euro zone fell to 47.4 in April from 49.1 in March. Separately, Dutch Prime Minister Mark Rutte and his cabinet offered to resign after budget talks fell apart. The development is expected to pave the way for early elections and led to speculation among investors the country might lose its AAA credit rating. Asian markets also fell. The Shanghai composite was down 0.8 percent after data showed Chinese manufacturing activity in the country continued to contract in April, although at a slower rate than in March. Economic release data picks up tomorrow with New Home Sales, the Case-Schiller home price index, a reading on consumer confidence, and the beginning of a two day meeting of the FOMC. We also have major earnings releases from Apple, AT&T, 3M, and Aflac among others. Please call or email me with any questions or comments.

Daily Swing #s ESM2
R2-1384.50
R1-1373.50
Pivot-1363.75
S1-1352.75
S2-1343.00

Daily Swing #s YMM2
R2-13070
R1-12970
Pivot-12878
S1-12778
S2-12686

Weekly S&P Report(56)

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

E Mini S&P settles 1375.25 up 10.25
For the week ended (4/16-4/20)

S&P and Dow futures snapped a two week losing streak amid strong earnings results and somewhat encouraging news from the euro zone. The mini Dow Jones futures contract posted a gain of 200 points for the week led by stronger earnings results which trumped weak economic data on jobs and housing. Stock futures see-sawed throughout the week. Traders had to sift through weak data on jobless claims and existing home sales, along with ongoing jitters from the euro zone. Most key S&P sectors finished the week in positive territory, led by utilities, but techs finished in the red for the second week in a row. The CBOE Volatility Index, widely considered the best gauge of fear in the market, tumbled below 18. For the week the Dow gained 1.40 percent, the S&P 500 added 0.60 percent, while the NASDAQ fell 0.36 percent. Travelers posted the best weekly advance on the Dow, while Bank of America was the top laggard. Of the 121 S&P 500 companies that have posted earnings so far, 81 percent have surpassed expectations, according to Reuters. European shares closed higher following a report that showed German business sentiment rose unexpectedly for the sixth month in a row, an encouraging sign that the region’s biggest economy continues to outperform its neighbors. However Spanish 10 year bonds rose again above the market sensitive 6 percent level while German bunds rallied.
Heading into next week the Federal Reserve will hold a two day meeting this week on Tuesday and Wednesday and while they are not expected to take action, they will update its economic and interest rate forecasts. Fed Chairman Bernanke will hold his quarterly press briefing. There are about 180 companies reporting earnings in the coming week, headlined by Apple. The stock finished this past week correcting ten percent ahead of its earnings on Tuesday. Apple has made a recent run from $400 to $600, raising concern that the stock has run to far to fast, since it has a tremendous influence on the overall stock market. PMI manufacturing data from China and the Euro zone is expected early Monday morning, and that could put the initial focus on the global economy positive or negative. U.S. data includes new home sales and home price data on Tuesday, jobless claims on Thursday and the first look on first quarter GDP on Friday. Disappointing economic data in the U.S. this past week helped aid to the choppy market conditions while supporting gains in Treasuries. But many economists believe that the weak data will not be enough to force the Fed’s hand on another round of quantitative easing. It is my belief that the Fed will come out and say that no instrument will be taken off the table to support the economy but will probably not convey that another round of QE3 is imminent. As for interest rates I believe they will convey their target for rates to remain at or near zero until 2014 despite some recent whispers from Fed Governors that tightening measures could start sooner. The Fed announcement will take place at 11:30 central on Wednesday with the Fed’s economic forecast at 1pm, followed by Bernanke’s press briefing at 1:15. My swing numbers for next week in the mini S&P come is like this. Support is down first at 1359.50 and with a close under 1344.00 the next level down. Resistance is up at 1390.25 and with a close over 1405.50 the next level to the upside. Please call or email me at anytime with questions or comments.

Daily Swing #s ESM2 (4/23)
R2-1388.50
R1-1381.75
Pivot-1376.50
S1-1369.75
S2-1364.50

Weekly Swing #s ESM2 (4/23-4/27)
R2-1405.50
R1-1390.25
Pivot-1374.75
S1-1359.50
S2-1344.00

Daily Swing #s YMM2 (4/23)
R2-13114
R1-13050
Pivot-12963
S1-12899
S2-12812

Weekly Swing #s YMM2 (4/23-4/27)
R2-13257
R1-13122
Pivot-12935
S1-12800
S2-12613

Daily S&P Report(160)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Thursday, April 19, 2012

E mini S&P settles 1372.50 down 5.75

Stock futures drifted lower Thursday following weak economic data on jobs and housing as traders ignored stronger than expected earnings results along with a successful bond auction in Spain. The number of people filing unemployment benefits unexpectedly rose to 386K for the week ended April 14th. There was also a revision for the week prior that an additional 8K claims were filed. The data continues to be a sign of lost momentum for the labor market. Existing home sales for March fell for the second consecutive month and missed expectations. Also the Philadelphia Fed Index, which is a gauge of mid-Atlantic manufacturers saw business conditions decline more than anticipated. The only positive out of the economic data here in the U.S. was that leading economic indicators posted their sixth increase in a row for March, slightly beating expectations.
European markets declined despite a somewhat successful bond auction in Spain that many investors had feared. The Stoxx Europe 600 fell 0.5 percent. Spain sold $3.3 billion of two and ten year bonds, just above the upper end of the range the government had targeted, but the yield on the 10 year bond came in higher than at the previous auction. In earnings news Bank of America and Morgan Stanley posted results before the bell that came in above expectations while Microsoft beat earnings projections after the bell. Earnings overall have been positive since the start of reporting season but the S&P and Dow have nearly budged. Investor concern over weak employment data along with fears over Spain have trumped any positive earnings results so far. There are no scheduled economic releases tomorrow in the U.S while on the earnings calendar we have reports from Mc Donald’s and GE. Please call or email me with any questions and comments.

Daily Swing #s ESM2
R2-1400.50
R1-1386.50
Pivot-1376.00
S1-1362.00
S2-1351.50

Daily Swing #s YMM2
R2-13152
R1-13027
Pivot-12932
S1-12807
S2-12712

Daily S&P Report(159)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Wednesday, April 18, 2012

E Mini S&P settles 1378.25 down 5.25

Stock futures ended narrowly mixed on Wednesday after yesterday’s strong rally after earnings results from tech heavyweights IBM and Intel missed expectations. Intel and IBM slumped at least 1.5 percent amid the slowest sales growth since 2009. Equities also dropped as Bank of England policy makers said inflation may be higher than forecast. In the minutes from their last meeting on economic policy, committee members soured on further quantitative easing measures. Adding to more euro drama, Italy may delay by one year its plan to balance its budget and raised its budget deficit forecast. Investors will be keeping a keen eye on tomorrow’s note auction in Spain. They will auction 3.3 percent two-year notes and 5.85 percent 10 year debt tomorrow. In economic news here in the U.S., weekly mortgage applications surged last week as a drop in interest rates boosted demand for refinancing, though purchases fell, according to the Mortgage Bankers Association. Going forward into tomorrow, we will have important earnings releases before and after the bell highlighted by Du Pont, Morgan Stanley, and Bank of America. It is important to note that of the 56 of the S&P 500 companies that posted earnings results so far, 79 percent have topped estimates. We also have a heavy slate of important economic data due out tomorrow highlighted by jobless claims, existing home sales, the Philly Fed survey, and leading indicators. It is my belief that some investors took profits ahead of important economic data released tomorrow along with the impending debt auctions in Spain, and therefore all three indexes posted small losses. Please call or email at anytime with questions or comments.

Daily Swing #s ESM2
R2-1389.75
R1-1383.75
Pivot-1380.75
S1-1374.75
S2-1371.75

Daily Swing #s YMM2
R2-13083
R1-13020
Pivot-12986
S1-12923
S2-12889

Daily S&P Report(158)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Wednesday, April 18, 2012

E Mini S&P settles 1378.25 down 5.25

Stock futures ended narrowly mixed on Wednesday after yesterday’s strong rally after earnings results from tech heavyweights IBM and Intel missed expectations. Intel and IBM slumped at least 1.5 percent amid the slowest sales growth since 2009. Equities also dropped as Bank of England policy makers said inflation may be higher than forecast. In the minutes from their last meeting on economic policy, committee members soured on further quantitative easing measures. Adding to more euro drama, Italy may delay by one year its plan to balance its budget and raised its budget deficit forecast. Investors will be keeping a keen eye on tomorrow’s note auction in Spain. They will auction 3.3 percent two-year notes and 5.85 percent 10 year debt tomorrow. In economic news here in the U.S., weekly mortgage applications surged last week as a drop in interest rates boosted demand for refinancing, though purchases fell, according to the Mortgage Bankers Association. Going forward into tomorrow, we will have important earnings releases before and after the bell highlighted by Du Pont, Morgan Stanley, and Bank of America. It is important to note that of the 56 companies that posted earnings results so far, 79 percent have topped estimates. We also have a heavy slate of important economic data due out tomorrow highlighted by jobless claims, existing home sales, the Philly Fed survey, and leading indicators. It is my belief that some investors took profits ahead of important economic data released tomorrow along with the impending debt auctions in Spain, and therefore all three indexes posted small losses. Please call or email at anytime with questions or comments.

Daily Swing #s ESM2
R2-1389.75
R1-1383.75
Pivot-1380.75
S1-1374.75
S2-1371.75

Daily Swing #s YMM2
R2-13083
R1-13020
Pivot-12986
S1-12923
S2-12889

Daily S&P Report(157)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Tuesday, April 17, 2012

E Mini S&P settles 1383.50 up 19.50

Stock futures rallied across the board posting strong gains buoyed by a strong Spanish debt auction and earnings from blue chip companies that exceeded expectations. The mini Dow Jones futures gained 174 points while the mini NASDAQ erased all of yesterday’s losses to post whopping gain of close to 50 points. Tuesday’s earnings calendar was heavy with results from blue chip companies that didn’t disappoint. Coca-Cola, Kraft, and Goldman Sachs beat expectations before the bell lifting stock futures into positive territory along with a better than expected Spanish bond auction. Also the International Monetary Fund raised its outlook for global economic growth to 3.5 percent for the year, but warned that while prospects have improved in recent months, Europe’s debt crisis along with a rise in oil prices could further an economic downturn. In Europe, Spain sold more debt than it had planned, a sign of healthy demand, easing concerns about the country’s rising cost to borrow. The Stoxx Europe 600 rallied 2 percent on the news as investors gained confidence over the auction as well as an improvement in German economic sentiment. In the U.S., data showed U.S. home construction fell for a second straight month in March, while the number of new housing permits rose to its highest level since September of 2008. In separate reports industrial production was flat for the second straight month in March while capacity utilization slipped in February. Tomorrow we have a busy earnings schedule highlighted by Qualcomm, EBay, and Blackrock. We also have on the economic calendar weekly mortgage applications and energy inventories. Please call or email me with questions or comments.

Daily Swing #s ESM2
R2-1406.75
R1-1395.25
Pivot-1377.25
S1-1365.75
S2-1347.75

Daily Swing #s YMM2
R2-13224
R1-13124
Pivot-12970
S1-12870
S2-12716

Daily S&P Report(156)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Monday, April 16, 2012 at 2:53 PM

E Mini S&P settles 1364.00 down 1.00

Stock futures ended Monday decidedly mixed as a strong retail sales number lifted the mini Dow futures contract 62 points higher, however a drop in Apple shares of over four percent sent the tech heavy NASDAQ spiraling lower, losing one percent for the day. The e mini S&P lost just a point in trading. In economic news, the March reading of Retail Sales was much better than expected, up 0.8 percent month on month for all sales and up 0.8 percent for sales less Autos. The results for February were revised down one tenth, but remained firm at one percent. Other data this morning was less encouraging as U.S. home builders’ confidence in the housing market fell in April for the first time in seven months and fell short of expectations. Also New York manufacturing activity slowed sharply in April, although employment data improved, according to the Federal Reserve Bank of New York. European markets ended mostly higher, with the Stoxx Europe 600 rising 0.3 percent as the U.S. retail sales data and some positive corporate news helped offset worries about Spain. Tomorrow morning’s economic releases include housing starts and industrial production. More importantly we have earnings releases from Coca-Cola, Goldman Sachs, IBM, Intel, and Yahoo. Please call or email me with questions or comments.

Daily Swing #s ESM2
R2-1381.50
R1-1372.75
Pivot-1366.50
S1-1357.75
S2-1351.50

Daily Swing #s YMM2
R2-13018
R1-12934
Pivot-12841
S1-12757
S2-12664

Daily S&P Report(155)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Monday, April 16, 2012 at 2:53 PM

E Mini S&P settles 1364.00 down 1.00

Daily Swing #s ESM2
R2-1381.50
R1-1372.75
Pivot-1366.50
S1-1357.75
S2-1351.50

Daily Swing #s YMM2
R2-13018
R1-12934
Pivot-12841
S1-12757
S2-12664

Weekly S&P Report(55)

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

E Mini S&P settles 1365.00 down 25.25
For the week ended (4/9-4/13)

Stock futures fell for a second straight week with the S&P 500 posting its first back to back weekly decline since November, as ongoing signs of weakness overseas and mixed economic data in the U.S. kept investors on edge. For the week, the mini Dow futures lost 190 points, while the mini S&P posted a two percent loss. The CBOE volatility index, widely considered the best gauge of fear in the market, soared to finish above 19. This week’s declines came even as the S&P 500 had its best two day gain of the year on April 11th and 12th sparked by optimism about earnings and signals from the Fed that interest rates will remain low. The S&P has fallen 2.7 percent in April so far and is poised for the biggest monthly loss since September. The index just came off the best first quarter performance since 1998, posting a 12 percent gain. Last Friday’s dismal jobs numbers combined with Thursday’s rise in jobless claims were the main culprits for the sell-off this week. Geopolitical concerns weighed in as well however as Chinese growth slowed in the first quarter. China announced that its economy expanded 8.1 percent in the first quarter, the slowest pace since 2009. There were whispers in the market on Thursday that the Chinese GDP data could come in closer to nine percent, spurring a rally of over one percent in the S&P and Dow. This was classic “buy the rumor sell the fact”, as the data missed expectations coming in lower. In other news Friday U.S consumer sentiment declined in early April, hurt by rising gas prices, according to a survey by the University of Michigan and Reuters. Federal Reserve Chairman Ben Bernanke spoke at a conference in New York on Friday but refrained to discuss the current state of the economy or measures to spur growth. In fact there were plenty of speeches by Fed Governors during the week, expressing mixed views about maintaining low interest rates until 2014. In a separate report out of the EU, Spanish banks had borrowed heavily from the European Central Bank in March, underlying the continuing difficulties peripheral institutions are having in securing funding. A surge in Spanish and Italian bond yields this week fueled concern Europe’s debt crisis is worsening.

Going forward next week, nearly a fifth of the S&P 500 company’s report including blue chips IBM, Microsoft, Coca-Cola and McDonald’s. Big banks report as well highlighted by Citigroup and Bank of America. On the economic front, there are March retail sales, industrial production, existing home sales, and weekly jobless claims. Europe will stay in the headlines as Spain issues bills Tuesday and longer dated securities Thursday, and investors will be watching to see if the auctions fare better than the auctions a few weeks prior. Also, European Central Bank President Mario Draghi speaks at the ECB statistics conference on Tuesday morning. Technical’s come in as follows for the mini S&P next week. Support is down first at 1349.00, and with a close under 1332.75. Resistance is up at 1385.00 and with a close over next level up is at 1404.00. Please call or email me at anytime with questions or comments.

Daily Swing #s ESM2 (4/16)
R2-1397.25
R1-1381.25
Pivot-1372.50
S1-1356.50
S2-1347.75

Weekly S&P Swing #s (4/16-4/20)
R2-1404.00
R1-1385.00
Pivot-1368.75
S1-1349.00
S2-1332.75

Daily Swing #s YMM2 (4/16)
R2-13040
R1-12913
Pivot-12844
S1-12717
S2-12648

Weekly Swing #s YMM2 (4/16-4/20)
R2-13125
R1-12956
Pivot-12802
S1-12633
S2-12479

Daily S&P Report(154)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Thursday, April 12, 2012

E Mini S&P settles 1386.00 up 22.00

Stock futures rallied for a second day in a row on Thursday as speculation from a potential rise in GDP figures out of China led the market higher, despite mixed news on the economy at home. Rumors that Chinese GDP data that it is to be released tonight, could come in at nine percent, rather than the expected 8.4 percent lifted investor hopes that the Chinese economy would not suffer a dramatic economic downturn. These rumors lifted sentiment more than the economic data here in the U.S. that saw weekly jobless claims increasing 13K to a seasonally adjusted 380K, rising to its highest level since January. The four week moving average for new claims, considered a better measure of labor trends rose to 368,500. More importantly for market participants, Fed Vice -Chairwoman Janet Yellen made an argument for keeping short term interest rates near zero until late 2014 and held out the possibility for more bond purchases by the central bank if the economy falters. Federal Reserve Bank of New York President William Dudley said Thursday it was too soon to say the U.S. economy was out of the woods, helping to reinforce the Fed’s current ultra-accommodative policy stance. These comments were seen as friendly to more easing measures and in sharp contrast to the minutes of the Fed’s last meeting. Please keep in mind that Chairman Bernanke is speaking tomorrow along with the release of the CPI data along with consumer sentiment. Please call or email me at anytime with questions or comments.

Daily Swing #s ESM2
R2-1401.75
R1-1393.75
Pivot-1378.50
S1-1370.75
S2-1355.50

Daily Swing #s YMM2
R2-13098
R1-13023
Pivot-12880
S1-12805
S2-12662

Daily S&P Report(153)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Wednesday, April 11, 2012 at 3:04 PM

E Mini S&P settles 1364.00 up 7.00

Stock futures bounced higher today breaking a five day losing streak after a strong start to earnings season and a drop in Spanish and Italian borrowing debt. All ten S&P sectors ended the day in positive territory led by the financial sector. The mini Dow Jones contract gained 68 points today aided by positive earnings results by Alcoa. All three benchmark indexes were buoyed by the results of the Fed’s Beige Book summary of national activity. The report said the U.S. economy expanded at a moderate pace in recent weeks. However the Central Bank raised concerns that higher gasoline prices were beginning to worry producers and consumers across the country.
On the economic front, import prices rose 1.3 percent in March, logging its biggest gain in nearly a year. Economists were looking for a rise of only 0.8 percent. Weekly mortgage applications slipped last week as refinancing demand declined, according to the MBA. European shares closed higher halting a one week slide. Investors will be focused on tomorrow’s bond auction in Italy. The euro rose slightly against the greenback today. Going forward tomorrow, we have important economic data highlighted by PPI, jobless claims, and speeches by two Fed Governors. Please call or email at anytime with questions or comments.

Daily Swing #s ESM2
R2-1377.00
R1-1370.50
Pivot-1364.00
S1-1357.00
S2-1351.00

Daily Swing #s YMM2
R2-12837
R1-12790
Pivot-12738
S1-12691
S2-12639

Daily S&P Report(152)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Tuesday, April 10, 2012 at 3:18 PM

E Mini S&P settles 1357.00 down 18.00

Stock futures posted their worst one day decline for 2012 as continued worries over the health of the global economy had investors selling into all three major indexes for a fifth straight day. The mini Dow Jones futures contract lost 180 points in trading, while the e mini S&P fell through support levels to close below a 50 day moving average at 1370.00, and just a below a major trend line and weekly support at 1358.00. The CBOE volatility index, widely considered the best gauge of fear in the market, jumped near 20. The selloff began last week as minutes from the Fed’s last meeting indicated that the Fed was through with more easing measures. It continued with a very disappointing March jobs number released on Friday and continuing concerns over the economic health of the euro zone and China. Yields on 10 year Spanish bonds jumped to the highest level of the year, while Italian 10 year yields gained near the highest level in almost ten months. Consequently European shares hit a 12 week low today. China released a trade report this morning that put global indices on the defensive as GDP growth there is on course for its slowest expansion in a decade. On the economic front in the U.S, wholesale inventories rose more than expected in February to 0.9 percent to a record $478.9 billion, according to the Commerce Department. This beat expectations for a 0.5 percent gain. However small business confidence slipped for the first time in six months, further supporting the notion that economic growth slowed in the first quarter. The economic calendar is heavier tomorrow with speeches by Fed Governors along with the release of the Fed’s Beige Book. Please call or email at anytime with questions or comments.

Daily Swing #s ESM2
R2-1391.50
R1-1374.00
Pivot-1363.25
S2-1345.75
S1-1335.00

Daily Swing #s YMM2
R2-12993
R1-12836
Pivot-12742
S1-12585
S2-12491

Daily S&P Report(151)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Monday, April 09, 2012

Stock futures opened significantly lower Monday morning but pared losses into the afternoon as traders await important economic data and ahead of earnings season. This comes after Friday’s weak jobs report that put doubt with many investors on the pace of the labor market recovery. Non-farm payrolls increased 120K in March, the Labor Department reported on Friday. The results snapped a three month streak of 200K plus job growth. Economists had expected gains of about 205K which was badly missed. However, the unemployment rate fell to 8.2 percent from February’s 8.3 percent, beating expectations of an unchanged reading and making it the lowest rate since January 2009. But the decline largely reflected that people once counted as unemployed , are no longer counted simply due the fact they have given up looking for jobs.
Today’s pullback followed the biggest weekly decline of the year for all three indexes amid concerns about European sovereign debt woes. All ten S&P 500 sectors retreated to start the week with material and industrial sectors leading the way lower. Overseas markets were lower after Friday’s dismal jobs numbers with the Nikkei dropping over 1.5 percent. China’s Shanghai Composite declined 0.9 percent, snapping a three day winning streak, as a bigger than expected increase in China’s inflation added to concerns. Looking ahead, Federal Reserve Chairman Ben Bernanke is slated to speak at a conference in Georgia after the market closes. Investors will be looking for clues for further prospects of another round of QE from the Fed following Friday’s weak data. On Tuesday after the bell, Alcoa is due to report first quarter earnings. The aluminum maker’s report signals the unofficial start of the corporate earnings season. Technical levels for the mini S&P come in as follows for the week. Resistance is up first at 1394.50 and then way up at 1434.00. Support is down at 1358.75 and with a close under 1342.50 the next level down. Please call or email me at anytime with questions or comments.

Weekly S&P Report(54)

Weekly S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Thursday, April 05, 2012 at 3:18 PM

E Mini S&P settles 1390.25 down 3.00

Stock futures finished this holiday shortened week slightly lower as many traders were reluctant to jump into the market before Friday’s monthly jobs report. Worries over the euro zone were dominant again this week after being put on the back burner for the last few weeks. For the week, all three major averages logged their worst declines of the year. The CBOE volatility index, considered the best gauge of fear in the market, ended above 16. Markets were pressured for most of the week after minutes from the Fed’s latest meeting indicated that policymakers soured on another round of quantitative easing. The news from the minutes sank many commodity sectors especially metals and energies along with S&P and Dow futures. The lack of further commitment from the Fed was a signal to many investors that the stock indexes will have to stand on their own merit, therefore making economic data that much more important. Adding to market uncertainty this week, new signs emerged in the euro zone that the debt ridden region may see another recession. Sentiment was further dampened by Spain and France’s poor bond auctions. In fact there are mounting concerns in Spain over the economy there as Spanish borrowing costs are now at levels last seen before the first of the ECB’s two long-term refinancing operations, or LTRO’s which have been widely credited with soothing Europe’s sovereign debt crisis. Stay tuned. Investors should also keep in mind that first quarter earnings will be closely watched as well and that begins Tuesday with Alcoa leading off.

In economic news today weekly claims for unemployment benefits fell by 6K in the last week, to a seasonally adjusted 357K, according to the Labor Department. Also the number of planned layoffs at U.S. firms fell to its lowest level in ten months. The employment reports come ahead of the government’s key March jobs report, due out tomorrow morning Good Friday. The stock market is closed tomorrow along with many commodity markets. The stock indices will only be open tomorrow for the number but will be closing at 8:30 am central time. Pre- report estimates for tomorrow’s jobs numbers expect a gain of 205K jobs for the non- farm number, with the private sector coming in with a gain of 218K. The unemployment rate is supposed to remain unchanged at 8.3 percent. Going forward into next week, we have Fed speakers giving speeches everyday along with Chairman Bernanke speaking on Monday and Friday. Earnings season starts Tuesday with Alcoa reporting after the bell. We also inflation data out next Thursday and Friday along with consumer confidence. First and foremost will be tomorrow’s jobs data and what revisions to prior months if any will there be. I will not be posting daily and weekly numbers due to tomorrow’s abbreviated session and the non-farm number and instead wait until Monday. Please call or email me at anytime with questions or comments.

Daily S&P Report(150)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Tuesday, April 03, 2012

E Mini S&P settles 1408.75 down 3.75

Stock futures traded both sides of the range Tuesday only to rebound on the close, following the release of the latest Fed meeting minutes that showed little enthusiasm for further QE. Minutes released this afternoon from the Fed’s last meeting seemed to suggest that support for another round of quantitative easing might have soured. Despite those comments, Fed members remained cautious about the domestic and global economic recovery. While Fed officials are prepared to buy or sell assets “as appropriate to promote a stronger economic recovery,” the minutes didn’t show widespread agreement for doing so soon. The negative bias on more QE3 sank stock futures in minutes , however they were bought back in the last 30 minutes of trading, with the mini S&P posting just a 3.75 point loss while the mini Dow fell just 57 points.
In U.S. economic data, orders for factory goods rose in February, just missing projections, on rising demand for aircraft and computers. European markets were broadly lower. The Stoxx Europe 600 fell 1.1 percent as the Spanish government presents details of its 2012 budget plans. The focus in the euro zone’s long running debt crisis has begun to shift whether Spain can cut its deficit while battling with a slumping economy and soaring unemployment. Investors should stay tuned here as the crisis in Europe has not gone away despite being on the backburner for the last few weeks. There is more important data out tomorrow morning with the first look at the March employment numbers from private forecasters ADP and Challenger. We also have the ISM non-manufacturing index and comments from Fed Governors. Please call or email me at anytime with questions or comments.

Daily Swing #s ESM2 (4/4)
R2-1422.50
R1-1415.50
Pivot-1407.75
S1-1400.75
S2-1393.00

Daily Swing #s YMM2 (4/4)
R2-13268
R1-13199
Pivot-13131
S1-13062
S2-12994

Daily S&P Report(149)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Monday, April 02, 2012

E Mini S&P settles 1412.50 up 9.25

Stock futures traded just below multi year highs on the first day of the new quarter Monday after a better than expected reading on domestic manufacturing. The mini Dow futures contract traded up to 13229, which was 16 points away from four year highs, before falling back on the close. The e mini S&P posted strong gains throughout much of the day, with all ten sectors posting gains to start the quarter. There were two economic releases released this morning that pushed markets higher. The U.S. manufacturing sector’s expansion continued in March and employment in that sector picked up, according to data released by the Institute of Supply Management. However spending on construction projects in the U.S. fell for the second straight month in February, showing the sector is struggling to build on momentum late last year. The drop was the biggest since July and fell short of economists’ average forecast for an increase. In Europe, the Stoxx Europe 600 index gained 1.5 percent with the U.S. manufacturing data providing a boost. In Asia, indexes were mixed following a reading of Chinese manufacturing activity. The government’s survey showed a strong expansion in activity in March, but that was in contrast to readings of contraction shown by an HSBC survey a week ago. Looking to tomorrow we have factory orders and auto sales scheduled to be released along with the minutes from the last Fed meeting. Please call or email me with any questions or comments.

Daily Swing #s ESM2 (4/3)
R2-1428.50
R1-1420.50
Pivot-1409.75
S1-1401.75
S2-1391.00

Daily Swing #s YMM2 (4/3)
R2-13313
R1-13250
Pivot-13166
S1-13103
S2-13019

Weekly S&P Report(53)

Weekly S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Friday, March 30, 2012 at 3:57 PM

E Mini S&P settles 1403.25 up 9.25
For the week ended (3/26-3/30)

Stock futures rose on Friday aided by positive data on consumer spending, as the Dow and S&P posted their biggest first quarter gains since 1998. For the quarter the mini Dow gained 1,060 points or just over eight percent. While the mini S&P gained 156 points or just over 11 percent amid signs of a strengthening U.S. economic recovery. For the week the mini Dow posted a gain of 110 points while the mini S&P gained 9.25 points. U.S. consumers increased spending in February even as incomes rose modestly, according to data released Friday by the Commerce Department. Meanwhile, a reading on consumer sentiment in March came in at 76.2 besting the consensus number of 74.5. In other news a closely watched reading on inflation, core PCE, was in line with expectations for a quarterly rise of 1.3 percent. In Europe shares rallied after the euro zone raised the combined lending ceiling for their two bailout funds to 700 billion Euros from 500 billion, according to the region’s finance ministers. The CBOE volatility index, widely considered the best gauge of fear in the market, ended above 15.
Going forward the March jobs report will be the most anticipated number investors will watch next week. The problem is that the report will be released on Good Friday, when the stock market is closed. Electronic futures and the bond market will have shortened trading sessions that day, but one has to wonder why the employment number hasn’t been postponed until the following Friday. In any event, I will post pre report guesstimates for both the non-farm payroll number and private sector employment later next week. Besides the monthly jobs report, there is a steady stream of important economic data all week long that will show updated news on manufacturing and the consumer. The important headlines will be March auto sales, chain store sales, the ISM manufacturing survey, weekly jobless claims, plus the contents of minutes of the Fed’s last meeting. Technical’s for next week in the mini S&P come in as follows. Support comes in first 1386.25 and then down at 1369.50. Resistance comes in at 1419.75 and then up at 1436.50. Please call or email at anytime with questions or comments.

Daily Swing #s ESM2 (4/2)
R2-1412.75
R1-1407.75
Pivot-1401.75
S1-1397.25
S2-1391.25

Weekly Swing #s ESM2 (4/2-4/6)
R2-1436.50
R1-1419.75
Pivot-1403.00
S1-1386.25
S2-1369.50

Daily Swing #s YMM2 (4/2)
R2-13213
R1-13177
Pivot-13122
S1-13086
S2-13031

Weekly Swing #s YMM2 (4/2-4/6)
R2-13397
R1-13269
Pivot-13117
S1-12989
S2-12837

Daily S&P Report(148)

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Wednesday, March 28, 2012 at 3:06 PM

E Mini S&P settles 1400.25 down 6.25

Mini S&P and mini Dow futures contracts experienced a wide range decline on Wednesday’s session that took prices down to a three day low. The market traded higher during the initial morning hours but reversed course into this morning’s flow of U.S. economic data. On the economic front, durable goods orders rose less than expected at 2.2 percent in February, while future business investment also missed forecasts, according to the Commerce Department. Economists polled by Reuters had expected orders climbing 3.0 percent. Economic growth in the UK also contracted more than expected in the fourth quarter. The ECB said private sector loan growth for the euro zone slowed 0.7 percent in February. All three benchmark indexes tumbled over one percent at their session lows today with some economists suggesting that the soft U.S. economic data raised doubts about the recovery in the manufacturing sector, and that was also seen as a force lowering first quarter growth forecasts. However, all three major indexes rebounded in the last hour of trading to post smaller losses. Volume was again anemic and any recent short specs covered on the close in front of tomorrow’s economic releases. Tomorrow’s economic release schedule is highlighted by jobless claims and GDP released at 7:30 central along with speeches given by Fed Presidents Plosser and Lacker later in the day. Please call or email me with any questions or comments.

Daily Swing #s ESM2 (3/29)
R2-1421.75
R1-1411.00
Pivot-1401.75
S1-1390.75
S2-1381.25

Daily Swing #s YMM2 (3/29)
R2-13251
R1-13151
Pivot-13077
S1-12977
S2-12903

Copyright © 2012 PFGBEST® Futures Training Division • One Peregrine Way • Cedar Falls, IA 50613 • 800.542.1022

There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products.
Past performance is not indicative of future results