Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for April 2, 2012
Hello Traders,
Wishing all of you a great trading month in April.
May your trading have PATIENCE and DISCIPLINE!!
Market Week Wrap-up provided by www.TradeTheNews.com
– The final week of trading in the first quarter was subdued, as analysts celebrated just how well the stock market performance has been over the last three months. European stocks were had their best quarter since 2009, up 7%, while Japan’s Nikkei index rose nearly 20% in the quarter, for its best performance in 24 years. MSCI’s benchmark emerging equity index was up 13.7% on the year. In the US, the S&P500 rose 12%, for its best quarterly performance since Q3 2009, while the DJIA had its best Q1 since 1998. After the big run up in the quarter, investors continue to wonder how sustainable the rally really is and where the fuel for more upside will come from. Market mavens are still betting the Fed will cart out QE3 in the months ahead and in comments this week Chairman Bernanke affirmed accommodative policy must continue. He noted that though the data is getting more encouraging the recovery is not yet self sustaining, and that policy options remain on the table if things get worse. Final Q4 US GDP met most expectations at +3.0%, however there were some worrying signs in durables and other manufacturing numbers. Three regional Federal Reserve banks published much weaker than expected March manufacturing activity indices: data from the Dallas, Kansas City and Richmond Fed were notably weak, with poor showings in the new orders subcomponents. In addition, the March Chicago PMI survey was also soft. The February headline durable goods orders number was weaker than expected at +2.2%, hardly making up for January’s -3.6% figure. In Europe, German officials finally gave in to pressure and agreed to a stronger EFSF/ESM firewall fund, amounting to a grand total of €800B, just in time for heightened tensions in Spain, where the government insisted that it did not need to consider a bailout for its banking system or request access to emergency funds. In energy markets, crude prices fell as western power continued consultations on releasing strategic reserves should the Iran situation worsen. WTI crude, which nearly hit $109 last week, was down to $103 by Friday. Equity weakness in China helped lower prices for industrial metals somewhat, although copper prices still closed out Q1 up 11%. The DJIA, S&P500 and the Nasdaq all rose approximately 1% on the week. Continue reading “Market Weel Wrap Up | Support and Resistance Levels”
