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  • Morning update:

    WASHINGTON (MarketWatch) -- Businesses stepped up their demand in July for capital equipment, the Commerce Department reported Wednesday. Core capital equipment orders rose 2.5%, the government said. Overall new orders rose 1.3% in July, compared with 1% ...
  • Pre-open:

    NQ does a flush down to 1836.25, 76.4% Jun/Jul and manages to get back above 1846. ES is back to trading above 1272 after hitting 1268.50. Bonds are at par, oil is below 109, so this drop feels a little out of synch. If we are to really sell-off today, ES...
  • Semiconductor sales

    SAN FRANCISCO (MarketWatch) -- Semiconductor sales in the Asia-Pacific region jumped in July, outpacing other regions and the overall market, according to the Semiconductor Industry Association.With NDX holding 1842.25 (61.8% Jul/Aug, 1846 for NQ), this n...
  • Closing hour:

    We make new lows, but ES holds 1272, its 50 dma and NQ 1846, 61.8%. Financials are still green as is housing and retail. Semis are down. Watch NQ 1851.50 and ES 1276 on any bounce. Bonds have a bid, pushing TNX below 3.77% support.If ES and NQ hold the ab...
  • PM update:

    They drive NQ all the way down to the trendline off July's low (1855) and a hair above weekly S1 (1851.50). I expect his level to hold, if not bulls are in real trouble....
  • Morning update:

    ISM data under 50, which is quite bearish and the bid dries up. NDX/QQQQ found resistance at their 20 dma's. Watch 200 dma (1902)on a pullback....
  • Pre-open:

    Oil drops 7.5% and NQ closes Friday's gap. Everything seems to be lined up for a bullish day. We await ISM and construction spending at 10....
  • The beleaguered British pound

    LONDON (MarketWatch) -- The beleaguered British pound accelerated its recent fall, plunging to its lowest level against the U.S. dollar since April 2006 after U.K. Chancellor of the Exchequer said the economic environment is the most difficult in 60 years...
  • Monday's overnight session:

    Gustav did not drive oil prices higher and the NQ open is positive, holding the key 1874 level. Weekly pivot is 1886. ES support is 1282.Watch ZN (chart) as it has been holding 200 dma support and now back above 50% 2008. The key to any sustainable equity...
  • Overnight session:

    Gustav did not drive oil prices higher and the NQ open is positive, holding the key 1874 level. Weekly pivot is 1886. ES support is 1282. A better sense of direction will come when bonds open....
  • Crude oil fell

    Sept. 1 (Bloomberg) -- Crude oil fell, reversing earlier gains, after Hurricane Gustav weakened, easing concern of widespread damage to drilling rigs and refineries. Gustav has been downgraded to a Category 2 storm, the second-weakest of the five levels...
  • Open

    Gap down open. NQ 20 dma is at 1303.25, ES at 944. The expected hangover is taking place, the key will be for bulls to not let it get out of control. AD Lines are -710 as we approach the 10 am turn. Nothing very dramatic so far. RIMM is a standout, up 4....
  • Morning update (2):

    Another choppy day, with Banking, Retail, Housing up and Semis and oil down. The bond bid has increased a little pushing a roadblock on any bounce so far. TNX could be headed for 3.685% if today's yield low does not hold. ADVDEC lines are not suggesting a...