Daily Market Outlook, report, market, sp 500, russell 2000, nasdaq 100, dji, nyse, market report,Wednesday, May 23, 2012

SPY. SPY Options. - Daily Market Outlook, report, market, sp 500, russell 2000, nasdaq 100, dji, nyse, market report,Wed

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Wednesday, May 23, 2012

Market Performance

The broad market advanced modestly today. The Russell 2000 outperformed other indexes by climbing up 0.71% while the DJI lost 0.07%. Of the last 18 sessions, the DJI has closed red 15 times. The Russell 2000 made a new one-week high today. The S&P 500 saw its highest close in one weeks today. The NASDAQ 100 pushed to new one-week high today.

Today, the S&P 500's daily volume was 3,079 million shares. This average was 15% higher that the average daily volume for the past 3 months.

Index	Change	Open	High	Low	Close	Volume	Advances	Declines	Adv/Dcl Ratio
NYSE Comp.	2.43(0.03)	7,492.90	7,547.05	7,404.88	7,540.51	0K	0	0	0.00
DJI	8.63(0.07)	12,501.52	12,508.30	12,311.56	12,495.77	0K	0	0	0.00
S&P 500	2.10(0.16)	1,316.02	1,320.71	1,296.53	1,318.83	0K	0	0	0.00
Russell 2000	5.42(0.71)	755.06	766.18	748.16	765.19	0K	0	0	0.00
Nasdaq 100	7.88(0.31)	2,534.65	2,553.19	2,499.30	2,547.08	0K	0	0	0.00

* Volume and advance decline data are available to subscribers only.

Short-Term Market Outlook

5-day charts (1 bar = 5 minutes) with a 20-period SBV are showing advancing SBV oscillator readings at session's end. Positive money flow on this chart would suggest the possibility of positive trading tomorrow after the market open. 15-day charts (1 bar = 15 minutes) with a SBV(16) and 30-day charts (1 bar = 30 minutes) with a SBV(13) are showing positive money flow (advancing SBV) as well. Overall, these charts are in favor of the bulls.

It is worth mentioning about strong bullish volume at the end of today's trading session. While money flow suggest higher odds of having positive trading session tomorrow, we should be cautious as this bullish volume may reverse the indexes down. Yet, we would not expect to see it while we see advancing money flow (SBV Oscillator) readings on the 30-day charts.

Longer-Term Market Outlook

60-day charts with a 20-period SBV are now showing advancing SBV oscillator readings. The following SBV values were recorded at session's end: plus 18% on the S&P 500, plus 19% on the DJI, plus 16% on the NASDAQ 100 and plus 15% on the Russell 2000. Advancing SBV readings are bullish and suggest the possibility of a up-move. We will continue to monitor this chart setting in order to determine at which point SBV oscillator readings start to decline; this might then suggest increased odds for a coming move to the downside.

1.5-year charts with a 10-period SBV are showing advancing SBV Oscillator readings on the S&P 500 index and flat readings on the DJI, on the NASDAQ 100 and on the Russell 2000 indexes. The negative SBV values seen on this chart are bearish. Overall, this chart reflects bearish longer-term market sentiment.

Coming Economic Reports

Release Date/Time	Economic Report	For Period	Consensus	Previous
05/24/2012 8:30:00 AM	Continuing Claims	19-May	3250K	3286K
05/24/2012 8:30:00 AM	Durable Orders	Apr	0.3%	-3.7%
05/24/2012 8:30:00 AM	Durable Orders ex Transportation	Apr	1%	-0.8%
05/24/2012 8:30:00 AM	Initial Claims	19-May	365K	372K

Financial Press

From Reuters:

Stocks staged a late-day reversal on Wednesday, rallying into the close in another volatile session as a sharp rise in materials shares boosted the S&P 500 and gains in Apple (NSQ:AAPL - News) helped lift the Nasdaq.

From AP:

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SPY. SPY Options. - Daily Market Outlook, report, market, sp 500, russell 2000, nasdaq 100, dji, nyse, market report,Wed

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