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business newsBank Failure Friday Returns With a Vengeance
By
Richard Suttmeier
Jul 12, 2010 9:20 am
Four more banks close, including Bay National Bank and USA Bank -- on pace to reach the 150 to 200 range for 2010.
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Editor's Note: This article was written by Richard Suttmeier, chief market strategist at ValuEngine.com, which is a fundamentally-based quant research firm in Princeton, New Jersey, that covers more than 5,000 stocks every day.
10-Year Note -- Semiannual and quarterly supports are 3.479 and 3.486 with my annual pivot at 2.999, and daily, weekly, annual, quarterly, and semiannual resistances at 2.935, 2.858, 2.813, 2.495, and 2.249. The low yield for the move was 2.879 set on July 1, and was a failed test of my 2.999 and 2.813 annual risky levels. The US Treasury sells $34 billion in 3-Year notes today, $21 billion 10-Year notes on Tuesday, and $3 billion 30-Year bonds on Wednesday.
Source: Thomson / Reuters
Comex Gold -- Daily and quarterly supports are $1184.0 and $1140.9 with annual support at $1115.2. My weekly and semiannual pivots are $1210.3 and $1218.7 with semiannual and monthly resistances at $1260.8 and $1279.3. The all-time high of $1266.5 set on June 21 was a test of June’s monthly resistance, as a significant top for gold.
Source: Thomson / Reuters
Nymex Crude Oil -- Daily and quarterly supports are $71.05 and $56.63 with weekly and annual pivots at $76.93 and $77.05, and monthly and semiannual resistances at $79.36 and $83.94. The 200-day simple moving average provides a resistance at $77.27.
Source: Thomson / Reuters
The Euro -- Weekly support is 1.2422 with my monthly pivot at 1.2670, a daily resistance at 1.2773, and the 200-day simple moving average at 0.3731! Monthly and quarterly supports are 1.2035 and 1.1424.
Source: Thomson / Reuters
Daily Dow: Daily and weekly supports are 9,719, 9,635 with the 21-day, 50-day, and 200-day simple moving averages at 10,138, 10,304, and 10,365, and my annual pivot at 10,379. MOJO is rising so the daily chart is positive with closes above the 21-day. Semiannual and monthly resistances are 10,558 and 10,891 after my annual resistance at 11,235 was tested at the April 26 high at 11,258, which marked the end of the bear market rally that began in March 2009. We're in the second leg of the multi-year bear market that began in October 2007 targeting 8,500 before 11,500.
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Source: Thomson / Reuters
10-Year Note -- Semiannual and quarterly supports are 3.479 and 3.486 with my annual pivot at 2.999, and daily, weekly, annual, quarterly, and semiannual resistances at 2.935, 2.858, 2.813, 2.495, and 2.249. The low yield for the move was 2.879 set on July 1, and was a failed test of my 2.999 and 2.813 annual risky levels. The US Treasury sells $34 billion in 3-Year notes today, $21 billion 10-Year notes on Tuesday, and $3 billion 30-Year bonds on Wednesday.
Source: Thomson / Reuters
Comex Gold -- Daily and quarterly supports are $1184.0 and $1140.9 with annual support at $1115.2. My weekly and semiannual pivots are $1210.3 and $1218.7 with semiannual and monthly resistances at $1260.8 and $1279.3. The all-time high of $1266.5 set on June 21 was a test of June’s monthly resistance, as a significant top for gold.
Source: Thomson / Reuters
Nymex Crude Oil -- Daily and quarterly supports are $71.05 and $56.63 with weekly and annual pivots at $76.93 and $77.05, and monthly and semiannual resistances at $79.36 and $83.94. The 200-day simple moving average provides a resistance at $77.27.
Source: Thomson / Reuters
The Euro -- Weekly support is 1.2422 with my monthly pivot at 1.2670, a daily resistance at 1.2773, and the 200-day simple moving average at 0.3731! Monthly and quarterly supports are 1.2035 and 1.1424.
Source: Thomson / Reuters
Daily Dow: Daily and weekly supports are 9,719, 9,635 with the 21-day, 50-day, and 200-day simple moving averages at 10,138, 10,304, and 10,365, and my annual pivot at 10,379. MOJO is rising so the daily chart is positive with closes above the 21-day. Semiannual and monthly resistances are 10,558 and 10,891 after my annual resistance at 11,235 was tested at the April 26 high at 11,258, which marked the end of the bear market rally that began in March 2009. We're in the second leg of the multi-year bear market that began in October 2007 targeting 8,500 before 11,500.
Source: Thomson / Reuters
No positions in stocks mentioned.
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