Daily Market Analysis - Monday, 11 July 2011

Friday, 8 July 2011 AMC

Dow	12,657.20	-62.29	-0.49%

Nasdaq	2,859.81	-12.85	-0.45%

S&P 500	1,343.80	-9.42	-0.70%

Russell 2000	852.57	0.00	0.00%

Friday, 8 July 2011 Economic Data

8:30am	USD		Non-Farm Employment Change		18K	97K	25K
8:30am	USD		Unemployment Rate		9.2%	9.1%	9.1%
8:30am	USD		Average Hourly Earnings m/m		0.0%	0.2%	0.3%
10:00am	USD		Wholesale Inventories m/m		1.8%	0.6%	1.1%
10:30am	USD		President Obama Speaks
3:00pm	USD		Consumer Credit m/m		5.1B	5.1B	5.7B

What move the market ?

1. Official payrolls report disappoints
2. Dollar rebounds after morning drop
3. Oil prices tumble, but gold garners support

Read more: http://briefing.com/investor/markets/stock-market-update/#ixzz1RkxZEZDh

Monday, 11 July 2011 Economic Data
- no data today


News

• A closely watched meeting between congressional leaders and President Barack Obama to resolve the impasse over the U.S. debt ceiling ended Sunday far more quickly than expected, with no immediate word of progress, according to reports
• Reuters added that Obama was slated to hold a press conference Monday at 11 a.m. U.S. Eastern time ahead of the next round of talks. 
• Sunday’s gathering came a day after House Speaker John Boehner said Republicans would avoid a deal on a proposed $4 trillion package of cuts in favor of a small package of $2 trillion in reductions.
• Australia stocks fall, hit by carbon-tax details

Summary

1. There's 3 way the market can move: up, down and sideways.
2. It could be another "down friday down monday" market realise the needs for correction. Bear finally out to hunt.
3. Conrad mentioned in his daily market analysis (http://www.patterntradertools.com/index.php/friday-08-july-2011-amc/). check out this article - weak June nonfarm payrolls report will spur the Federal Reserve to launch a third round of asset purchases, known as quantitative easing, sometime this fall (http://www.marketwatch.com​/story/fed-will-launch-qe3​-by-fall-expert-says-2011-​07-08)
4. There's FOMC meeting minutes plus uncle ben talks which probably cause the market to wait and see today making it flat.
5. Obama to resume the talk with congress at 11am Eastern time, outcome of the talk probably drive today's market.

Monday, 11 July 2011 Market Direction : Down


Accuracy : (4/7)

PS : check out Conrad's article on China's Economic - http://www.conradalvinlim.com/2011/07/china-a-new-kind-of-economic-failure-in-the-making/