Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

Friday, February 03, 2012 at 4:38 PM

E Mini S&P settles 1339.00 up 26.50

For the week ended (1/30-2/3)

Stock futures surged after the U.S. economy added more jobs than expected last month, pushing the NASDAQ composite to an eleven year high and pushing the Dow within reach of its highest reading in almost four years. The mini Dow futures rallied 127 points or 1.2 percent today, its highest close in 2012, and to its highest level since May of 2008. The mini S&P 500 added over 16 points in trading today, making new highs for 2012, for a 1.6 percent daily gain and fifth straight weekly gain. The mini NASDAQ gained 32 points  and is off to its best start since 1991. Nine out of the ten S&P 500 sectors rose Friday, with financials and consumer discretionary stocks leading the way. Friday’s gains followed a strong report from the U.S. Labor department. January data showed non-farm payrolls rose 243K last month, marking the biggest gain since April. The jobless rate fell from 8.5 percent to 8.3 percent, the lowest it has been since February 2009. Stocks popped higher after the report and stayed that way the rest of the day, posting a high of 1342.00 in the mini S&P in the last half hour of trading. The payroll number today of 243K, beat even the most bullish of estimates, as most economists had the rate staying put at 8.5 percent and the non- farm number at plus 150K. Meanwhile, the U.S. nonmanufacturing sector expanded at a faster rate in January, according to data released Friday by the Institute for Supply Management. Factory orders came in lower than expectations, rising for the second straight month by 1.1 percent, though unfilled orders, a sign of future demand, surged 1.4 percent, the biggest gain since March 2008. European markets rose on encouraging economic data. The Stoxx Europe 600 rose 1.7 percent, closing at a six month high. The euro-zone composite purchasing manager’s index confirmed private-sector activity expanded in January, with the index rising 50.4 from 48.3 in December. 

January’s surprisingly strong jobs report, showing gains across a range of industries, is an encouraging sign that the employment picture might be picking up, and that first quarter growth forecasts, may be too low. It also raises questions about the timing of the Federal Reserve’s pledge to keep interest rates low, and whether another round of quantitative easing is even necessary. Traders are also questioning whether the Fed will wait until 2014 to raise its target rate, as it has forecast. In fact St. Louis Fed President came out today and said the Fed may have to raise rates before 2014. He called recent economic data “surprising to the upside” and noted that the unemployment rate likely is to fall to 7.8 percent by year’s end, and may decline to 7 percent by the end of 2013. Despite today’s positive news, the market still faces headwinds particularly from the EU. Greek PM Papademos says debt talks are in the final phase, but has repeated this “final phase” for the past two weeks. There are whispers that EU officials are actually preparing for an orderly Greek default rather than receive another tranche, ($ 20 billion bailout). As German Finance Minister Wolfgang Schaeuble said yesterday “We can’t continue to pay into a bottomless pit”. Investors should stay tuned. My swing numbers for next week come in as follows for the mini S&P 500. Support comes in first at 1325.00 and then below at 1309.50. A close below here look for 1279.75 as the next level down. Resistance comes in at 1355.50 and then up at 1371.75. Please call me at anytime with any questions or comments.

Daily Swing #s ESH2 (2/6)

R2-1355.00

R1-1346.00

Pivot-1333.00

S1-1324.00

S2-1311.00

Weekly Swing #s ESH2  (2/6-2/10)

R2-1371.75

R1-1355.50

Pivot-1325.75

S1-1309.50

S2-1279.75

Daily Swing #s YMH2  (2/6)

R2-12945

R1-12869

Pivot-12757

S1-12681

S2-12569

Weekly Swing #s YMH2 (2/6-2/10)

R2-13057

R1-12924

Pivot-12700

S1-12567

S2-12343

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Wednesday, February 01, 2012 at 3:12 PM

E Mini S&P settles 1319.75  up 11.50

Stock futures continued their march higher buoyed by strong manufacturing data across the globe. Both S&P and Dow futures just missed hitting January’s highs for 2012, before some profit taking took place in the last hour of trading. All ten S&P 500 sectors traded in positive territory, with gains led by financial and industrial stocks. The gains today were driven by signs U.S. employment gains and global manufacturing are sustaining their recent strength. Private employment forecaster ADP released their forecast for 170K new private hires in January, which met expectations, though December’s numbers were revised lower. The reading is seen as a preview to Friday’s release by the Labor Department. In a separate report, a reading on U.S. manufacturing came in at 54.1 for January, a bit below expectations but better than December’s revised reading of 53.1. Construction Spending,  jumped 1.5 percent in December, beating projections for a 0.5 percent rise.  In Europe, the Stoxx Europe 600 finished with a climb of 2%, and Germany’s DAX index gained 2.4% after purchasing managers indexes rose in the euro zone, Germany, and the U.K. Both of those stock indexes closed at their highest level since last August. Meanwhile, China’s factory sector expanded in January, supporting hopes the world’s second biggest economy will avoid another downturn. All eyes will turn to Friday’s all important jobs report after tomorrow’s jobless claims number. Pre report guesstimates are coming in with a non- farm payroll gain of 150K, with the unemployment rate holding steady at 8.5 percent. Please call me with any questions or comments.

Economic Releases 2/2
Jobless Claims-7:30
Export Sales-7:30

Daily Swing #s ESH2
R2-1340.00
R1-1329.75
Pivot-1316.75
S1-1306.50
S2-1293.50

Daily Swing #s YMH2
R2-12831
R1-12742
Pivot-12646
S1-12557
S2-12461

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

Tuesday, January 31, 2012 at 3:21 PM

E Mini S&P settles 1308.00 down 1.00

Stock futures suffered a slight decline on Tuesday after weaker than expected economic data led traders to book profits after early morning optimism from the EU. The mini Dow futures contract lost just 25 points for the day, as heavy selling after a report on U.S. consumer confidence in January halted a rally of just over 80 points in morning trading. The mini S&P 500 finished lower by a point, as it couldn’t hold onto morning gains that saw end of the month profit taking prompted by weak economic data.  Stock futures got a boost from Europe, after leaders of 25 of the 27 EU governments agreed on a pact to move closer to fiscal union and signed off on a permanent bailout fund for the 17 nation euro zone. Talks between Greece and its private creditors were said to have made continuing progress. However the market went negative and pretty much stayed that way throughout the day as economic data missed projections. The January reading of Consumer Confidence was well short of expectations, it fell 3.7 points from the month prior to 61.1, but was forecast to increase to 68.0. U.S. home prices also fell again in November, according to the Standard & Poor’s Case-Schiller home price indexes. The Case Schiller index of 10 major metro areas and the 20 city index both fell 1.3% from October. Despite today’s small losses the Dow climbed 3.4 percent this month, while the S&P 500 is up 4.4 percent. These gains marked the best January performance since 1997. Plenty of economic data out tomorrow headlined by the ISM manufacturing index and private forecasts on jobs from ADP and Challenger. Please call me with any questions or comments.

Daily Swing #s ESH2

R2-1324.50

R1-1316.25

Pivot-1309.25

S1-1301.00

S2-1294.00

Daily Swing #s YMH2

R2-12762

R1-12669

Pivot-12590

S1-12497

S2-12418

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

E Mini S&P settles 1312.50 up 1.75

For the week ended (1/23-1/27)

Stock futures finished the week mixed with a slightly better finish for the mini S&P 500 but lower finish in the mini Dow. Investors waded through mixed earnings and economic releases along with major commentary from the Federal Reserve that saw rising volume in all three bench mark indexes. All three major averages are still on pace for their best monthly gains since October 2011. The mini Dow futures contract lost just 40 points in trading this week to close at 12,614. The mini S&P posted just a slight gain for the week to finish at 1312.50, after trading to its highest level for 2012 following the Fed’s statement on Wednesday afternoon. The CBOE volatility index, widely considered the best gauge of fear in the market, finished below 19. In economic news this week U.S. GDP expanded at a 2.8 percent annual rate, according to the Commerce Department, posting its quickest pace in almost a year and a half for the 4^th quarter. However the figure did miss expectations for a three percent gain. Consumer sentiment rose to an eleven month high in January, climbing to 75, from December’s 69.9, according to the University of Michigan survey. In Europe, Greece Finance Minister Evangelos Venizelos said the debt risen nation is just “one step away” from a debt deal with its private creditors. Venizelos’ statements echo an earlier comment from European economic affairs Chief Ollie Rehn who said a Greek debt deal is imminent and should be completed by the end of January. Meanwhile Fitch said it is downgrading Italy, Spain, Belgium, Cyprus, and Slovenia, in the face of the ongoing financial headwinds from the euro zone’s debt crisis.

The market got a lift on Wednesday from the Federal Reserve’s forecast, which called for an extended period of low interest rates into the fourth quarter of 2014. This comes after last month’s statement from the Fed that called for rates to stay exceptionally low until mid 2013. Gains however were chipped away late this week due to economic and earnings releases that simply missed expectations. Economic reports this coming week could be mixed as well, with the January jobs report Friday is calling to show lower job growth in January, with an increase of non- farm payrolls of about 125K. December’s report showed 200K jobs were added, with the unemployment rate falling to 8.5 percent. Analysts note that there were many seasonal hires added in December, particularly 42K courier jobs, and many more part time hires that will be taken out of the equation on the February report. Fed Chairman Ben Bernanke’s testimony Thursday before the House Budget committee will also be closely watched. Bernanke will no doubt be pressed on Fed policy along with its new economic forecasts and if it has any plans to undertake another round of quantitative easing. Bernanke this past week said the Fed has no current plans for a new QE program, but has repeatedly said it carries the tools necessary to initiate another round of easing if economic conditions warrant such a move.

Earnings reports are expected this week from more than a fifth of the S&P 500, led by Exxon Mobil. Heavyweights such as Pfizer, Merck, Mastercard, and Amazon.com highlight a list of others reporting, including the anticipated filing by Facebook for an IPO. To date, about 37 percent of the S&P 500 companies have reported, with Reuters reporting that just 59 percent have beaten estimates. This comes well below the 70 percent plus in recent quarters. This is also the first quarter in the last nine of the recovery, where earnings growth is in single digits. My swing numbers for the upcoming week come in as follows for the mini S&P. Support comes in first at 1299.25 and below there at 1286.25. Resistance is up at 1327.25, and then up at 1342.75. Please call me at anytime with any questions or comments.

Daily Swing #s ESH2 (1/30)

R2-1325.25

R1-1319.00

Pivot-1313.00

S1-1306.75

S2-1300.75

Weekly Swing #s ESH2 (1/30-2/3)

R2-1342.75

R1-1327.25

Pivot-1314.50

S1-1299.25

S2-1286.25

Daily Swing #s YMH2  (1/30)

R2-12745

R1-12626

Pivot-12601

S1-12482

S2-12457

Weekly Swing #s YMH2 (1/30-2/3)

R2-12904

R1-12758

Pivot-12640

S1-12494

S2-12376

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

Thursday, January 26, 2012 at 3:10 PM

E Mini S&P settles 1315.25  down 5.00

S&P and Dow futures reversed gains in the last two hours of trading Thursday, as economic data along with continued worries from the EU kept investors from extending yesterday’s strong rally into today’s close. In economic news, sales of new U.S. homes unexpectedly declined in December for the first time in four months, capping the slowest year on record for builders. Claims for U.S. jobless benefits rose last week, displaying the usual volatility around holidays that has masked an improvement in the labor market. Orders for U.S. durable goods advanced more than forecast in December. All three benchmark indexes rose yesterday as the Federal Reserve signaled low rates through at least late 2014 and didn’t rule out bond purchases to bolster the economy. Investors have also focused on earnings results. Of the 146 companies that reported results since  January 9^th, 100 posted per-share earnings that beat projections, according to Bloomberg.

Across the pond, European stocks advanced, with the Stoxx Europe 600 adding 1.1 percent today, and impressively climbing 20 percent from September lows. Talks on the Greece debt swap continued today with still no deal completed between international policy makers and private creditors, although rumors insist that a deal is close. Stay tuned. We have some important data due out tomorrow headlined by GDP and consumer sentiment. Please call or email me with any questions or comments.

Daily Swing #s ESH2

R2-1338.50

R1-1326.25

Pivot-1318.00

S1-1306.25

S2-1297.50

Daily Swing #s YMH2

R2-12850

R1-12767

Pivot-12703

S1-12620

S2-12556

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

E Mini S&P settles 1320.25 up 8.75

S&P and Dow futures ended just below session highs on Wednesday after the Federal Reserve announced that it will not raise interest rates until 2014 in addition to keeping its promise of being highly accommodative to support the economic recovery. The mini Dow futures contract gained 66 points to close at 12688, while the mini S&P closed just below a weekly resistance target, to post the highest settlement so far in 2012. The CBOE volatility index, considered the best gauge of fear in the market, closed near 18.

Federal Reserve Chairman Ben Bernanke said on Wednesday that the central bank was ready to offer the economy additional stimulus after it announced interest rates would likely remain near zero until at least late 2014. The Fed also took the historic step of adopting an explicit inflation target, though Bernanke took pains to stress that officials would be flexible about reining in price growth when unemployment was too high. The late 2014 timeframe for the first rate hike was later than most expected. In fact it is 18 months later than the Fed had suggested last year, prompting a rally in Bonds and Precious metals. Fed officials agreed that a goal of 2 percent inflation would be in keeping with their congressional mandate of price stability. Core inflation is running about 1.7 percent. The Fed declined to announce a target for unemployment, saying the job market was often influenced by forces beyond their control. In its announcement, the Fed repeated its view that the economy faced “significant downside risks”-an expression that has become code for the threat the European debt crisis poses to the U.S. Aside from the 2014 pledge, the Fed’s statement mirrored its last policy statement in December. Please watch for continued earnings results and important economic releases tomorrow and Friday, along with news on the Greek debt deal, that is supposed to be agreed upon by week’s end. Feel free to call or email me with questions or comments.

Daily Swing #s ESH2  (1/26)

R2-1337.75

R1-1329.00

Pivot-1316.00

S1-1307.75

S2-1294.25

Daily Swing #s YMH2  (1/26)

R2-12848

R1-12768

Pivot-12645

S1-12565

S2-12442

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com
Monday, January 23, 2012 at 3:16 PM

E Mini S&P settles 1311.00 up .25

Stock futures finished mixed to barely extend a five day rally in the mini S&P, but edged slightly lower in the mini Dow halting a four day consecutive gain there. Futures extended to their highest levels in 2012 in morning trading, but the rally couldn’t hold. Traders booked profits by midday ahead of key reports on earnings, the economy, the Fed, and the EU Summit later this week. All three benchmark indexes have posted weekly gains for the past three weeks. European markets traded higher, with the Stoxx Europe 600 up 0.5%, as Greece continued its debt swap talks. Investors showed healthy demand at a German auction of short term debt but continued to watch Greece as it tries to negotiate a  debt-restructuring agreement with its private creditors. Greece’s debt issues will be the top story during a meeting of all 27 European Union Finance Ministers Tuesday. There were no economic data releases today in the U.S. That all changes by Wednesday as pending home sales data is released in front of the Federal Reserve’s policy meeting. Jobless Claims, durable goods orders and new home sales are out Thursday, and the first reading of 4th quarter GDP growth is out Friday. In Asia, markets in Shanghai, Hong Kong, and South Korea were closed in observance of the Lunar New Year holidays. I am looking for volatility to pick up as the week goes on due to amount of earnings and economic data, along with the Fed’s statement. Please call me with any questions or comments.

Daily Swing #s ESH2
R2-1324.75
R1-1318.00
Pivot-1311.50
S1-1304.75
S2-1298.25

Daily Swing #s YMH2
R2-12754
R1-12701
Pivot-12656
S1-12603
S2-12558

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

E Mini S&P settles 1310.75 up 21.75
For the week ended (1/17-1/20)

Stock futures ended the week with a tight choppy trading session Friday, but finished the week positive with all three benchmark indexes posting another week of gains. All three major indexes posted gains of over two percent despite ongoing worries over the euro zone debt crisis and some disappointing corporate earnings results. The CBOE volatility index, widely considered the best gauge of fear in the market, tumbled near 18.
The Federal Reserve will be the top story in the week ahead, but a heavy schedule on earnings releases  and economic data could be the real driver for S&P and Dow futures next week. There are a dozen Dow 30 companies and about a quarter of the S&P 500 companies reporting in the week ahead, in industries ranging from pharmaceuticals to airlines and energy. 4th quarter GDP is reported Friday and is expected to come in around three percent, which would be the fastest pace since the second quarter of 2010. Europe will also remain of interest, as investors wait for a deal between Greece’s government and private sector creditors. European finance ministers meet Monday and Tuesday.
The Fed’s two day meeting ends Wednesday with a statement, a new forecast and a press briefing by Fed Chairman Ben Bernanke. While market participants are somewhat unclear about the new routine, they mostly do not expect the Fed to announce a new easing program. The Fed altered its communications policy and will begin providing  a forecast of the key Fed funds rate by its members. Many investors believe the Fed will hold the door open for more easing, but not commit to it until the second quarter, if economic data here and in Europe warrant more intervention.
As of Friday morning, 14 percent of the S&P 500 companies had reported earnings and about 60 percent have reported earnings per share above expectations, according to Reuters. That is below the 70 percent plus rate of other quarters during the recovery, but it is early in the earnings season. Analysts had been expecting a growth rate for S&P earnings of about 8 percent at the start of the year. But as of Friday, the actual earnings reports, combined with lowered expectations for companies yet to report, are running at about a 5.8 percent growth rate.
Despite somewhat positive economic data, highlighted this week by the weekly jobless claims at its lowest level (350K) since 2008, volume remains light in the stock indices, as many investors remain on the sidelines until there is a clearer view going forward from the Fed and EU finance ministers. Look for volatility to ramp up late in the week and trading ranges enhanced,  especially after the Fed’s release on Wednesday and after key economic releases are announced. Trading ranges in the mini Dow and Mini S&P have been tight, similar to the levels we see during the holidays. I think we will see a shift next week and higher daily volume.  Here are some levels to keep an eye on next week in the mini S&P. Support is down at 1290.75 and with a close below here 1270.75 the next level down. Resistance is up at 1321.50 and then up at 1331.75. Please call me at anytime with questions or comments.

Daily Swing #s ESH2 (1/23)
R2-1316.00
R1-1313.25
Pivot-1309.00
S1-1306.25
S2-1302.00
Weekly Swing #s ESH2 (1/23-1/27)
R2-1331.75
R1-1321.00
Pivot-1301.25
S1-1290.75
S2-1270.75

Daily Swing #s YMH2 (1/23)
R2-12740
R1-12705
Pivot-12625
S1-12582
S2-12510

Weekly Swing #s YMH2 (1/23-1/27)
R2-12890
R1-12771
Pivot-12549
S1-12430
S2-12208

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Weekly S and P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

Thursday, January 19, 2012 at 3:07 PM

E Mini S&P settles 1310.50 up 8.25

Stock futures rallied for a third straight day on Thursday as positive news from the euro zone to strong data from earnings on financials pushed the mini S&P to its highest level of 2012. Bank of America climbed 4.6 percent today after earnings beat expectations to boost both the S&P and Dow Industrial. Morgan Stanley reported a quarterly loss that was narrower than expected, sending shares up 4.5 percent. With Wednesday’s forecast beating earnings from Goldman Sachs Group, results from the big three big financials lessened some concerns about the sector’s exposure to the EU debt crisis.

Economic data came in mixed this morning with weekly jobless claims dropping 52K to a seasonally adjusted 352K last week, the Labor department reported, falling to a four year low. Meanwhile housing starts declined 4.1 percent to a seasonally adjusted rate of 657K units in December, according to the Commerce Department, which came in well below expectations that further dampen hopes for a recovery in the housing sector. But the big news which buoyed markets overnight and halted any sell off today was that European shares finished the day higher due to strong demand on bond auctions. Spain drew strong demand at a debt auction, which sold more than 6.6 billion Euros of bonds with maturities up to ten years. This auction was the first test of market sentiment for euro zone bonds this year. With risk aversion over the EU dwindling this week, upbeat earnings results, and mixed to slightly positive economic data, the S&P and Dow keep churning higher on this holiday shortened week. However we are one bearish headline away from seeing all these gains wiped away. Tomorrow is light on economic releases but we do have some earnings results highlighted by GE. Investors will be watching discussions on the Greek debt swap overnight into tomorrow to see if the can gets kicked further down the road on preventing a possible Greek default. Please call me at anytime with questions or comments.

Daily Swing #s ESH2  (1/20)

R2-1319.25

R1-1314.75

Pivot-1307.00

S1-1302.50

S2-1294.75

Daily Swing #s YMH2 (1/20)

R2-12657

R1-12622

Pivot-12554

S1-12519

S2-12451

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.

Daily S&P Report Comments

by Sean Lusk, PFGBEST

1-877-294-7757

slusk@PFGBEST.com

Tuesday, January 17, 2012

E Mini S&P settles 1289.25 up.25

Stock futures finished the day slightly higher but far from the highs made in early morning trading that saw the S&P500 trade up to its highest level since last July. Economic data from both the U.S. and Germany bolstered early morning optimism that sent the e mini S&P over the 1300 level for the first time in 2012. Stock futures rose this morning as manufacturing in the New York region expanded in January at the fastest pace in nine months. Across the pond, German investor confidence rose the most on record in January, while Spanish borrowing costs fell at an auction as investors temporarily ignored S&P downgrades of European nations late last week. Economic data from China was not as good as China’s economy expanded at the slowest pace in 10 quarters, sustaining pressure on Premier Wen Jiabao to ease monetary policy.

A weak earnings report from Citi-Group may have prompted heavy selling in the financial sector as the banking giant’s earnings fell well short of expectations on both profit and revenue, amid a wobbly beginning to earnings season for banks. The report comes after JP Morgan’s earnings last week which missed revenue expectations.  At least 48 companies in the S&P 500 are scheduled to report quarterly results this week. S&P 500 earnings are projected to gain on average nine percent to $105

a share. With the heavy slate of economic data and earnings releases this week, it shouldn’t be a surprise that today’s early gains couldn’t hold as many specs booked profits in front of the upcoming data. Please call or email me with any questions or comments.

Daily Swing #s ESH2

R2-1312.50

R1-1300.75

Pivot-1291.00

S1-1279.25

S2-1269.50

Daily Swing #s YMH2

R2-12607

R1-12513

Pivot-12420

S1-12326

S2-12233

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.