Daily S&P Report

E Mini S&P settles 1091.25 down 12.25

The S&P and Dow futures contracts closed

lower Tuesday and ended a four session winning streak.

Concerns about the European banking sector and

light post-holiday trading were the main factors behind

today’s losses. The Dow, S&P, and NASDAQ  all lost

one percent today.  Stock Indices as a group were all

lower after the Wall Street Journal  reported that

European Bank stress tests were not as comprehensive

as they should have been, and some banks hold riskier

portfolios than thought. Banks may also be affected by

rumors reported in the German weekly Die Ziet that the

Basel committee will require banks to hold 9 percent Tier

1 capital, up from four percent. Higher capital levels would put

pressure on big banks. The gloomy sentiment comes after

stocks capped a strong start to September following better

than expected jobs and manufacturing reports. 

Obviously investors will again be watching for news from the

Euro zone as it has a direct relationship to our markets.  

The key economic news this week will be the “beige book”

Report from the Federal Reserve on Wednesday and weekly

unemployment numbers due out on Thursday.

Please call me for up to the minute news on these releases

sent straight to your email. Please call me at 877 294 7757

or slusk@pfgbest.com 

Daily Swing #s ESU0

Resistance#2-1113.50

Resistance#1-1102.25

Pivot                  1096.00

Support#1       1084.75

Support#2       1078.50

Daily Swing #s YMU0

Resistance#2-10526

Resistance#1-10431

Pivot                  10376

Support#1       10281

Support#2       10226   

Sean Lusk

Senior Broker

877 294 7757

312 775 3541

312 379 5808 fax

slusk@pfgbest.com

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