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Referenced Stocks

• C 73% Rate It

News Highlights

Three weeks after European leaders unveiled emergency euro- area funding exceeding the symbolic $1 trillion mark, concerns about Spain's position have ratcheted the nation's borrowing costs to the highest levels this year. Crisis-fighting resources will dominate talks at the International Monetary Fund's spring meeting in Washington from April 20-22.

Citigroup

Citigroup Inc. ( C ), the third-biggest U.S. bank, said profit fell 2.3 percent, missing analysts' estimates on a bigger-than-projected accounting cost. Fixed- income trading revenue almost tripled from the fourth quarter.

First-quarter net income dropped to $2.93 billion, or 95 cents a share, from $3 billion, or $1 a share, in the same period last year, the New York-based bank said today in a statement. The average estimate of 17 analysts surveyed by Bloomberg News was $1.02 a share in adjusted earnings.

Retail Sales

Higher Gas prices and Sales at Apple Inc NASDAQ:AAPL lifted the retail sales data and some caution should excersized if using the data as an economic gauge.

Stock-index futures extended earlier gains after the reports as consumer spending, which accounts for about 70 percent of the economy, was holding up.

Retail sales in the U.S. rose more than forecast in March, showing consumers are weathering the jump in gasoline prices heading into the second quarter.Retail sales were projected to rise after a 1.1 percent gain previously reported for ...

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Crude Oil (May 12) intraday: bounce.

Pivot: 101.70
Our Preference : LONG positions above 101.7 with 103.3 & 104.2 as next targets.
Alternative scenario : The downside breakout of 101.7 will open the way to 101 & 100.7.
Comment : the RSI is posting a bullish divergence (not confirmed yet).

Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

GOLD (Spot) intraday: up turn. Pivot: 1640.00 Our Preference : LONG positions above 1640 with targets @ 1655 & 1663. Alternative scenario : The downside penetration of 1640 will call for a slide towards 1631 & 1620. Comment : the RSI calls for a bounce. Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

EUR/USD intraday: under pressure. Pivot: 1.306 Our preference : Short positions below 1.306 with targets @ 1.2995 & 1.297 in extension. Alternative scenario : Above 1.306 look for further upside with 1.309 & 1.313 as targets. Comment : the pair stands below its new resistance and remains under pressure. Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

GBP/USD intraday: the downside prevails. Pivot: 1.588 Our preference : Short positions below 1.588 with targets @ 1.5805 & 1.578 in extension. Alternative scenario : Above 1.588 look for further upside with 1.591 & 1.595 as targets. Comment : the pair is posting a rebound but remains under pressure. Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/CAD intraday: bullish bias above 0.995. Pivot: 0.995 Our preference : Long positions above 0.995 with targets @ 1.001 & 1.005 in extension. Alternative scenario : Below 0.995 look for further downside with 0.992 & 0.9885 as targets. Comment : the RSI is mixed with a bullish bias. Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/JPY intraday: rebound. Pivot: 80.55 Our preference : Long positions above 80.55 with targets @ 81 & 81.2 in extension. Alternative scenario : Below 80.55 look for further downside with 80.4 & 80.2 as targets. Comment : the pair is rebounding and is challenging its resistance. Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

AUD/USD intraday: the downside prevails. Pivot: 1.0385 Our preference : Short positions below 1.0385 with targets @ 1.0285 & 1.0225 in extension. Alternative scenario : Above 1.0385 look for further upside with 1.0415 & 1.045 as targets. Comment : the RSI is mixed with a bearish bias. Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

USD/CHF intraday: further advance.

Pivot: 0.9185
Our preference : Long positions above 0.9185 with targets @ 0.925 & 0.9275 in extension.
Alternative scenario : Below 0.9185 look for further downside with 0.916 & 0.9135 as targets.
Comment : the pair remains on the upside and is approaching its previous high.

Opinion published is an intraday view.  Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services. Read the Terms of Service

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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