PPDT - PP-XLF = 15.95 - 12/23 Thursday

[ask2lern]

Morning Gang!! here are the pivots……….…hope everyone has a great day ………GLTA


XLF

R3 16.31
R2 16.13
R1 16.06

PP 15.95

S1 15.88
S2 15.77
S3 15.59


SPY

R3 126.49
R2 126.08
R1 125.93

PP 125.67

S1 125.52
S2 125.26
S3 124.85





GOLD

R3 1404.63
R2 1395.53
R1 1390.77

PP 1386.43

S1 1381.67
S2 1377.33
S3 1368.23


SILVER

R3 29.82
R2 29.56
R1 29.41

PP 29.30

S1 29.15
S2 29.04
S3 28.78


IWM

R3 79.83
R2 79.37
R1 79.09

PP 78.91

S1 78.63
S2 78.45
S3 77.99



TNA

R3 77.00
R2 75.63
R1 74.96

PP 74.46

S1 73.69
S2 73.19
S3 71.92


TZA

R3 15.80
R2 15.53
R1 15.41

PP 15.26

S1 15.14
S2 14.99
S3 14.72


SDS

R3 24.16
R2 23.99
R1 23.89

PP 23.82

S1 23.72
S2 23.65
S3 23.48

………………………..GLTA

[ask2lern]

From www.optionmonster.com .............................GL

Bank sector pushes S&P 500 higher
December 23, 2010 Thu 12:08 AM CT


Despite some turmoil earlier in the session, the indexes managed to close in the green yesterday--but once again, by a mere fraction in most cases.

The S&P 500 got a big lift from the financial sector stocks, which outperformed other sectors nearly 3 to 1.

Levels once again have not changed, other than an adjustment in support for the Nasdaq 100.

Nasdaq 100 (NDX)
First support is at 2216.92, the 10-day moving average. First resistance is at 2239.23, the 2007 peak.

For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $54.49. First resistance is at $55.07.

S&P 500 (SPX)
First support is at 1235.05. First resistance is at 1268.66.

For the Standard & Poor's Depository Receipts (SPY) first support is at $124.01. First resistance is at $127.36.

Russell 2000 (RUT)
First support is at 770.51. First resistance is at 799.57.

For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $77.21. First resistance is at $79.84.

By: Bryan McCormick

[ask2lern]

From www.optionmonster.com .................................GLTA

Durable goods, jobs lead calendar
December 23, 2010 Thu 12:00 AM CT


As the trading week comes to a close before the holiday, traders will be confronted with a very full economic calendar with some key releases. Most of those reports will come out before the open.

Durable Goods Orders is scheduled for 8:30 a.m. ET. This is an important release because much of the recent rally has been based on better manufacturing data. A sharper-than-expected drop in goods would therefore be bearish.

Consensus calls for orders to come in at -1 percent. The range for the report is quite wide, from a bearish -3.6 percent to a bullish 2.5 percent.

Personal Income and Outlays will also come out at 8:30 a.m. ET. This report may draw the least attention unless there is a major surprise.

Income is expected to grow month over month by 0.2 percent, while spending is expected to show a larger jump of 0.5 percent. Income has the narrowest forecast range, between 0.1 percent and 0.3 percent. No one has forecast a drop, which would make it the outlier surprise if that does happen.

Spending has a wider range, from 0.4 percent to 0.8 percent. A break below 0.4 percent would be a negative surprise, while one at or above 0.8 percent would be bullish. The least favorable outcome would be a drop in both income and spending.

Jobless Claims will be the last report we get before the market opens. The forecast calls for initial claims to come in unchanged at 420,000. The range this time is skewed toward the low end, from a bullish 400,000 to less optimistic 425,000. A number coming in well above 425,000 would be bearish.

The final revision of the Reuters/University of Michigan Consumer Sentiment Index will be released at 9:55 a.m. ET. The headline number is expected to come in at 75, just above the mid-month reading of 74.2.

The forecast range is narrow, which is typical of the final number, from a moderately bearish 73 to a slightly more bullish 76. Numbers that break either end of the range would therefore be more likely to have a stronger market impact.

Our last report of the morning will be New Homes Sales at 10 a.m. ET. The consensus expectation is for sales of 300,000 units, with a small range of forecasts from a moderately bearish 290,000 to a more bullish 320,000. Numbers that break either end of the range would be more bearish or bullish, respectively.

By: Bryan McCormick

[ask2lern]

From www.optionmonster.com ..........................GLTA

Is sentiment near a danger zone?
December 22, 2010 Wed 11:57 AM CT


A key sentiment survey has registered a very bullish reading that is high enough to warrant caution as we head into 2011.

The Investors Intelligence U.S. Advisors Sentiment was 58.8 percent bullish as of this morning, its highest level since the 62 percent peak that coincided with the market top in 2007. It may well go even higher, which would signal an extreme area rarely seen.

Monitoring the sentiment index at this stage may be prudent because it can serve as a signal of an impending turn at extremes. Back at the lows of 2008, bullish sentiment reached a trough well before the market bottomed in March 2009.

We know that sentiment therefore is not a precise timing mechanism in predicting turns, but it can tell us when we may want to begin thinking differently from the crowd.

By: Bryan McCormick

[ask2lern]

Couple of posts from stocktwits....................GLTA

TradingTheOdds
Since 1929 when $SPX closed at the high of the year 1 or 2 sessions before Christmas, $SPX closed higher 5 sessions later on all 7 occur. $$


sentimentrader
FWIW stat du jour. Last 3 times $SPY formed back-to-back NR7 days at a 52wk hi: 12/24/04, 2/2/07, 4/12/10. All >-4% drop over next month.$$

[ask2lern]

10 Things You Need To Know Before The Opening Bell

•Markets are pretty quiet. Shanghai fell by a notable .8% last night. US futures aren't going anywhere yet.

•There's a "veritable blizzard" of data coming out today in the US. At 8:30 AM we get personal income and spending, durable goods, core prices, and of course initial jobless claims. Follow the action at The Money Game >

•At 10:00 AM, new home sales are released. Analysts are expecting annualized sales of just 300K.

•There are reports out of Germany that the country could actually back a new European stability fund, something the country has been very reluctant to do, but which will be a huge issue in 2011. The country denies that they actually plan to do this, instead insisting that there's just a "working paper" floating around where that's been discussed. Here's a guide to why Europe is doomed to crisis after crisis >

•Retailer Bed Bath & Beyond reported very strong earnings last night, announcing strong holiday sales, and lifting its guidance. The stock is heading higher. Here's a guide to why retail sales have been so strong >

•As oil crosses $90/barrel, Maersk Oil is spending $2.4 billion to acquire Brazilian oil assets from Korea's SK Energy. For a guide to oil the coming age of oil and water shortages, see here >

•North Korea continues to make provocative noises. This morning a defense minister talked about a nuclear "sacred war'. What does that mean? Nobody really knows. For more on how North Korea could level Seoul in under two hours, see here >

•The bond boom continues to burst. Last week saw a massive $8.62 billion in bond outflows, according to the investment company institute.

•The DC buzz is that Obama is that Obama is "back" thanks to a very productive lame-duck session of Congress, which saw him get victories on DADT, START, the 9/11 billion, and taxes (in which his cave to the GOP proved popular). But bear in mind this happened during a session during which Congress bears no similarity to what's about to come, and a key measure, the budget, only got passed through March. Expect the new year to be brutal. Check out 20 insane examples of wasteful government spending >

•Bonus: It looks like Tiger Woods will be alone this holiday season. His kids and former wife Elin Nordegren were seen in Sweden without him, says Us Weekly.

finance.yahoo.com/news/10-Things-You-Need-To-Know-siliconalley-3325993830.html?x=0&.v=1

..............................GLTA

[abdogman]

Good Morning Gang......Ask thx for nmbrs and info......Exalt!!

[abdogman]

0830EDT

November Durable Orders -1.3% vs -1.1% Briefing.com consensus; prior revised to -3.1% from -3.4%

November Durable Orders- ex trans +2.4% vs +0.8% Briefing.com consensus; prior revised to -1.9% from -2.7%

Initial Claims 420K vs 424K Briefing.com consensus; prior revised to 423K from 420K

Continuing Claims falls to 4.064 mln from prior 4.167 mln

November Personal Spending +0.4% vs +0.5% Briefing.com consensus; prior revised to +0.7% from +0.4%

November PCE Prices- Core M/M +0.1% vs 0.1% Briefing.com consensus; prior 0.0%; PCE Deflator Y/Y +1.0%
November Personal Income +0.3% vs +0.2% Briefing.com consensus; prior revised to +0.4% from +0.5%

[ask2lern]

Funny twit.......................

optionmonster Jon Najarian
On a flight a man threatened 2 shoot attendants after they stopped serving him drinks, the airline said he could lose his pilot's license.


From stocktwits.................
ukarlewitz
RT @derekhernquist all time high of 98.6% polled say "great trend but bad time to buy it" $SPY



..................GLTA

[kryptos2009]

Here is the PP Daily Thread (PPDT) data.


XLF PP=15.95
MP=16.01 R1=16.06 MP=16.10 R2=16.13 MP=16.22 R3=16.31 MP=16.40 R4=16.49
MP=15.92 S1=15.88 MP=15.83 S2=15.77 MP=15.68 S3=15.59 MP=15.50 S4=15.41
O=15.87 H=16.02 L=15.84 C=15.99

FAS PP=27.68
MP=27.95 R1=28.21 MP=28.40 R2=28.59 MP=29.04 R3=29.50 MP=29.95 R4=30.41
MP=27.49 S1=27.30 MP=27.04 S2=26.77 MP=26.31 S3=25.86 MP=25.40 S4=24.95
O=27.26 H=28.05 L=27.14 C=27.84

FAZ PP=9.53
MP=9.60 R1=9.67 MP=9.77 R2=9.86 MP=10.03 R3=10.19 MP=10.36 R4=10.52
MP=9.44 S1=9.34 MP=9.27 S2=9.20 MP=9.04 S3=8.87 MP=8.71 S4=8.54
O=9.69 H=9.73 L=9.4 C=9.47

SPY PP=125.67
MP=125.80 R1=125.93 MP=126.01 R2=126.08 MP=126.29 R3=126.49 MP=126.70 R4=126.90
MP=125.60 S1=125.52 MP=125.39 S2=125.26 MP=125.06 S3=124.85 MP=124.65 S4=124.44
O=125.48 H=125.82 L=125.41 C=125.78

SPG PP=98.96
MP=99.32 R1=99.68 MP=100.21 R2=100.73 MP=101.61 R3=102.50 MP=103.38 R4=104.27
MP=98.44 S1=97.91 MP=97.55 S2=97.19 MP=96.30 S3=95.42 MP=94.53 S4=93.65
O=98.51 H=100 L=98.23 C=98.64

GS PP=169.06
MP=169.64 R1=170.22 MP=170.53 R2=170.84 MP=171.73 R3=172.62 MP=173.51 R4=174.40
MP=168.75 S1=168.44 MP=167.86 S2=167.28 MP=166.39 S3=165.50 MP=164.61 S4=163.72
O=168.67 H=169.68 L=167.9 C=169.6

JPM PP=41.95
MP=42.35 R1=42.75 MP=43.04 R2=43.33 MP=44.02 R3=44.71 MP=45.40 R4=46.09
MP=41.66 S1=41.37 MP=40.97 S2=40.57 MP=39.88 S3=39.19 MP=38.50 S4=37.81
O=41.17 H=42.54 L=41.16 C=42.16

MS PP=27.22
MP=27.42 R1=27.61 MP=27.72 R2=27.83 MP=28.13 R3=28.44 MP=28.74 R4=29.05
MP=27.11 S1=27.00 MP=26.81 S2=26.61 MP=26.30 S3=26.00 MP=25.69 S4=25.39
O=26.95 H=27.43 L=26.82 C=27.4

C PP=4.72
MP=4.75 R1=4.77 MP=4.79 R2=4.80 MP=4.84 R3=4.88 MP=4.92 R4=4.96
MP=4.71 S1=4.69 MP=4.67 S2=4.64 MP=4.60 S3=4.56 MP=4.52 S4=4.48
O=4.75 H=4.76 L=4.68 C=4.73

VIX PP=15.82
MP=16.01 R1=16.19 MP=16.56 R2=16.93 MP=17.49 R3=18.04 MP=18.60 R4=19.15
MP=15.45 S1=15.08 MP=14.90 S2=14.71 MP=14.16 S3=13.60 MP=13.05 S4=12.49
O=16.52 H=16.56 L=15.45 C=15.45

UUP PP=23.27
MP=23.29 R1=23.30 MP=23.31 R2=23.32 MP=23.35 R3=23.37 MP=23.40 R4=23.42
MP=23.26 S1=23.25 MP=23.24 S2=23.22 MP=23.20 S3=23.17 MP=23.15 S4=23.12
O=23.26 H=23.3 L=23.25 C=23.27

FROM: www.econoday.com

Economic Events & Analysis - 12/23/2010 Thursday



8:30 AM ET Durable Goods Orders
8:30 AM ET Personal Income and Outlays
8:30 AM ET Jobless Claims
9:55 AM ET Consumer Sentiment
10:00 AM ET New Home Sales
10:30 AM ET EIA Natural Gas Report
11:00 AM ET 3-Month Bill Announcement
11:00 AM ET 6-Month Bill Announcement
11:00 AM ET 2-Yr Note Announcement
11:00 AM ET 5-Yr Note Announcement
11:00 AM ET 7-Yr Note Announcement
4:30 PM ET Fed Balance Sheet
4:30 PM ET Money Supply



Additional World wide Economic Calendar information can be found at the following website.
worldeconomiccalendar.com/

NOTE:
The previous days OHLC data for todays PPDT was gathered from finance.yahoo.com for each individual stock by a series of webquerys built into a spreadsheet.
The formulas used by the www.mypivots.com website to create the Pivot Points were found in the sites help files.
The formulas were built into the spreadsheet which acts on the previous days OHLC data gathered from Yahoo.
The Pivot Points were created using the formulas from www.mypivots.com but NOT by using the site.
Please let me know if you find any errors in the data.
Use of this data is at your own risk.

[deadmoney95]

Good morning all, and many thanks as always:

Fed Fund Rate went down to 0.19.

Carl F: March S&P E-mini Futures: Today's range estimate is 1249-1253. Short term support is now at 1235. I think a top building process is underway and will be followed by a drop of 50-75 points. Once it is complete the market will resume its advance to 1300.

Caldaro:

(From yesterday's close): For the day the SPX/DOW were +0.30%, and the NDX/NAZ were +0.10%. Bonds lost 7 ticks, Crude added 75 cents, Gold slipped $5.00, and the USD was higher. Support for the SPX remains at 1240 and then 1222, with resistance at 1261 and then 1291. Short term momentum was quite overbought at the highs, then pulled back some. Tomorrow, weekly Jobless claims at 8:30, along with Personal income/spending, PCE prices, and Durable goods orders. Then at 10:00 Consumer sentiment and New homes sales.

Another quiet trading day with quite a narrow range as the market worked its way higher. Thus far this week the daily trading range has become narrower and narrower: 8 SPX points on monday, 7 points on tuesday, and only 4 points today. The short term OEW charts continue to remain positive with short term support now at SPX 1250. The SPX is currently within the OEW 1261 pivot range. A close above the actual pivot would be another positive. Good support remains at the 1240 pivot. This market is a bit overbought short term, and a larger pullback than just a few points can occur at any time. Best to your trading, shopping, and holidays!

[ccash04]

Won't be surprised if it ends +/- 2 points of 1258 today.. more than likely + the way things have been going lol.

Only thing that has popped and dropped so far is the VIX.

[abdogman]

0955EDT December University of Michigan Sentiment- final 74.5, prelim 74.2; November 71.6

[abdogman]

1000EDT November New Home Sales 290K vs 300K Briefing.com consensus; M/M change +5.5%

[abdogman]

Time to Go lay in Supplies .........We have Hvy snow forecast from Eam Sat thru PM Sun here in the Mountains of Western NC.....White Christmas is Great .....but there is no FLAT here just UP or Down ...


Go Gettem Gang.......later!

[jack]

Have a "Merry" Rog and the rest of the Gang!

I believe they are projecting a significant weather system approaching the Wash DC metro area on Sunday/Monday so I better go out NOW myself BEFORE all the bread and milk is gone from this increcredibly risk averse society we have around here...and also to test run the bigass snowblower!

Laterz

;D

[Rich]

Anybody buying the dip?

I think I'm going to go shopping.

I'm one of the 8 gudzillion men that hasn't finished yet.

funny, I used to go to the higher end stores in my work clothes, 3 days beard growth....

The sales ladies would look at me in shock sometimes

of course I did it on purpose.

there's something wrong with me.

[Rich]

the spy looks like a helluva bull flag over the last several days....

[exabi]

Damn,

You're ahead of the game not having finished. I haven't even started yet

[Rich]

I did the fun part for the kids, now I have to do the adults

un-fun

[Rich]

this makes me not want to short



Uploaded with ImageShack.us

[Rich]

I think I'll stop in BBBY for Leann. Then I'll go across the street to BBY.

I may stop in ODP and then swing to KSS.

Maybe a short jaunt to BKS for a spirit refresher and then on to DKS.

yes, big daddy needs xmas presents, too.

[cosmic]

That TRIN is too hot to handle. It's amazing the Dow is still green.

[ccash04]

Dec 23, 2010 13:42:05 GMT -5 cosmic said:

That TRIN is too hot to handle. It's amazing the Dow is still green.

These past few weeks ive been in awe at how the SPY/DOW has risen even as breadth has deteriorated... Feels like something big has to happen but don't think it will be before new years.

[cosmic]

It feels like distribution under cover of consolidation. All things considered.

[ccash04]

VIX at the HOD, its up almost 10%.. strange things are afoot.. me thinks, VIX doesn't normally rise this much on a 0.3% down day.

I own almost all volatility and I am short no volatility right now.. Granted its smaller positions but I think it makes sense to be long vol. seriously not worth it to be short it.

[jack]

Hmmmmmthhanks to Ask2lern 'm on my way to oblivion :

He gave me a recipe for eggnog: eggnog and Crown Royal

Only problem is that I fergot which part wass the galoon and which part wuz the pint so I'm trying thegallon Crown w/ the pint eggnog first! Tht shit is expensiv Ask!

Looks like I'm "home alone" for Christmas too - wifey drove down to SC to help the kid (former cop) pack up she got a job back here w/ the Pinkertons starts @ $44K/yr Jan 3rd.

Don wory I wont take the cycle out unles I haftoo - bin dere dun that....anf it herts too mush.

LOL

Laterz again - Have a Really gret Holiday proly gona ned nother litter of Crown....

[drtracyb]

Dec 23, 2010 16:05:46 GMT -5 jack said:

Hmmmmmthhanks to Ask2lern 'm on my way to oblivion :

He gave me a recipe for eggnog: eggnog and Crown Royal

Only problem is that I fergot which part wass the galoon and which part wuz the pint so I'm trying thegallon Crown w/ the pint eggnog first! Tht shit is expensiv Ask!

Looks like I'm "home alone" for Christmas too - wifey drove down to SC to help the kid (former cop) pack up she got a job back here w/ the Pinkertons starts @ $44K/yr Jan 3rd.

Don wory I wont take the cycle out unles I haftoo - bin dere dun that....anf it herts too mush.

LOL

Laterz again - Have a Really gret Holiday proly gona ned nother litter of Crown....

So funny, I always read the post first, then look to see who wrote it. I can always tell when Jack is writing!

Have a great Christmas, everyone. And a Happy Holiday to the rest of us heathens and devil-worshipers,too.