PPDT - PP-XLF = 16.27 - 1/05 Wednesday

[ask2lern]

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



XLF

R3 16.75
R2 16.51
R1 16.39

PP 16.27

S1 16.15
S2 16.03
S3 15.79

SPY

R3 129.21
R2 128.03
R1 127.50

PP 126.85

S1 126.32
S2 125.67
S3 124.49

GOLD

R3 1448.63
R2 1417.83
R1 1400.07

PP 1387.03

S1 1369.27
S2 1356.23
S3 1325.43


SILVER

R3 32.68
R2 31.31
R1 30.56

PP 29.94

S1 29.19
S2 28.57
S3 27.20


IWM

R3 83.29
R2 80.96
R1 79.69

PP 78.63

S1 77.36
S2 76.30
S3 73.97



TNA

R3 86.81
R2 80.18
R1 76.60

PP 73.55

S1 69.97
S2 66.92
S3 60.29


TZA

R3 17.91
R2 16.62
R1 16.03

PP 15.33

S1 14.74
S2 14.04
S3 12.75


SDS

R3 24.26
R2 23.82
R1 23.58

PP 23.38

S1 23.14
S2 22.94
S3 22.50

………………………..GLTA

[ask2lern]

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

Indexes may be near turning point
January 5, 2011 Wed 12:02 AM CT


Yesterday looked as if it might be a rough time for the bulls, with a fairly big dip by midday that actually broke support for the S&P 500 and the Nasdaq 100 at one point. However, as has so often been the case in recent weeks, the indexes recouped most of their losses to end the day nearly unchanged.

The exception to that once again was the Russell 2000, which seriously underperformed the other indexes to end lower on the day, though off its lows.

With each index now nearly in the middle of the range between support and resistance, we could see a larger move that takes out either support or resistance next. Traders appear to be positioning themselves for such a turning point.

The potential catalysts for a make-or-break move are likely to come in the form of economic data or sell-side analyst calls. In the absence of earnings news until next week, those two fundamental factors are likely to dominate trading. Traders appear to be trying to keep the indexes as much in range as possible before earnings season begins.

Nasdaq 100 (NDX)
First support is at 2239.23, the 2007 peak. First resistance is at 2268.30.

For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $54.21. First resistance is at $55.69.

S&P 500 (SPX)
First support is at 1268.66. First resistance is at 1276.17.

For the Standard & Poor's Depository Receipts (SPY) first support is at $126.71. First resistance is at $127.60.

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: Mike Yamamoto

[ask2lern]

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

Jobs, oil, manufacturing data on tap
January 5, 2011 Wed 12:00 AM CT


Two important labor releases are scheduled for today, the Challenger Job Cuts Report and the ADP Employment data. Traders will be watching these numbers to glean insight into the government's Employment Situation report on Friday.

At 7 a.m. ET, MBA Purchase Applications will be released. There are no estimates available in advance for this report. I look only at the purchases component, which indicates new activity as opposed to refinancing.

Last week purchases came in at 195.3. A number higher or lower that that reading by 5 percent or more would be respectively bullish or bearish.

The Challenger Job Cuts Report comes out at 7:30 a.m. ET. Last month cuts that were announced but not yet made came in at 48,700. A number well above 50,000 would be bearish, while a number roughly in line with the previous month or lower would be neutral to bullish.

At 8:15 a.m. ET, the ADP Employment Report will be released. Traders use this as a proxy for the Employment Situation report. Most economists believe that payrolls will grow by 100,000. The range of estimates for this report is quite wide, from a bearish 50,000 to a bullish 150,000.

The ISM Non-Manufacturing Index comes out at 10 a.m. ET. Expectations for the report are moderate, with most expecting an increase to 57.5 from the previous reading of 57. The range of outcomes is very narrow, from a moderately bearish 55 to a more bullish 59.

The EIA Petroleum Status Report will be released at 10:30 a.m. ET. Before the EIA data comes out, the American Petroleum Institute releases a competing report based on its own supply data.

The forecast for both reports was for a draw of -1.8 million barrels. But the API release, which came out last night after the market closed, showed a much larger draw of -7.511 million barrels instead.

If the EIA data confirms this draw or shows an even larger drop, it could be bullish for crude pricing. If the draw is smaller than the API's -7.511 million barrels or is a positive number indicating a build, it could be bearish for oil.

The EIA is a government body, and the API is a private industry group. The two reports do not always agree either in terms of amount or direction.

By: Mike Yamamoto

[abdogman]

0815EDT December ADP Employment Change 297K vs 100K Briefing.com consensus

[abdogman]

Good Morning Gang ......Ask thx for nmbrs and info ......GLTA...back for the open

[abdogman]

0815EDT briefing . com Crude oil ticking higher following econ data; currently off 76 cents to $88.62

[kryptos2009]

Good Morning Gang!!!

Here is the PP Daily Thread (PPDT) data.


XLF PP=16.27
MP=16.33 R1=16.39 MP=16.45 R2=16.51 MP=16.63 R3=16.75 MP=16.87 R4=16.99
MP=16.21 S1=16.15 MP=16.09 S2=16.03 MP=15.91 S3=15.79 MP=15.67 S4=15.55
O=16.36 H=16.38 L=16.14 C=16.28

FAS PP=29.16
MP=29.47 R1=29.77 MP=30.08 R2=30.39 MP=31.00 R3=31.62 MP=32.23 R4=32.85
MP=28.85 S1=28.54 MP=28.24 S2=27.93 MP=27.31 S3=26.70 MP=26.08 S4=25.47
O=29.71 H=29.77 L=28.54 C=29.16

FAZ PP=8.98
MP=9.07 R1=9.16 MP=9.26 R2=9.35 MP=9.54 R3=9.72 MP=9.91 R4=10.09
MP=8.89 S1=8.79 MP=8.70 S2=8.61 MP=8.43 S3=8.24 MP=8.06 S4=7.87
O=8.82 H=9.17 L=8.8 C=8.97

SPY PP=126.85
MP=127.18 R1=127.50 MP=127.77 R2=128.03 MP=128.62 R3=129.21 MP=129.80 R4=130.39
MP=126.59 S1=126.32 MP=126.00 S2=125.67 MP=125.08 S3=124.49 MP=123.90 S4=123.31
O=127.33 H=127.37 L=126.19 C=126.98

SPG PP=98.80
MP=99.47 R1=100.14 MP=101.24 R2=102.33 MP=104.10 R3=105.86 MP=107.63 R4=109.39
MP=97.71 S1=96.61 MP=95.94 S2=95.27 MP=93.51 S3=91.74 MP=89.98 S4=88.21
O=100.77 H=101 L=97.47 C=97.94

GS PP=173.03
MP=173.54 R1=174.05 MP=174.54 R2=175.03 MP=176.03 R3=177.03 MP=178.03 R4=179.03
MP=172.54 S1=172.05 MP=171.54 S2=171.03 MP=170.03 S3=169.03 MP=168.03 S4=167.03
O=173.87 H=174 L=172 C=173.08

JPM PP=43.93
MP=44.23 R1=44.53 MP=44.71 R2=44.89 MP=45.37 R3=45.85 MP=46.33 R4=46.81
MP=43.75 S1=43.57 MP=43.27 S2=42.97 MP=42.49 S3=42.01 MP=41.53 S4=41.05
O=43.78 H=44.3 L=43.34 C=44.16

MS PP=28.32
MP=28.49 R1=28.65 MP=28.74 R2=28.82 MP=29.07 R3=29.32 MP=29.57 R4=29.82
MP=28.24 S1=28.15 MP=27.99 S2=27.82 MP=27.57 S3=27.32 MP=27.07 S4=26.82
O=28.46 H=28.5 L=28 C=28.47

C PP=4.89
MP=4.92 R1=4.95 MP=4.98 R2=5.00 MP=5.06 R3=5.11 MP=5.17 R4=5.22
MP=4.87 S1=4.84 MP=4.81 S2=4.78 MP=4.73 S3=4.67 MP=4.62 S4=4.56
O=4.91 H=4.94 L=4.83 C=4.9

VIX PP=17.65
MP=17.81 R1=17.97 MP=18.27 R2=18.56 MP=19.02 R3=19.47 MP=19.93 R4=20.38
MP=17.36 S1=17.06 MP=16.90 S2=16.74 MP=16.29 S3=15.83 MP=15.38 S4=14.92
O=17.34 H=18.24 L=17.33 C=17.38

UUP PP=22.85
MP=22.90 R1=22.94 MP=22.97 R2=23.00 MP=23.08 R3=23.15 MP=23.23 R4=23.30
MP=22.82 S1=22.79 MP=22.75 S2=22.70 MP=22.63 S3=22.55 MP=22.48 S4=22.40
O=22.76 H=22.91 L=22.76 C=22.88

FROM: www.econoday.com

Economic Events & Analysis - 1/05/2011 Wednesday


7:00 AM ET MBA Purchase Applications
7:30 AM ET Challenger Job-Cut Report
8:15 AM ET ADP Employment Report
10:00 AM ET ISM Non-Mfg Index
10:30 AM ET EIA Petroleum Status Report


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.

[abdogman]

0815 Briefing . com Highest ADP number in the history of the report

[abdogman]

Thx Kryptos......Good Morning!

[ccash04]

Cobra:

"SHORT-TERM: COULD SEE MORE ON THE UPSIDE

Whether the yesterday’s high is the high or today’s low is a low, I have no clue (well, as usual), need see tomorrow (again, as usual). Generally, the previous high should at least be tested once because we earth people like to try twice before giving up and turning to the opposite. In the language of indicator, it means a negative divergence of RSI is needed before a little bigger pullback is possible which right now is still missing. So purely from the price pattern, looks like there’s one more push up ahead at least.



The bear need watch today’s low for a possible 1-2-3 trend change. If indeed, then because of the possible time resistance, see chart below (the original idea is from Elliott Wave International), 1 = 5 and 2 = 4 in terms of trading days, this time, bear may have a better chance. By the way, if 1 = 5 in terms of price, then SPX target should be 1291, as since today is the 25th trading day since the wave 5 started, so bull still have 2 days (26 to 27 trading day) to achieve this goal, in theory, of course.



Nothing else to say, I mentioned that when both CPC and CPCE are low, it could mean a top of some kind yesterday, today the CPC and CPCE still are very low, so I’d like your attention."

[ccash04]

Jan 5, 2011 8:25:04 GMT -5 abdogman said:

0815 Briefing . com Highest ADP number in the history of the report

It would be great to see the NFP then post the lowest number lol

[ccash04]

Bonds are selling off... I checked this morning before the NFP and they looked ready to jump.. To me it looks like a failed b/o and could result in a move back to early Dec. lows. (Failed moves can often be just as good as a b/o move).

[ccash04]

It will be interesting to see if the ISM non-manufacturing number will confirm the ADP.. if it does then expectations for the NFP will be significantly higher.

[deadmoney95]

Good morning everyone and thank you.

Carl F:

March S&P E-mini Futures: Today's range estimate is 1252-1254. I think a top building process is underway and will be followed by a drop of 50 points. Once it is complete the market will resume its advance to 1300.

Caldaro:

Tuesday’s pullback to SPX 1263 represents a 13 point pullback from yesterday’s 1276 high. This, in itself, is nothing unusual for this uptrend and the Intermediate wave five rally. Since the Int. wave four low at SPX 1173 there have been pullbacks of 14 and 15 points, and five notable pullbacks under 10 points. We have been tracking this rally with the following wave count: Minor 1 SPX 1247, Minor 2 SPX 1233, Minute one 1263, Minute two SPX 1254 and Minute three underway. Today’s pullback to SPX 1263 has nearly overlapped our Minute wave one. This is acceptable if this pullback is part of a subdividing Minute wave three, or a C wave of an irregular Minute wave two. However, when the market does something unexpected it is time to review the charts.

In our review we noticed that this rally, from the Intermediate wave four low at SPX 1173, can also be counted as five waves up: Minor 1 SPX 1247, Minor 2 SPX 1233, Minor 3 1263, Minor 4 SPX 1254 and Minor 5 SPX 1276. We posted this potential count on the DOW hourly chart and made note of it in the comment section. Unfortunately, even if this pullback overlaps our Minute wave one at SPX 1263 there are several potential bullish short term counts still remaining. However, an overlap of SPX 1263 would be the first caution for a potential uptrend top as well. Since this uptrend has already lasted for six months some caution around current levels is advised. If we have experienced an uptrend top at SPX 1276 specific support areas under the market should start to give way.

The first, and important, support is the OEW 1261 pivot range, (1254-1268). A pullback to the lower end of the range would be okay for an irregular Minute wave two, but it would also represent the biggest pullback of the entire Int. wave five rally, (1276-1254), 22 points. This would not be a good sign going forward. The second and more significant support is the OEW 1240 pivot range, (1233-1247). Should the market pullback into this range the decline off the SPX 1276 high would now overlapping the Minor wave 1 high at SPX 1247. A downtrend confirmation is likely to follow if this occurs. To sum it up. A pullback below SPX 1263 is a caution, below SPX 1254 is a warning, and below SPX 1247 would likely confirm an uptrend top at SPX 1276. Until one, or all, of these events occur the uptrend remains on track to reach the OEW 1313 pivot. Just being objective. Best to your trading!

[abdogman]

xlf 16.22 on 1m

[abdogman]

macd on 1m iyr drn xlf fas is +

xlf 16.268
fas 29.16

iyr 55.98
drn 57.00

on 1m

[abdogman]

xlf 16.29
fas 29.30

iyr 55.92
drn 56.79

on 1m

[clearwaters]

Do you all see how they are killing FAS? I guess when all those negative articles they put out last year about ETFs didn't work, they had to try something new.

[abdogman]

macd neg on 1m iyr and drn for last 5 m's
macd still + on 1m xlf fas

BB's narrowing on 1m iyr drn

xlf 16.335
fas 29.48

iyr 55.95
drn 56.83

on 1m

[abdogman]

macd on 1m xlf fas just going neg now
macd still neg on 1m iyr drn

BB's spreading on 1m iyr drn and t hey are on the bottom band

xlf 16.325
fas 29.371

iyr 55.82
drn 56.40

on 1m

[abdogman]

BB's narrowing on 1m xlf fas

macd on 1m drn and iyr moving toward + from 0/0
macd on 1m xlf fas nearing 0/0 from neg

xlf 16.36
fas 29.57

iyr 55.90
drn 56.745

on 1m

[abdogman]

macd on 1m iyr drn xlf fas is + now

xlf 16.379
fas 29.66

iyr 55.9011
drn 56.722

on 1m

[ccash04]

Good ISM Number.

[abdogman]

Jan 5, 2011 10:09:53 GMT -5 ccash04 said:

Good ISM Number.

1000EDT December ISM Services 57.1 vs 55.7 Briefing.com consensus; November 55.0

[abdogman]

10:30 AM ET EIA Petroleum Status Report

[abdogman]

macd on 1m xlf fas is neg now
macd on 1m iyr drn moving toward 0/0 from +

[brosin]

Good morning all, thanks for all the info!!

[abdogman]

macd neg now on 1m iyr drn

Eur/usd on 1m 1.3132

BB's narrowing on 1m xlf fas drn

xlf 16.38
fas 29.66

iyr 55.9199
drn 56.75

on 1m

[ccash04]

dollar is looking nice, i think we see some continued commodity pressure here, im short PAAS and selling put spreads (bull spreads) in NEM.

[abdogman]

1030EDT * Crude oil inventories had a draw of 4161K (consensus is a draw of 2000K)
* Gasoline inventories had a build of 1148K (consensus is a build of 750K)
* Distillate inventories had a build of 3289K (consensus is a build of 500K)
* The change in refinery utilization was 0.20% (consensus was 0.00%)

from Briefing . com