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Post by ask2lern on Sept 29, 2010 6:30:33 GMT -5
Can someone please move to sticky section.....
Here are the pivots……….…hope everyone has a great day …………………GLTA
GOLD
R4 1382.27 midpoint 1368.87 R3 1355.47 midpoint 1342.07 R2 1328.67 Midpoint 1324.00 R1 1319.33 midpoint 1310.60
PP 1301.87
midpoint 1297.20 S1 1292.53 midpoint 1283.80 S2 1275.07 midpoint 1261.67 S3 1248.27 midpoint 1234.87 S4 1221.47
SILVER
R4 23.68 midpoint 23.33 R3 22.97 midpoint 22.62 R2 22.26 midpoint 22.14 R1 22.01 midpoint 21.78
PP 21.55
midpoint 21.43 S1 21.30 midpoint 21.07 S2 20.84 midpoint 20.49 S3 20.13 midpoint 19.78 S4 19.42
IMW
R3 70.71 R2 68.83 R1 68.16
PP 66.95
S1 66.28 S2 65.07 S3 63.19
TNA
R4 57.43 midpoint 55.52 R3 53.60 midpoint 51.69 R2 49.77 midpoint 49.08 R1 48.39 midpoint 47.17
PP 45.94
midpoint 45.25 S1 44.56 midpoint 43.34 S2 42.11 midpoint 40.20 S3 38.28 midpoint 36.37 S4 34.45
TZA
R4 33.41 Midpoint 32.29 R3 31.18 midpoint 30.06 R2 28.95 midpoint 28.23 R1 27.50 midpoint 27.11
PP 26.72
midpoint 26.00 S1 25.27 midpoint 24.88 S2 24.49 midpoint 23.37 S3 22.26 midpoint 21.14 S4 20.03
SDS
R3 31.41 R2 30.45 R1 29.86
PP 29.49
S1 28.90 S2 28.53 S3 27.57
………………………..GLTA
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Post by ask2lern on Sept 29, 2010 6:31:48 GMT -5
From http://www.optionmonster.com.............................GL
Russell 2000 near top of its range September 29, 2010 Wed 12:11 AM CT
The indexes did not move far enough to break resistance and finished mostly flat yesterday, with the exception of the Russell 2000, which managed to move closer to the high of its trading range at 677.15.
As a result of the inaction, levels for all the indexes remain as they were yesterday morning. If the RUT does manage to break through the top of its range, next resistance would be at 689.89.
Nasdaq 100 (NDX)
First support is at 2003.59. First resistance is at 2044.39.
For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $49.32. First resistance is at $50.29.
S&P 500 (SPX)
First support is at 1131.23. First resistance is at 1156.39.
For the Standard & Poor's Depository Receipts (SPY) first support is at $113.20. First resistance is at $115.89.
Russell 2000 (RUT)
First support is at 655.91. First resistance is at 677.15.
For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $65.39. First resistance is at $67.99.
By: Bryan McCormick
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Post by ask2lern on Sept 29, 2010 6:46:28 GMT -5
From http://www.optionmonster.com.......................GLTA
Fed speech, housing, oil on calendar September 29, 2010 Wed 12:02 AM CT
The calendar is short today with just two economic reports, but there is at least one Fed speech that has the potential to move markets.
The first report of the day will be MBA Purchase Applications at 7 a.m. ET. I look only at the purchases component of the mortgage report, which indicates new economic activity as opposed to refinancing. There is no forecast available for this report.
Last week's total for purchases came in at 177.6. If this week's number comes in higher than the previous reading by 5 percent or more, it would be bullish. If it comes in lower by 5 percent or more, it would be bearish.
The EIA Petroleum Status Report will be released at 10:30 a.m. ET. The American Petroleum Institute released its competing inventory report yesterday after the market closed. The API had forecast a small draw of -0.3 million barrels but instead showed a large reduction of -2.415 million barrels. Crude prices traded higher overnight.
The EIA has the same forecast, calling for a draw of -0.3 million barrels. If the EIA report shows a similarly large draw as the API number, it would likely be bullish for crude pricing. If instead the report shows a smaller draw or a build, it would likely be bearish for oil.
The API is a private industry group, while the EIA is a government agency. The two reports do not always agree on either direction or magnitude.
Charles Plosser, president of the Philadelphia Federal Reserve Bank will speak on winding down monetary stimulus at 12:30 p.m. ET. Given the current focus on quantitative easing, the talk could include some surprises. Traders should be aware of the potential for price swings during the remarks.
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Post by abdogman on Sept 29, 2010 7:26:31 GMT -5
Good Morning Gang....Thx Ask for the nmbrs and info .....GLTA!
back for the open
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Post by kryptos2009 on Sept 29, 2010 7:33:27 GMT -5
Here is the PP Daily Thread (PPDT) data. XLF PP=14.44 MP=14.50 R1=14.56 MP=14.61 R2=14.65 MP=14.75 R3=14.86 MP=14.96 R4=15.07 MP=14.40 S1=14.35 MP=14.29 S2=14.23 MP=14.12 S3=14.02 MP=13.91 S4=13.81 O=14.5 H=14.52 L=14.31 C=14.48 FAS PP=21.55 MP=21.82 R1=22.08 MP=22.26 R2=22.43 MP=22.87 R3=23.31 MP=23.75 R4=24.19 MP=21.38 S1=21.20 MP=20.94 S2=20.67 MP=20.23 S3=19.79 MP=19.35 S4=18.91 O=21.8 H=21.89 L=21.01 C=21.74 FAZ PP=13.26 MP=13.37 R1=13.47 MP=13.64 R2=13.81 MP=14.09 R3=14.36 MP=14.64 R4=14.91 MP=13.09 S1=12.92 MP=12.82 S2=12.71 MP=12.44 S3=12.16 MP=11.89 S4=11.61 O=13.11 H=13.6 L=13.05 C=13.13 SPY PP=114.30 MP=114.86 R1=115.41 MP=115.79 R2=116.16 MP=117.09 R3=118.02 MP=118.95 R4=119.88 MP=113.93 S1=113.55 MP=113.00 S2=112.44 MP=111.51 S3=110.58 MP=109.65 S4=108.72 O=114.42 H=115.04 L=113.18 C=114.67 SPG PP=93.47 MP=94.03 R1=94.58 MP=94.94 R2=95.30 MP=96.21 R3=97.13 MP=98.04 R4=98.96 MP=93.11 S1=92.75 MP=92.20 S2=91.64 MP=90.72 S3=89.81 MP=88.89 S4=87.98 O=93.91 H=94.18 L=92.35 C=93.87 GS PP=145.25 MP=145.85 R1=146.45 MP=147.17 R2=147.88 MP=149.20 R3=150.51 MP=151.83 R4=153.14 MP=144.54 S1=143.82 MP=143.22 S2=142.62 MP=141.31 S3=139.99 MP=138.68 S4=137.36 O=146.51 H=146.69 L=144.06 C=145.01 JPM PP=38.99 MP=39.18 R1=39.36 MP=39.57 R2=39.78 MP=40.17 R3=40.57 MP=40.96 R4=41.36 MP=38.78 S1=38.57 MP=38.39 S2=38.20 MP=37.80 S3=37.41 MP=37.01 S4=36.62 O=39.36 H=39.4 L=38.61 C=38.95 MS PP=24.61 MP=24.75 R1=24.88 MP=25.07 R2=25.25 MP=25.57 R3=25.89 MP=26.21 R4=26.53 MP=24.43 S1=24.24 MP=24.11 S2=23.97 MP=23.65 S3=23.33 MP=23.01 S4=22.69 O=24.98 H=24.99 L=24.35 C=24.5 C PP=3.87 MP=3.89 R1=3.91 MP=3.92 R2=3.93 MP=3.96 R3=3.99 MP=4.02 R4=4.05 MP=3.86 S1=3.85 MP=3.83 S2=3.81 MP=3.78 S3=3.75 MP=3.72 S4=3.69 O=3.89 H=3.9 L=3.84 C=3.88 VIX PP=23.09 MP=23.44 R1=23.79 MP=24.38 R2=24.97 MP=25.91 R3=26.85 MP=27.79 R4=28.73 MP=22.50 S1=21.91 MP=21.56 S2=21.21 MP=20.27 S3=19.33 MP=18.39 S4=17.45 O=22.92 H=24.28 L=22.4 C=22.6 UUP PP=22.93 MP=22.98 R1=23.02 MP=23.09 R2=23.15 MP=23.26 R3=23.37 MP=23.48 R4=23.59 MP=22.87 S1=22.80 MP=22.76 S2=22.71 MP=22.60 S3=22.49 MP=22.38 S4=22.27 O=23.01 H=23.07 L=22.85 C=22.88 FROM: www.econoday.comEconomic Events & Analysis - 9/29/2010 Wednesday7:00 AM ET MBA Purchase Applications Released on 9/29/2010 7:00:00 AM For wk9/24, 2010 Prior Actual Purchase Index - W/W Change -3.3 % 2.4 % Refinance Index - W/W Change -0.9 % -1.6 % Composite Index - W/W Change -0.8 % Highlights MBA Purchase Applications rose 2.4 percent in the September 24 week to end two prior weeks of decline in what has been an up-and-down month. The gain is centered in a 4.5 percent rise in government purchase applications vs. a 0.8 percent rise for conventional applications. Yet the great bulk of mortgage applications, 81% in the latest week, is for refinancing where the index slipped 1.6 percent. MBA's composite index fell 0.8 percent. Rates are extremely low, at 4.38 percent for 30-year loans, down six basis points in the week and a new low for the series. 10:15 AM ET Narayana Kocherlakota Speaks 10:30 AM ET EIA Petroleum Status Report 12:30 PM ET Charles Plosser Speaks 1:00 PM ET 7-Yr Note Auction 1:15 PM ET Eric Rosengren Speaks 3:00 PM ET Farm Prices 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.
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Post by ccash04 on Sept 29, 2010 8:09:08 GMT -5
Cobra: SHORT-TERM: BULLS ON OFFENSE BUT BEARS MAY STILL HAVE CHANCES
Short-term direction still depends on which side breaks first, SPX 1148 or and 1122. See 09/27 Market Recap for more details. For now bulls are on offense as an Ascending Triangle could be formed. If breakout and up HUGE tomorrow, then bears will have to retreat to the next consolidation area before any potential counterstrikes could be seriously considered.
Of course, bears still have chances, except that according to 6.5.2b Month Day Seasonality Watch, short at today’s close cover before 09/30 close, the odds were 12 out of 13, there’re 2 charts in favor of bears:
VIX Leads SPX. The divergence is a little bit large so the signal might worth some points.
CPCI is a little too high, although not extremely high, but still can see some bearish edges on the chart. A reader asked again about what happened when both VIX and SPX closed in green. Well, see chart below, just a little little little little bearish biased toward tomorrow.
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Post by ccash04 on Sept 29, 2010 8:09:51 GMT -5
Carl:
December S&P E-mini Futures: Today's range estimate is 1138-1153. Next upside target is 1175. The ES will move above 1216 over the coming months.
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Post by ccash04 on Sept 29, 2010 8:13:33 GMT -5
S Place on the VIX:
With the strong rally in the equities market off the 1040 level, many are looking to the options market to get a little insight on whether this rally “will last.” And the conclusions one draws generally will confirm their pre-existing bias. However, I think the action in the VIX and VIX futures have been providing a very interesting narrative over the past few months.
Remember, the VIX is a statistic measuring the supply and demand of SPX options– it is not tradeable, so your basic TA will tell you little about it. It requires some nuance in understanding this specific set of tea leaves.
The Flash Crash There had been a significant overhead level around the 30 line in the VIX before the flash crash. Once the market structure failed on May 6th, we saw a sustained bid for S&P premium as funds and large players rushed to protect themselves out of fear that the flash crash would lead to something worse. Over the course of the early summer, we continued to see an elevated range being put in as there was still an overhang of fear in this market.
A Drop in Demand Leads To… But the VIX was continuing to make lower highs– this makes sense: the traders who bought puts and other protection a week ago don’t need to buy it again, so you see this drop in demand for S&P premium. We’ve essentially seen these lower highs continue to drop, and we are now between the “support” level and the trend of less premium demand.
Putting It All Together How does this relate to the market rally? I think Scott Bleier has laid out the best thesis– the market rallied in part because way too many people are protected and fully hedged right now– once all that premium burns off, it may be a different story. While it is not apparent now, there had been a constant level of fear since the 1040 retest. Remember when everyone said how September was going to be a terrible month and the VIX futures were pointing in that direction? Well, the option guys got it wrong– they weren’t the smart money in this case. We are still seeing that effect in the VIX futures, with an elevated curve a few months out as traders are still expecting more volatility going into the fall. They may turn out to be right, but they may not make money.
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Post by abdogman on Sept 29, 2010 8:35:35 GMT -5
xlf 14.40 on 1m macd neg on 1m xlf fas
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Post by abdogman on Sept 29, 2010 8:42:29 GMT -5
xlf 14.42 on 1m
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Post by abdogman on Sept 29, 2010 8:48:10 GMT -5
BB's narrowing on 1m xlf fas faz vix and uup xlf 14.39 on 1m macd at 00 on 1m xlf fas faz
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Post by abdogman on Sept 29, 2010 8:49:57 GMT -5
xlf 14.37 on 1m
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Post by abdogman on Sept 29, 2010 8:52:45 GMT -5
BB's spreading on 1m xlf fas faz xlf fas on 1m on bottom Band macd neg on 1m xlf fas xlf 14.36 on 1m
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Post by ccash04 on Sept 29, 2010 8:54:55 GMT -5
No surprise morning weakness is here w/yesterday's session ending poorly, however, if we don't get over 1150, in the next couple of days it could be a repeat of what happened in August..
In the meantime, MU doing its thing.
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Post by ccash04 on Sept 29, 2010 8:56:01 GMT -5
MU finally broke over its 7.20 resistance which had been resistance for past 3 days look for it to be support now if you want to establish a long position...
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Post by ccash04 on Sept 29, 2010 8:58:20 GMT -5
Ticks not so hot
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Post by ccash04 on Sept 29, 2010 8:59:03 GMT -5
Look for support in the 1142 area.. tight stop but it should bounce..
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Post by abdogman on Sept 29, 2010 9:01:26 GMT -5
macd back pos on 1m xlf fas xlf 14.37 on 1m
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Post by ccash04 on Sept 29, 2010 9:03:06 GMT -5
And bounce, watch the 1142 area on SPX looks to be a support area at least s/t.
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Post by abdogman on Sept 29, 2010 9:03:55 GMT -5
xlf 14.40 on 1m
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Post by ccash04 on Sept 29, 2010 9:04:35 GMT -5
Nice ticks now > 500 but < 1000 thats good.
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Post by brosin on Sept 29, 2010 9:10:47 GMT -5
I'm seeing a lot of green on the things I watch
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Post by abdogman on Sept 29, 2010 9:11:40 GMT -5
BB's narrowing on 1m aud/jpy and vix
xlf 14.39 on 1m
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Post by abdogman on Sept 29, 2010 9:18:23 GMT -5
macd neg now on 1m xlf and fas xlf 14.37 on 1m
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Post by abdogman on Sept 29, 2010 9:22:29 GMT -5
BB's spreading slowly on 1m xlf fas faz xlf fas on lower band macd still neg on 1m xlf fas xlf 14.35 on 1m
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Post by abdogman on Sept 29, 2010 9:27:06 GMT -5
BB's on vix 1m spreading and vix moving up slowly xlf 14.34 on 1m
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Post by abdogman on Sept 29, 2010 9:28:55 GMT -5
here come the Pet Stats
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Post by abdogman on Sept 29, 2010 9:31:02 GMT -5
Dept of Energy reports that:
* Crude oil inventories had a draw of 475K (consensus is a draw of 700K) * Gasoline inventories had a draw of 3469K (consensus is a build of 350K) * Distillate inventories had a draw of 1265K (consensus is a build of 100K) * The change in refinery utilization was -2.00% (consensus was -0.60%)
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Post by abdogman on Sept 29, 2010 9:33:42 GMT -5
macd pos on 1m xlf fas xlf 14.37 on 1m BB's starting to narrow on on 1m xlf fas faz
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Post by natsalilfly on Sept 29, 2010 9:34:03 GMT -5
114.02 lod on spy?
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