PPDT - PP-XLF = 14.65 - 10/06 Wednesday

[kryptos2009]

Here is the PP Daily Thread (PPDT) data.


XLF PP=14.65
MP=14.76 R1=14.87 MP=14.95 R2=15.02 MP=15.20 R3=15.39 MP=15.57 R4=15.76
MP=14.58 S1=14.50 MP=14.39 S2=14.28 MP=14.09 S3=13.91 MP=13.72 S4=13.54
O=14.53 H=14.79 L=14.42 C=14.73

FAS PP=22.38
MP=22.85 R1=23.32 MP=23.60 R2=23.88 MP=24.63 R3=25.38 MP=26.13 R4=26.88
MP=22.10 S1=21.82 MP=21.35 S2=20.88 MP=20.13 S3=19.38 MP=18.63 S4=17.88
O=21.93 H=22.95 L=21.45 C=22.75

FAZ PP=12.71
MP=12.88 R1=13.05 MP=13.35 R2=13.64 MP=14.10 R3=14.57 MP=15.03 R4=15.50
MP=12.42 S1=12.12 MP=11.95 S2=11.78 MP=11.31 S3=10.85 MP=10.38 S4=9.92
O=13 H=13.29 L=12.36 C=12.47

SPY PP=115.68
MP=116.18 R1=116.68 MP=117.01 R2=117.33 MP=118.15 R3=118.98 MP=119.80 R4=120.63
MP=115.36 S1=115.03 MP=114.53 S2=114.03 MP=113.20 S3=112.38 MP=111.55 S4=110.73
O=114.8 H=116.32 L=114.67 C=116.04

SPG PP=95.29
MP=95.78 R1=96.27 MP=96.60 R2=96.92 MP=97.74 R3=98.55 MP=99.37 R4=100.18
MP=94.97 S1=94.64 MP=94.15 S2=93.66 MP=92.85 S3=92.03 MP=91.22 S4=90.40
O=95.32 H=95.94 L=94.31 C=95.62

GS PP=148.64
MP=149.93 R1=151.21 MP=152.03 R2=152.85 MP=154.96 R3=157.06 MP=159.17 R4=161.27
MP=147.82 S1=147.00 MP=145.72 S2=144.43 MP=142.33 S3=140.22 MP=138.12 S4=136.01
O=147.56 H=150.28 L=146.07 C=149.57

JPM PP=39.51
MP=39.73 R1=39.95 MP=40.11 R2=40.26 MP=40.64 R3=41.01 MP=41.39 R4=41.76
MP=39.36 S1=39.20 MP=38.98 S2=38.76 MP=38.39 S3=38.01 MP=37.64 S4=37.26
O=39.36 H=39.82 L=39.07 C=39.64

MS PP=25.36
MP=25.66 R1=25.95 MP=26.20 R2=26.44 MP=26.98 R3=27.52 MP=28.06 R4=28.60
MP=25.12 S1=24.87 MP=24.58 S2=24.28 MP=23.74 S3=23.20 MP=22.66 S4=22.12
O=25.03 H=25.84 L=24.76 C=25.47

C PP=4.12
MP=4.14 R1=4.16 MP=4.18 R2=4.20 MP=4.24 R3=4.28 MP=4.32 R4=4.36
MP=4.10 S1=4.08 MP=4.06 S2=4.04 MP=4.00 S3=3.96 MP=3.92 S4=3.88
O=4.07 H=4.15 L=4.07 C=4.13

VIX PP=22.18
MP=22.42 R1=22.66 MP=23.11 R2=23.55 MP=24.24 R3=24.92 MP=25.61 R4=26.29
MP=21.74 S1=21.29 MP=21.05 S2=20.81 MP=20.13 S3=19.44 MP=18.76 S4=18.07
O=22.52 H=23.08 L=21.71 C=21.76

UUP PP=22.57
MP=22.60 R1=22.62 MP=22.65 R2=22.68 MP=22.74 R3=22.79 MP=22.85 R4=22.90
MP=22.54 S1=22.51 MP=22.49 S2=22.46 MP=22.41 S3=22.35 MP=22.30 S4=22.24
O=22.6 H=22.63 L=22.52 C=22.56

FROM: www.econoday.com

Economic Events & Analysis - 10/06/2010 Wednesday


7:00 AM ET MBA Purchase Applications
7:30 AM ET Challenger Job-Cut Report
8:15 AM ET ADP Employment Report
10:30 AM ET EIA Petroleum Status Report
3:00 PM ET Treasury STRIPS


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]

Good Morning Gang.....Kryptos thx for the nmbrs and info....GLTA!!

back for the open!

[actuarynomore]

MVIS up 4.3% PM - Woo Woo - Let's party before everyone else wakes up

[brosin]

Thanks Krypt

[brosin]

From Brian Shannon:
www.alphatrends.net/

[brosin]

Caldaro:
caldaroew.spaces.live.com

Overnight the Asian markets were mixed. Europe opened higher and closed +1.40%. FED chariman Bernanke gave an unscheduled speech last night in R.I.: www.federalreserve.gov/newsevents/speech/bernanke20101004a.htm. US index futures were higher overnight, after the BOJ joined the Quantitative Easing agenda: www.marketwatch.com/story/japan-cuts-rates-yen-falls-nikkei-rises-2010-10-05?siteid=bnbh. The market gapped up at the open to SPX 1145, it had closed at 1137 yesterday. As the rally continued at 10:00 ISM services reported improvement: 53.2 v 51.5. Just past 10:00 the SPX broke through the 1150 resistance level and continued higher. At 12:00 the FED made the following press release: www.federalreserve.gov/newsevents/press/monetary/20101005a.htm. Nearing 1:00, with not more than a four point pullback along the way, the SPX cleared the 1150 resistance level and headed toward the next OEW pivot at 1168. Quite a rally! Around 3:30 the SPX hit 1163 and then pulled back a bit to close at SPX 1161.

For the day the SPX/DOW were +1.95%, and the NDX/NAZ were +2.45%. Bonds gained 5 ticks, Crude rallied $1.25, Gold surged $25.00, and the USD was lower. Support for the SPX moves back up to 1146 and then 1136, with resistance at 1168 and then 1176. Short term momentum is quite overbought. Tomorrow, Mortgage applications at 7:00, then the ADP employment report at 8:30.

Yesterday's pullback to SPX 1132 matched last week's low, and the low of Minute wave two. This suggested, as reported yesterday, the potential for an irregular Minute wave two flat at SPX 1132. It also, however, left a few options open for the market. This morning the market took the first option as it gapped clear of the OEW 1136 pivot at the open, turning the OEW short term charts positive, Then it cleared the 1146 pivot, the tough resistance at SPX 1150, and headed toward the OEW 1168 pivot. The last time the market was trading at these levels was in May. Now that it appears the resistance at SPX 1150 has been cleared, the next major obstacle should be the SPX 1220 bull market high set in April. The market ended the day extremely overbought, and a pullback of 10-15 points can occur at any time.

[brosin]

Cobra:
cobrasmarketview.blogspot.com/

The bottom line, the short-term trend is up, I hold partial long position overnight.

A strong up day like today almost guarantees an immediate higher high, so although, officially, a follow-through tomorrow is still needed in case of reversal of reversal of reversal, but judging by today’s strength, I won’t hope much about such kind of reversal of reversal of reversal tomorrow. Rather, as I’ve been saying, a decisive breakout above the consolidation area means bears may have to find the next consolidation area before considering any possible counterstrikes, until then better stay bullish for short-term or at least on the sideline.


SHORT-TERM: BULLISH, BUT WILL MAINTAIN INTERMEDIATE-TERM BEARISH VIEW

All I wanted to say are already in today’s After Bell Quick Summary: Since the market has chosen to decisively breakout of the consolidation area on the upside so the short-term is bullish while bears have to wait for the next consolidation area before any possible counterstrikes.

However for the intermediate-term, I’ll maintain the bearish view. The main reasons are:

1. As mentioned in 10/01 Market Recap, the Commercial Hedgers have piled up historical high Nasdaq 100 short positions.
2. Statistically, the Earning Season starting within this week may very likely underperform, because the market was up a lot in off-season.

The chart below should clearly illustrate the similarity between now and the 04/01/2010 breakout, therefore the worst case for bears, maybe another 16 trading days upswing ahead.

lh6.ggpht.com/_APmrYvpA45s/TKvUL7yHkQI/AAAAAAAAIyc/f8Rky9y4E-I/s1600-h/Consolidation%5B2%5D.png

As for the possible price and time target for the “another 16 trading days upswing”, I need see a follow-through tomorrow before further blah blah, in case we see yet another reversal of reversal of reversal. Overall, as long as the market doesn’t drop huge tomorrow, I’d consider today’s breakout as valid and in this case the pivot date around 10/05 I mentioned in 10/01 Market Recap would become invalid, while the pivot date around 10/11 would have to “wait and see”.

lh5.ggpht.com/_APmrYvpA45s/TKvUNI2hWrI/AAAAAAAAIyk/bCTfFpWGxto/s1600-h/PriceAndTimeAnalysis%5B2%5D.png

[abdogman]

macd + on 1m xlf fas
xlf 14.75 on 1m

[ccash04]

Ticks have been solid so far..

[ccash04]

with the dollar destruction occuring everyday it looks like FCX will blast thru 100.

[deadmoney95]

CarlFutia

$ES_F today's day session range estimate is 1152-1169

[abdogman]

macd neg now on 1m xxlf fas
xlf 14.70 on 1m

[ccash04]

Dollar down but stocks down?! what the hell!

[jack]

Geithner must be bank bashing in his talk - can anyone confirm?

[abdogman]

xlf 14.69 on 1m
BB's spreading on 1m xlf fas faz

[abdogman]

xlf 14.68 on 1m

[abdogman]

macd now + on 1m xlf fas
xlf 14.71 on 1m

[abdogman]

xlf 14.735 on 1m

[abdogman]

xlf 14.76 on 1m
BB's spreading on 1m xlf fas faz
xlf fas on 1m on top band

[abdogman]

macd just went neg on 1m xlf fas
BB's narrowing slowly on 1m xlf fas faz
xlf 14.735 on 1m

[jack]

Bored

Got overhead registers to play with - seeya later

Remember to keep Kbk in your thoughts today - he's supposed to get some news back from the quacks which may be seriously life-changing.

Thanks

[abdogman]

macd + now on 1m xlf fas
xlf 14.75 on 1m

[abdogman]

Dept of Energy reports that:

* Crude oil inventories had a buil of 3088K (consensus is a build of 413K)
* Gasoline inventories had a draw of 2646K (consensus is a draw of 250K)
* Distillate inventories had a draw of 1124K (consensus is a draw of 1000K)
* The change in refinery utilization was -2.70% (consensus was -0.45%)

[abdogman]

xlf 14.76 on 1m

[abdogman]

macd neg for last 5 min on 1m xlf fas
xlf 14.73 on 1m

[brosin]

Oct 6, 2010 9:31:21 GMT -5 abdogman said:

Dept of Energy reports that:

* Crude oil inventories had a buil of 3088K (consensus is a build of 413K)
* Gasoline inventories had a draw of 2646K (consensus is a draw of 250K)
* Distillate inventories had a draw of 1124K (consensus is a draw of 1000K)
* The change in refinery utilization was -2.70% (consensus was -0.45%)

Those are some big divergences, thanks AB

[abdogman]

macd + now on 1m xlf fas
xlf 14.77 on 1m

[ccash04]

Oct 6, 2010 10:08:12 GMT -5 brosin said:

Oct 6, 2010 9:31:21 GMT -5 abdogman said:

Dept of Energy reports that:

* Crude oil inventories had a buil of 3088K (consensus is a build of 413K)
* Gasoline inventories had a draw of 2646K (consensus is a draw of 250K)
* Distillate inventories had a draw of 1124K (consensus is a draw of 1000K)
* The change in refinery utilization was -2.70% (consensus was -0.45%)

Those are some big divergences, thanks AB

Refiners have slowed production.

[abdogman]

Gotta go do Dogs and Lunch earlier than usual today.........back this afternoon....Good Luck!!


xlf on 1m 14.765 and macd +

[ccash04]

Its amazing as soon as the POMO ends there is a drop in high beta tech. names.