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Post by brosin on Sept 2, 2010 0:07:01 GMT -5
Courtesy of Brian Shannon at AlphatrendsCaldaro: Overnight the Asian markets were mostly higher. Europe opened higher and closed +2.70%. US index futures were higher overnight and at 8:15 the ADP employment index reported a job loss: -10K v +42K. At 9:00 FED general counsel Alvarez testified before Congress: www.federalreserve.gov/newsevents/testimony/alvarez20100901a.htm. The market gapped up at the open to SPX 1057 and continued to rally. The SPX had closed at 1049 yesterday. At 10:00 Construction spending was reported lower: -1.0% v +0.1%, but ISM manufacturing was reported higher: 56.3 v 55.5. The market, having cleared the OEW 1058 pivot, continued to move higher. Around 11:00 FED governor Duke's speech was released: www.federalreserve.gov/newsevents/speech/duke20100901a.htm. Nearing noon the SPX hit 1080 its highest level since a week ago monday. Around this time monthly Auto sales were reported lower: F -10.7% and GM -25%. The market then went sideways, trading between SPX 1076 and 1080, until about 3:30. Then it nudged out a new highon the day at SPX 1081 and closed at 1080. For the day the SPX/DOW were +2.75%, and the NDX/NAZ were +3.00%. Bonds lost 23 ticks, Crude rallied $2.10, Gold slipped $3.00, and the USD was lower. Support for the SPX jumps to 1058 and then 1041, with resistance at 1090 and then 1107. Short term momentum rose from just slightly oversold to nearly extremely overbought during the rally. Tomorrow, weekly Jobless claims at 8:30, along with Productivity and Unit labor costs. At 9:00 Senate testimony from FED chairman Bernanke. Then at 10:00 Factory orders and Pending homes sales. Non-farm payrolls is on friday. Overnight buying did not fade like it did sunday night and the market gapped up at the open. The gap up cleared the six day resistance at the OEW 1058 pivot in the opening munutes and the market moved higher. Naturally, the short term OEW charts turned positive once that pivot was cleared. Thus far, support has held at the OEW 1041 pivot after three tests over the past week. Looking ahead. In order for the uptrend to resume the 1090 pivot has to be cleared next. As noted yesterday, should the 1041 pivot fail a downtrend will very likely be confirmed. Short term momentum is displaying the typical overbought level that has recently led to pullbacks. Best to your trading! Cobra: The bottom line, the short-term trend is up, I hold partial long position overnight. As for tomorrow, I’ve got mixed signal. The only thing I’m sure is that it’s unlikely a huge up day (less than 1%). Bull’s Camp: When CPC <= 0.81, 44 out of 66 times (67%) a green day the next day. Firstly, let me correct one error. In today’s After Bell Quick Summary, I said because CPC <= 0.81, so there’re 67% chances a green day tomorrow. However the final CPC reading was adjusted to 0.82, therefore the bullish statistics for tomorrow is no longer valid. The other 2 statistics are all slightly bearish, plus the Labor Day seasonality for tomorrow is not very bull friendly (See 08/27 Market Recap), so the conclusion should be tomorrow is slightly bearish. Anyway, overall, the rebound shouldn’t be just one day wonder, so even indeed tomorrow is slightly bearish, it should be a healthy pullback. The reason is 6.3.1a Major Accumulation Day Watch, tradable bottom if 2 Major Accumulation Day within 5 days. Bespoke: Bearish Sentiment Rises to Highest Level Since March 2009In mid-August we noted that investment advisers picked the wrong time to turn bullish as bullish sentiment rose sharply just before the S&P 500 began its next leg lower. While early August was the wrong time to turn bullish, will early September be the wrong time to turn bearish? Today's release of bearish sentiment from Investors Intelligence showed the highest level of bears since the last week of March (37.7%). This came on a day when the S&P 500 had its best day since early July. Still Work to DoThe S&P 500 got off to a strong start to September today with a gain of 2.95%. But the index still has plenty of work to do from a technical perspective before a new bullish case can be made. To start, the index needs to get back above its 50-day moving average, and as shown below, the 50-day acted as a point of resistance today that just couldn't quite be broken. For those hoping that the upside momentum will continue, it will be important to see a close above the 50-day in the next couple of days. Ritholtz:Pop! Back Into the Trading RangeI have recently been complaining about the excessive bearish sentiment. Whether it was Tony Robbin’s economic warnings, the excessive bearishness of Wall Street Analysts, or the the recession porn of the Hindenberg Omen, there has simply been too much negativity. Even the pushback on Leveraged Inverse ETFs had an air of excess and arrogance, that often precedes a reversal. We are seeing that reversal today. The 250 point pop in the Dow is in large part due to the aforementioned sentiment excesses. That’s the good news. The bad news is this move only puts us back into the prior trading range of 1040-1115 on the S&P. And, it makes that 1040 level even more important. (Woe to the SPX if and 1040 breaks).
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Post by ask2lern on Sept 2, 2010 6:16:50 GMT -5
Thanks for the info Bros ……….Here are the pivots……….…hope everyone has a great day …………………GLTA
GOLD
R4 1290.33 midpoint 1283.23 R3 1276.13 midpoint 1269.03 R2 1261.93 Midpoint 1257.80 R1 1253.67 midpoint 1250.70
PP 1247.73
midpoint 1243.60 S1 1239.47 midpoint 1236.50 S2 1233.53 midpoint 1226.43 S3 1219.33 midpoint 1212.23 S4 1205.13
SILVER
R4 20.08 midpoint 19.96 R3 19.85 midpoint 19.73 R2 19.62 midpoint 19.56 R1 19.49 midpoint 19.44
PP 19.39
midpoint 19.33 S1 19.26 midpoint 19.21 S2 19.16 midpoint 19.04 S3 18.93 midpoint 18.81 S4 18.70
IMW
R3 64.56 R2 63.55 R1 63.03
PP 62.02
S1 61.50 S2 60.49 S3 59.97
TNA
R4 44.38 midpoint 43.10 R3 41.82 midpoint 40.54 R2 39.26 midpoint 38.82 R1 38.38 midpoint 37.54
PP 36.70
midpoint 36.26 S1 35.82 midpoint 34.98 S2 34.14 midpoint 32.86 S3 31.58 midpoint 30.30 S4 29.02
TZA
R4 43.79 Midpoint 42.33 R3 40.86 midpoint 39.40 R2 37.93 midpoint 36.98 R1 36.02 midpoint 35.51
PP 35.00
midpoint 34.05 S1 33.09 midpoint 32.58 S2 32.07 midpoint 30.61 S3 29.14 midpoint 27.68 S4 26.21
SDS
R3 35.44 R2 34.97 R1 34.13 PP 33.66
S1 32.82 S2 32.35 S3 31.51
………………………..GLTA
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Post by ask2lern on Sept 2, 2010 6:28:33 GMT -5
from http://www.optionmonster.com...............GLTA
Levels higher after rally September 2, 2010 Thu 12:05 AM CT
Wednesday was a big day for the bulls, with each index up more than 2.5 percent. The Russell 2000 was up even more at 3.81 percent. While the gains were impressive, the indexes closed at or below the mid-points of their larger ranges, near their 50-day moving averages. Volume was impressive for an up session -- something the bulls needed to swing the technical picture in their favor.
In terms of the larger multi-month range, we have retraced a little less than 50 percent. There are a lot of points to go before the top of the range is reached, and some key economic reports lie ahead. If those are positive, we could see the top of the range by Friday. If not, we could shed points as easily as they have been packed on.
Support and resistance levels are fresh for all of the indexes today. Keep the 10-day moving averages in view for support, and the 50-day for resistance. If there is positive news on today, the 200-day moving averages become next upside objectives. There is a lot of room to run above those levels before the top of the range is reached.
Nasdaq 100 (NDX)
First support is at 1794.34. First resistance is at 1830.95 -- the 50-day moving average. On a breakout, the 200-day moving average at 1862.20 would be next resistance.
For the NASDAQ 100 Index Tracking Stock (QQQQ) first support is at $44.14. First resistance is at $45, and thereafter at $45.80.
S&P 500 (SPX)
First support is at 1061.22 -- the 10-day moving average. First resistance is at 1081.31 -- the 50-day moving average. On a breakout, next resistance would be at 1100.
For the Standard and Poor's Depository Receipts (SPY) first support is at $106.51. First resistance is at $108.34, and thereafter at $110.
Russell 2000 (RUT)
First support is at 607.02 -- the 10-day moving average. First major resistance is at 627.77 -- the 50-day moving average, and on a breakout at the 200-day moving average, last at 644.32.
For the iShares Trust Russell 2000 Index Fund (IWM) first support is at $60.74. First resistance is at $62.80, and thereafter at $64.40.
By: Bryan McCormick
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Post by ask2lern on Sept 2, 2010 6:43:59 GMT -5
From http://www.optionmonster.com.........................GLTA Retail and jobs crowd the agendaSeptember 2, 2010 Thu 12:04 AM CT The pace of economic data is only moderately slower today than Wednesday. As we saw then, even a hint of moderately good news can go a long way for the bulls given the negative backdrop. They will be looking for a repeat of that performance today. Chain Store Sales, also known as same-store sales, will be released individually by the various retailers between 6am eastern and the market open. The SPDR S&P Retail and the Retail HOLDRs funds, along with their member stocks, may be active as the results are released. Uploaded with ImageShack.usAt 6am, the Monster Employment Index for August will be reported. There isn't a consensus forecast for the number, which tracks online help-wanted ads and is followed as a leading indicator of employment. The previous reading for July was 138, down moderately from June. A number above 138 would be bullish, while a further decline would be bearish. Jobless Claims will be reported at 8:30am. Consensus calls for a small rise to 475,000 up from 473,000 in the prior week. The range is narrow, with a more bullish 460,000 at the low, to a bearish 485,000 at the high. A number that breaks either end of the range will therefore have greater impact. Continuing claims are expected to drop slightly to 4.44 million, down from the previous week's 4.456 million. A number smaller than 4.44 million would be bullish and a reading above the prior week would be bearish. Productivity and Costs also come out a 8:30am, although it is likely to be overshadowed by Jobless Claims. Labor costs are expected to rise by 1.2 percent, which would be moderately inflationary. At this stage, that would be a bullish outcome given concerns about deflation. Productivity is expected to drop by 1.9 percent. While that number may appear bearish, it could actually be bullish at this stage because it would indicate new workers are finding employment. Productivity has increased in recent years because the existing labor force has been squeezed to do more. Federal Reserve Chairman Ben Bernanke will speak shortly before markets open at 9am, testifying before the Financial Crisis Inquiry Commission. It isn't expected that anything market moving will come from this testimony, but there could be some tense questioning. FDIC Chair Sheila Bair will also appear. Factory Orders will be released at 10 a.m. eastern, and most economists expect a 0.3 percent increase. The range is quite wide, making a surprise less likely. A drop of 1.2 percent is forecast at the bearish end of the spectrum, while the bulls are looking for increase of 2.5 percent. A gain would build on positive momentum from yesterday's ISM Manufacturing Index. The Industrial SPDR, along with its constituents, will react most strongly to the news. The Pending Homes Sales Index will also be released at 10am, but is likely to take a back seat to Factory Orders -- unless there is a big surprise in the number. Consensus calls for a drop of 1 percent, with the range varying from a 5 percent decrease to a 4 percent gain at the high. The SPDR S&P Homebuilders fund, along with its member stocks may be active. Banks with large mortgage exposure such as Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, could also move on this report. (Chart courtesy of tradeMONSTER) By: Bryan McCormick
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Post by abdogman on Sept 2, 2010 7:10:00 GMT -5
Bros and Ask Thx for the info and nmbrs.....................
Good Morning Gang!!!!!!Good Luck!
back for the open ..!
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Post by abdogman on Sept 2, 2010 7:34:32 GMT -5
0830 briefing .com
Initial Claims 472K vs 475K Briefing.com consensus, prior revised to 478K from 473K
Continuing Claims falls to 4.456 mln from 4.479 ml
Nonfarm Productivity-final revised to -1.8% vs -1.7% Briefing.com consensus; Q2 prelim -0.9%
Q2 Unit Labor Cost- final revised to +1.1% vs +1.1% Briefing.com consensus, prelim +0.2%
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Post by deadmoney95 on Sept 2, 2010 8:30:38 GMT -5
Morning everyone, and thanks.
Guesstimates on September 2, 2010 from Carl Futia by Carl Futia
September S&P E-mini Futures: Today's range estimate is 1075-1093. The ES is headed for 1140 and higher
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Post by abdogman on Sept 2, 2010 8:34:05 GMT -5
xlf 14.065 on 1m and above PP
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Post by abdogman on Sept 2, 2010 8:38:13 GMT -5
xlf 14.09 on 1m 1m macd pos for xlf fas tna
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Post by kryptos2009 on Sept 2, 2010 8:40:02 GMT -5
Here is the PP Daily Thread (PPDT) data. XLF PP=13.97 MP=14.09 R1=14.21 MP=14.28 R2=14.35 MP=14.54 R3=14.73 MP=14.92 R4=15.11 MP=13.90 S1=13.83 MP=13.71 S2=13.59 MP=13.40 S3=13.21 MP=13.02 S4=12.83 O=13.73 H=14.1 L=13.72 C=14.08 FAS PP=19.43 MP=19.88 R1=20.33 MP=20.57 R2=20.81 MP=21.50 R3=22.19 MP=22.88 R4=23.57 MP=19.19 S1=18.95 MP=18.50 S2=18.05 MP=17.36 S3=16.67 MP=15.98 S4=15.29 O=18.54 H=19.9 L=18.52 C=19.86 FAZ PP=15.32 MP=15.53 R1=15.74 MP=16.17 R2=16.59 MP=17.22 R3=17.86 MP=18.49 R4=19.13 MP=14.90 S1=14.47 MP=14.26 S2=14.05 MP=13.41 S3=12.78 MP=12.14 S4=11.51 O=16.12 H=16.16 L=14.89 C=14.9 SPY PP=107.91 MP=108.54 R1=109.16 MP=109.51 R2=109.86 MP=110.84 R3=111.81 MP=112.79 R4=113.76 MP=107.56 S1=107.21 MP=106.59 S2=105.96 MP=104.99 S3=104.01 MP=103.04 S4=102.06 O=106.73 H=108.61 L=106.66 C=108.46 SPG PP=92.99 MP=93.68 R1=94.36 MP=94.77 R2=95.17 MP=96.26 R3=97.35 MP=98.44 R4=99.53 MP=92.59 S1=92.18 MP=91.50 S2=90.81 MP=89.72 S3=88.63 MP=87.54 S4=86.45 O=92.07 H=93.79 L=91.61 C=93.56 GS PP=139.29 MP=140.04 R1=140.79 MP=141.31 R2=141.83 MP=143.10 R3=144.37 MP=145.64 R4=146.91 MP=138.77 S1=138.25 MP=137.50 S2=136.75 MP=135.48 S3=134.21 MP=132.94 S4=131.67 O=139.01 H=140.34 L=137.8 C=139.74 JPM PP=37.40 MP=37.77 R1=38.14 MP=38.34 R2=38.54 MP=39.11 R3=39.68 MP=40.25 R4=40.82 MP=37.20 S1=37.00 MP=36.63 S2=36.26 MP=35.69 S3=35.12 MP=34.55 S4=33.98 O=36.74 H=37.8 L=36.66 C=37.74 MS PP=25.22 MP=25.42 R1=25.62 MP=25.73 R2=25.84 MP=26.15 R3=26.46 MP=26.77 R4=27.08 MP=25.11 S1=25.00 MP=24.80 S2=24.60 MP=24.29 S3=23.98 MP=23.67 S4=23.36 O=25.05 H=25.43 L=24.81 C=25.41 C PP=3.81 MP=3.85 R1=3.89 MP=3.91 R2=3.92 MP=3.98 R3=4.03 MP=4.09 R4=4.14 MP=3.80 S1=3.78 MP=3.74 S2=3.70 MP=3.65 S3=3.59 MP=3.54 S4=3.48 O=3.75 H=3.85 L=3.74 C=3.85 VIX PP=24.29 MP=24.51 R1=24.73 MP=25.15 R2=25.56 MP=26.20 R3=26.83 MP=27.47 R4=28.10 MP=23.88 S1=23.46 MP=23.24 S2=23.02 MP=22.39 S3=21.75 MP=21.12 S4=20.48 O=25.13 H=25.13 L=23.86 C=23.89 UUP PP=23.92 MP=23.94 R1=23.96 MP=23.98 R2=23.99 MP=24.03 R3=24.06 MP=24.10 R4=24.13 MP=23.91 S1=23.89 MP=23.87 S2=23.85 MP=23.82 S3=23.78 MP=23.75 S4=23.71 O=23.9 H=23.95 L=23.88 C=23.93 FROM: www.econoday.comEconomic Events & Analysis - 9/02/2010 Thursday10:00 AM ET Factory Orders 10:00 AM ET Pending Home Sales Index 10:30 AM ET EIA Natural Gas 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.
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Post by ccash04 on Sept 2, 2010 8:42:27 GMT -5
Bonds following through on move yesterday, watch 105 on TLT as S. If that breaks then its a little S at 104 then gap fill at 102.
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Post by abdogman on Sept 2, 2010 8:43:03 GMT -5
macd now neg on 1m for xlf fas tna xlf 14.065 on 1m
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Post by abdogman on Sept 2, 2010 8:44:44 GMT -5
Thx for nmbrs Kryptos!!!!!!!
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Post by maxi on Sept 2, 2010 8:48:01 GMT -5
NACF: China Cutting Emissions to Boost Solar Stocks Last update: 9/2/2010 9:15:00 AM Top Shanghai Fund Manager Bullish on Solar, Bloomberg Reports HOUSTON, Sep 02, 2010 (BUSINESS WIRE) -- National Clean Fuels, Inc. (PinkSheets:NACF) cheered a report this week from a top investor that China will likely introduce more measures in the coming year to support the development of cleaner energy, boosting shares of solar companies. Bloomberg News reported that Shi Bo, the general manager of Shanghai Elegant Investment Co., recommends that investors favor shares of Chinese solar companies as that government promotes cleaner sources of energy. According to Bloomberg, Shi oversees about $400 million dollars and his fund outperformed 98 percent of China-domiciled funds in the past year. "China's shift away from energy-intensive and polluting industries to a low-carbon economy is one of the key investment opportunities in the next three years," Shi said. "You have to invest in sectors that the government is advocating." China, the world's biggest polluter, could spend up to 5 trillion yuan over the next decade developing cleaner alternatives to energy derived from fossil fuels, said Jiang Bing, head of the National Energy Administration's planning and development department, in July. China is already the global leader in solar technology manufacturing. National Clean Fuels is poised to capitalize on the explosive growth of solar technology in China. The company is dedicated to implementing profitable development partnerships that advance clean-fuel technologies around the globe. The Chinese solar economy includes companies such as Trina Solar (TSL), Suntech Power (STP), Yingli Green Energy (YGE) and LDK Solar (LDK). For more information, please visit . About National Clean Fuels, Inc. National Clean Fuels, Inc. (NACF) commercializes cutting-edge clean energy technologies. National Clean Fuels, Inc. is an emerging industry player capitalizing on its understanding of clean energy technology and supporting the development of alternative energy plans for corporations and government entities. For more information, visit Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. SOURCE: National Clean Fuels, Inc.
National Clean Fuels, Inc. Maurice Stone, 832-308-1260 President inforequest@natcleanfuels.com
Copyright Business Wire 2010
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Post by ccash04 on Sept 2, 2010 8:49:21 GMT -5
TLT bounced off S, sitting at 105.05... So close.
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Post by ccash04 on Sept 2, 2010 8:50:20 GMT -5
Its at S again, and now looks like it made a move thru it on some volume.
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Post by ccash04 on Sept 2, 2010 8:51:37 GMT -5
I think its safe to start a position right now in TBT if you want leverage. With a stop at 31.76, looking for 33 before a pullback.
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Post by abdogman on Sept 2, 2010 8:52:59 GMT -5
xlf 14.105 on 1m macd pos last 2 min on 1m BB's spreading on xlf fas faz tna tza
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Post by jack on Sept 2, 2010 8:54:12 GMT -5
Just in - did we have a good report on somethin'?
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Post by ccash04 on Sept 2, 2010 8:55:29 GMT -5
In TBT 33 calls at .56
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Post by ccash04 on Sept 2, 2010 8:56:22 GMT -5
Don't think so Jack I think bonds/currencies are leading this move.
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Post by cosmic on Sept 2, 2010 8:56:25 GMT -5
I guess 'today', any news is good news so we buy. Tomorrow, who knows.
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Post by abdogman on Sept 2, 2010 9:00:57 GMT -5
1000edt
July Pending Home Sales m/m +5.2% vs 0.0% Briefing.com consensus
July Factory Orders +0.1% vs +0.3% Briefing.com consensus, prior revised to-0.6% from -1.2%
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Post by jack on Sept 2, 2010 9:01:16 GMT -5
Don't think so Jack I think bonds/currencies are leading this move. Jobless nos not as bad as anticipated apparently Homesales rose just reported DANG
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Post by abdogman on Sept 2, 2010 9:02:20 GMT -5
xlf 14.135 on 1m
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Post by jack on Sept 2, 2010 9:06:14 GMT -5
Burger King sold for $4B
UUP up
FAS t/t, GS suspect
VIX rising
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Post by jack on Sept 2, 2010 9:07:55 GMT -5
UUP bot trading manifesting - look at the 10min
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Post by abdogman on Sept 2, 2010 9:09:13 GMT -5
BB's narrowing now on 1m for xlf fas faz tna tza xlf 14.12 on 1m and macd 0/0
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Post by jack on Sept 2, 2010 9:09:28 GMT -5
XLF's 1min BBs tightening
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Post by ccash04 on Sept 2, 2010 9:09:40 GMT -5
They released the squid on my precious MU
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