PPDT - 09/21/2011 Wednesday - PP-XLF = 12.59

[ask2lern]

Good Morning Gang
Here are the pivots……….…hope everyone has a great day ……GLTA


GOLD


R3 1873.07
R2 1835.27
R1 1820.03

PP 1797.47

S1 1782.23
S2 1759.67
S3 1721.87


SILVER

R3 42.41
R2 41.10
R1 40.47

PP 39.79

S1 39.16
S2 38.48
S3 37.17


IWM

R3 74.21
R2 72.03
R1 70.59

PP 69.85

S1 68.41
S2 67.67
S3 65.49




TNA

R3 50.86
R2 46.82
R1 44.16

PP 42.78

S1 40.12
S2 38.74
S3 34.70



TZA

R3 51.45
R2 47.50
R1 46.18

PP 43.55

S1 42.23
S2 39.60
S3 35.65


SDS

R3 24.17
R2 23.41
R1 23.13

PP 22.65

S1 22.37
S2 21.89
S3 21.13


SSO

R3 46.32
R2 44.90
R1 44.00

PP 43.48

S1 42.58
S2 42.06
S3 40.64

…………………………..GLTA

[ask2lern]

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

Index levels depend on Europe, Fed

The Russell 2000 was the worst relative performer yesterday, breaking below its 10-day moving average. which had been support. The Nasdaq 100 and the S&P 500 have seenfar more modest declines, with levels largely unchanged as a result.

Levels could easily be exceeded on the downside or upside depending on how the Federal Reserve moves tomorrow. This means that traders should be prepared for additional volatility and larger price swings than average. Both resistance or support levels could be broken.

In the case of the S&P 500, support is at 1192.89, then its 10-day moving at 1189.39 and 162.52. Resistance is at 1220.10.

The Russell 2000 has support at 681.43, then at 664.93. Resistance is at 697.40, its 10-day moving average, then at 718.59 and 724.71.

Nasdaq 100 (NDX)
First support is at 2284.66. First resistance is at 2318.20

For the PowerShares QQQ (QQQ) first support is at $56.08. First resistance is at $56.87.

[ask2lern]

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

Fed dominates word from calendar

The economic calendar is light today but includes the much-anticipated Federal Reserve announcement on "quantitative easing 3" at 2:15 p.m. ET.

At 7 a.m. ET we will get the weekly MBA Purchase Applications data. Economists do not make estimates for this report, and I look only at the purchases data of the report because it indicates new economic activity, as opposed to refinancing.

Last week purchases came in at 170.8. If purchases this week come in higher than that number by 5 percent or more, it would be bullish. If they are lower by the same margin, it would be bearish.

Existing Home Sales will be released at 10 a.m. ET. Expectations are for sales of 4.71 million units. Estimates range from a bearish 4.5 million units to a bullish 4.97 million units.

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 -0.7 million barrels. But the API release, which came out last night after the market closed, showed a build of 2.574 million barrels instead.

If the EIA data confirms this build number or shows an even larger one, it could be bearish for crude. If instead the build number is smaller than the API's 2.574 million barrels, or is a negative number indicating a draw, it could be bullish 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.

[ask2lern]

My expectaitions for the Fed is they will do "operation twist" but thats it.....................now if history is a guide and as Ukarl always said on FOMC days that the intial reaction is usually the wrong one.............stay nimble be quick and keep size small is my plan...............GLTA

[kryptos2009]

Good Morning Gang!!

Here is the PP Daily Thread (PPDT) data.

XLF PP=12.59
MP=12.63 R1=12.66 MP=12.73 R2=12.80 MP=12.91 R3=13.01 MP=13.12 R4=13.22
MP=12.52 S1=12.45 MP=12.42 S2=12.38 MP=12.28 S3=12.17 MP=12.07 S4=11.96
O=12.62 H=12.73 L=12.52 C=12.52

FAS PP=13.21
MP=13.32 R1=13.43 MP=13.63 R2=13.83 MP=14.14 R3=14.45 MP=14.76 R4=15.07
MP=13.01 S1=12.81 MP=12.70 S2=12.59 MP=12.28 S3=11.97 MP=11.66 S4=11.35
O=13.24 H=13.62 L=13 C=13.02

FAZ PP=56.65
MP=57.54 R1=58.43 MP=58.88 R2=59.32 MP=60.66 R3=61.99 MP=63.33 R4=64.66
MP=56.21 S1=55.76 MP=54.87 S2=53.98 MP=52.65 S3=51.31 MP=49.98 S4=48.64
O=56.55 H=57.55 L=54.88 C=57.53

SPY PP=120.72
MP=121.08 R1=121.44 MP=122.07 R2=122.70 MP=123.69 R3=124.68 MP=125.67 R4=126.66
MP=120.09 S1=119.46 MP=119.10 S2=118.74 MP=117.75 S3=116.76 MP=115.77 S4=114.78
O=120.82 H=121.99 L=120.01 C=120.17

SPG PP=119.72
MP=120.38 R1=121.04 MP=121.77 R2=122.49 MP=123.88 R3=125.26 MP=126.65 R4=128.03
MP=119.00 S1=118.27 MP=117.61 S2=116.95 MP=115.57 S3=114.18 MP=112.80 S4=111.41
O=119.41 H=121.18 L=118.41 C=119.58

GS PP=103.47
MP=103.94 R1=104.41 MP=105.31 R2=106.21 MP=107.58 R3=108.95 MP=110.32 R4=111.69
MP=102.57 S1=101.67 MP=101.20 S2=100.73 MP=99.36 S3=97.99 MP=96.62 S4=95.25
O=105 H=105.27 L=102.53 C=102.61

JPM PP=32.43
MP=32.53 R1=32.62 MP=32.81 R2=32.99 MP=33.27 R3=33.55 MP=33.83 R4=34.11
MP=32.25 S1=32.06 MP=31.97 S2=31.87 MP=31.59 S3=31.31 MP=31.03 S4=30.75
O=32.77 H=32.8 L=32.24 C=32.25

MS PP=15.23
MP=15.31 R1=15.39 MP=15.53 R2=15.67 MP=15.89 R3=16.11 MP=16.33 R4=16.55
MP=15.09 S1=14.95 MP=14.87 S2=14.79 MP=14.57 S3=14.35 MP=14.13 S4=13.91
O=15.29 H=15.5 L=15.06 C=15.12

C PP=27.25
MP=27.43 R1=27.61 MP=27.95 R2=28.28 MP=28.80 R3=29.31 MP=29.83 R4=30.34
MP=26.92 S1=26.58 MP=26.40 S2=26.22 MP=25.71 S3=25.19 MP=24.68 S4=24.16
O=27.8 H=27.93 L=26.9 C=26.93

VIX PP=32.48
MP=33.00 R1=33.52 MP=33.85 R2=34.17 MP=35.02 R3=35.86 MP=36.71 R4=37.55
MP=32.16 S1=31.83 MP=31.31 S2=30.79 MP=29.95 S3=29.10 MP=28.26 S4=27.41
O=32.42 H=33.14 L=31.45 C=32.86

UUP PP=21.85
MP=21.88 R1=21.91 MP=21.93 R2=21.95 MP=22.00 R3=22.05 MP=22.10 R4=22.15
MP=21.83 S1=21.81 MP=21.78 S2=21.75 MP=21.70 S3=21.65 MP=21.60 S4=21.55
O=21.87 H=21.9 L=21.8 C=21.86

FROM: www.econoday.com

Economic Events & Analysis - 09/21/2011 Wednesday


7:00 AM ET MBA Purchase Applications
10:00 AM ET Existing Home Sales
10:30 AM ET EIA Petroleum Status Report
2:15 PM ET FOMC Meeting Announcement


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.

[ask2lern]

grassosteve Steve Grasso
$SPX support 1195 1192 1185 1172 (speed bump at 1178) resistance 1198 1204 1208
10 minutes ago Favorite Retweet Reply

[rex]

That sounds bearish! Bet we go up into Ben!

[rex]

Transports getting crushed thismorning!

[Clinton SPX]

transports not looking good out of the gte
and everyone piling in tech again

[Clinton SPX]

this looks like a spirit of bear flag forming on 10m spy

[rex]

Transports down over 2% in the first 13 mins....wow.

[Clinton SPX]

but gld is down. hmmmmmmmm

[Clinton SPX]

next 10 min is important. If SPY confirms below the 200 10m will likely set the tone for next hour or two. We shall see

[Clinton SPX]

dollar and vix melting up
can everyone hide in AMZN today?

[Clinton SPX]

ok theres the bearish confirm, lets see if it works

[Clinton SPX]

need to run errand. covered some of my small cap short here

[timber]

the white house didn't refute the claim that they have given up on legislature that's why we came down

[rex]

Was that a prelude to the jobs bill not passing and/or the lack of expected stimulus to come out today?

[ask2lern]

Spy #'s I have 119.48 119.85 120.48..............I work with a 5min chart and look for a break above or below these numbers on volume.........when it does I expect it to move to the target so if it gets above 119.85 I look for it to run toward the next level 120.48...................I have other metrics to enter or exit trades but this is something I pay close attention to....................I mainly scalp SPY options ..........................GLTA

[ask2lern]

Looks like somone put on a Strangle Straddel on the SPY weeklies at 120..........................

[timber]

Sept 21, 2011 10:21:32 GMT -5 rex said:

Was that a prelude to the jobs bill not passing and/or the lack of expected stimulus to come out today?

i dont know rex but once the news flashed across the screen the markets went south....im putting together my fuel filter while i watch cnbc ;D

[ask2lern]

Bamatrader is pretty good.........................

BamaTrader BamaTrader
Targets for this afternoon: 1180.50, 1177.25, 1166.00 - - and the big kahuna 1157.50 $$
13 minutes ago Favorite Retweet Reply

[Clinton SPX]

stoch is resetting w/o price
get ready for next leg down IMO

[herceg1967]

Sept 21, 2011 12:32:29 GMT -5 ask2lern said:

Bamatrader is pretty good.........................

BamaTrader BamaTrader
Targets for this afternoon: 1180.50, 1177.25, 1166.00 - - and the big kahuna 1157.50 $$
13 minutes ago Favorite Retweet Reply

hmmmmmm It just seems so obvious that the street will not like what is about to come out of the Fed this afternoon............that is what has me puzzled..........it seems a little too easy and telegraphed way in advance........

JMO and BOL.............

[ask2lern]

They just blew the spreads out on the SPY weeklies both sides................

[Clinton SPX]

spirit of bear flag
I think we drop more lots more