PPDT - 09/29/2011 Thursday - PP-XLF = 12.05

[ask2lern]

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


GOLD


R3 1742.80
R2 1682.50
R1 1646.60

PP 1622.20

S1 1586.30
S2 1561.90
S3 1501.60


SILVER

R3 35.56
R2 33.00
R1 31.51

PP 30.44

S1 28.95
S2 27.88
S3 25.32


IWM

R3 72.18
R2 69.16
R1 67.18

PP 66.14

S1 64.16
S2 63.12
S3 60.10




TNA

R3 46.58
R2 41.43
R1 38.11

PP 36.28

S1 32.96
S2 31.13
S3 25.98



TZA

R3 61.53
R2 55.46
R1 53.44

PP 49.39

S1 47.37
S2 43.32
S3 37.25


SDS

R3 27.09
R2 25.67
R1 25.17

PP 24.25

S1 23.75
S2 22.83
S3 21.41


SSO

R3 44.96
R2 42.51
R1 40.90

PP 40.06

S1 38.45
S2 37.61
S3 35.16

…………………………..GLTA

[ask2lern]

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

Russell 2000 levels at key juncture

The indexes had another wide-ranging session yesterday, starting out pinned to the upside but reversing lower and finishing near the lows of the day. The range was particularly was notable when measured from the highs to the lows of the day.

In terms of overall technicals, the one index feeling the most pain was and is the Russell 2000, which is only about 20 points away from violating its lows for the year. If that happens and it breaks the lower bounds of its trading range, even more selling could be unleashed.

The S&P 500, by contrast, is nearly dead-center of a range that has been in place for two months. It would take a breakout above 1220 or a failure below 1100 for that range to be snapped.

The Nasdaq 100 remains the relative outperformer of the three indexes, with little technical change on the day.

Levels did not move all that much, except for those of the Russell 2000. The S&P 500 levels are unchanged, and there are only minor adjustments to the Nasdaq 100.

First support for the Nasdaq 100 is at 2212.84, then at 2151.18, and 2139.58. First resistance is at 2225.40 and then at 2231.03, its 50-day moving average. On a breakout above that moving average, the next resistance is at 2258.76, its 10-day moving average, and then at 2292.15, the 200-day moving average.

In the case of the S&P 500, support is at 1150.70, then at 1131, and 1114.52. Resistance is at 1179.11, its 10-day moving average. On a break above that moving average, resistance is at 1207.58, its downtrending 50-day moving average.

The Russell 2000 has support at 634.71 and at 624.52, which would be a fresh 52-week low. Next support thereafter would be at 611.66.

Resistance is at 661.94 and then at 677.83, its 10-day moving average. On a break above the 10-day, resistance would be at at 701.55. The Russell tends to exhibit greater volatility, so we need to give it more latitude.

[ask2lern]

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

GDP, labor, housing data on calendar

Today's economic calendar is relatively light, with revised GDP numbers, unemployment claims, and home sales.

At 8:30 a.m. ET, the final GDP revision for the second quarter will be reported. The consensus forecast calls for the GDP to ratchet up to 1.2 percent from the last revision of 1 percent. The range is from a bearish 0.9 percent to a bullish 1.4 percent.

Jobless Claims will also be released at 8:30 a.m. ET. Claims are forecast to come in at 420,000, a very small change from last week's 423,000. The range of estimates is also small, which leaves the door open to a surprise in either direction.

Expectations range from a bullish 410,000 claims to a bearish 430,000. A number that exceeds either end of that spectrum will likely produce a strong market response.

Pending Home Sales Index data comes out at 10 a.m. ET. The consensus estimate calls for a drop of -1.8 percent from last month's reading. The range is from a very bearish -5 percent to a bullish 1 percent.

Tomorrow's calendar will be busier, while next week is all about jobs numbers. That employment data will help set the tone heading into earning season the following week.

[ask2lern]

@hedgeye
Hedgeye As we look at today’s set up for the S&P 500, the range is 58 points or -3.31% downside to 1113 and 1.73% upside to 1171. $SPY
30 minutes ago via TweetDeck
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[kryptos2009]

Good Morning Gang!!

Here is the PP Daily Thread (PPDT) data.

XLF PP=12.05
MP=12.13 R1=12.21 MP=12.36 R2=12.51 MP=12.74 R3=12.97 MP=13.20 R4=13.43
MP=11.90 S1=11.75 MP=11.67 S2=11.59 MP=11.36 S3=11.13 MP=10.90 S4=10.67
O=12.28 H=12.35 L=11.89 C=11.91

FAS PP=11.32
MP=11.54 R1=11.76 MP=12.18 R2=12.59 MP=13.22 R3=13.86 MP=14.49 R4=15.13
MP=10.91 S1=10.49 MP=10.27 S2=10.05 MP=9.41 S3=8.78 MP=8.14 S4=7.51
O=11.99 H=12.14 L=10.87 C=10.94

FAZ PP=63.31
MP=65.42 R1=67.52 MP=68.61 R2=69.69 MP=72.88 R3=76.07 MP=79.26 R4=82.45
MP=62.23 S1=61.14 MP=59.04 S2=56.93 MP=53.74 S3=50.55 MP=47.36 S4=44.17
O=59.89 H=65.48 L=59.1 C=65.35

SPY PP=116.20
MP=116.82 R1=117.43 MP=118.58 R2=119.72 MP=121.48 R3=123.24 MP=125.00 R4=126.76
MP=115.06 S1=113.91 MP=113.30 S2=112.68 MP=110.92 S3=109.16 MP=107.40 S4=105.64
O=117.78 H=118.49 L=114.97 C=115.14

SPG PP=112.31
MP=112.93 R1=113.55 MP=114.69 R2=115.83 MP=117.59 R3=119.35 MP=121.11 R4=122.87
MP=111.17 S1=110.03 MP=109.41 S2=108.79 MP=107.03 S3=105.27 MP=103.51 S4=101.75
O=113.86 H=114.59 L=111.07 C=111.27

GS PP=97.78
MP=98.57 R1=99.35 MP=100.87 R2=102.38 MP=104.68 R3=106.98 MP=109.28 R4=111.58
MP=96.27 S1=94.75 MP=93.97 S2=93.18 MP=90.88 S3=88.58 MP=86.28 S4=83.98
O=99.98 H=100.81 L=96.21 C=96.32

JPM PP=30.96
MP=31.24 R1=31.51 MP=32.03 R2=32.54 MP=33.33 R3=34.12 MP=34.91 R4=35.70
MP=30.45 S1=29.93 MP=29.66 S2=29.38 MP=28.59 S3=27.80 MP=27.01 S4=26.22
O=31.62 H=32 L=30.42 C=30.47

MS PP=14.45
MP=14.61 R1=14.77 MP=15.07 R2=15.37 MP=15.83 R3=16.29 MP=16.75 R4=17.21
MP=14.15 S1=13.85 MP=13.69 S2=13.53 MP=13.07 S3=12.61 MP=12.15 S4=11.69
O=14.98 H=15.06 L=14.14 C=14.16

C PP=26.32
MP=26.53 R1=26.74 MP=27.15 R2=27.56 MP=28.18 R3=28.80 MP=29.42 R4=30.04
MP=25.91 S1=25.50 MP=25.29 S2=25.08 MP=24.46 S3=23.84 MP=23.22 S4=22.60
O=26.95 H=27.14 L=25.9 C=25.92

VIX PP=39.66
MP=41.16 R1=42.66 MP=43.46 R2=44.25 MP=46.54 R3=48.84 MP=51.13 R4=53.43
MP=38.87 S1=38.07 MP=36.57 S2=35.07 MP=32.77 S3=30.48 MP=28.18 S4=25.89
O=37.7 H=41.24 L=36.65 C=41.08

UUP PP=22.08
MP=22.14 R1=22.19 MP=22.23 R2=22.26 MP=22.35 R3=22.44 MP=22.53 R4=22.62
MP=22.05 S1=22.01 MP=21.96 S2=21.90 MP=21.81 S3=21.72 MP=21.63 S4=21.54
O=22.02 H=22.14 L=21.96 C=22.13

FROM: www.econoday.com

Economic Events & Analysis - 09/29/2011 Thursday


8:30 AM ET GDP
8:30 AM ET Jobless Claims
8:30 AM ET Eric Rosengren Speaks
8:30 AM ET Charles Plosser Speaks
8:30 AM ET Corporate Profits
9:45 AM ET Bloomberg Consumer Comfort Index
10:00 AM ET Pending Home Sales Index
10:30 AM ET EIA Natural Gas Report
11:00 AM ET Kansas City Fed Manufacturing Index
11:00 AM ET 3-Month Bill Announcement
11:00 AM ET 6-Month Bill Announcement
1:00 PM ET 7-Yr Note Auction
3:00 PM ET Farm Prices
4:30 PM ET Fed Balance Sheet
4:30 PM ET Money Supply


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.

[Rich]

Bloomberg talking about Solyndra

[Rich]

what a pleasant way to wake up.

jobs, slightly better than expected, revised gdp 1.3%

Europe coming together to slay the debt problem.

okay, it's all good

[rex]

No need for QE3 now!!! World is fixed again.

[Rich]

now Bloomberg is going to talk about the Redsox collapse.

There is no escape.

[Rich]

I'm going back to sleep

[Clinton SPX]

they are going to short this pop

[Rich]

double dip talk all around

yes, I agree Clinton

[rex]

Officials are reporting the claims numbers may have beed scewed by technical problems!!! I wonder if revised GDP was too!

[Clinton SPX]

wheres the big euro rally after all the good news?

Shanghai very red today too.

Attachments:

[Clinton SPX]

So who wants to go long/bullish after this gap up? so they can get dumped out by the end of the day. Retails got to be getting sick of this game

[Clinton SPX]

I dont see commods rallying for long if the euro doesnt catch a bid IMO

[Clinton SPX]

I still have all my oil dogs so I wont mind seeing them go up.

[Clinton SPX]

Initial Claims Beats By Multiple Standard Deviations As BLS Revisions Jump Again
Submitted by Tyler Durden on 09/29/2011 - 08:44
BLS Bureau of Labor Statistics headlines Initial Jobless Claims
We grow weary of reporting the consistent statistical anomaly that is the prior revision UP in the initial jobless claims. Headlines will read of the impressive job 'improving' situation as initial claims fell 37k on the week (a two standard deviation improvement which seems extremely unlikely given the macro/micro backdrop). Once again proving their ineptitude, the claims print was massively better than even the most optimistic economist estimate - an incredible six standard deviations better than consensus. This is the lowest initial claims print since April 1st (ironic really) and below 400k for only the second time in 25 weeks - though for a moment we must have some hope that this is a trend as ES pops 10pts.

UPDATE: Via Bloomberg (we couldn't resist) from TD Securities' Eric Green: "If its too good to believe, it probably is, and the BLS says as much"

[Clinton SPX]

The German lower house passed the EFSF amendment bill with a leading conservative lawmaker noting that the coalition did not need to rely on opposition votes.
Fed’s Bernanke said the central bank might need to ease monetary policy further if inflation or inflation expectations fall significantly.
German BDB confirms that the 90% target rate for private sector involvement in the second Greek bailout has been met adding that the ECB is well prepared to assist EU banks.
Greek PM will travel to Paris on Friday to discuss debt crisis with French president Sarkozy according to a source.
Banks and other private sector bondholders are resisting the idea of taking larger haircuts on Greek debt by lobbying countries such as Germany and the Netherlands.

[mihai]

If SNP holds strong above 1165, I might sell TZA and buy back ~1180-1200.

Going by this line on Hamm's chart,
www.youtube.com/watch?v=532lwiz5CZg#t=9m14s

[Clinton SPX]

Looks like spy going to gap into the 50ma 10

[crumbdon]

Sept 29, 2011 7:59:22 GMT -5 Clinton SPX said:

they are going to short this pop

Good possibility, but remember this market favors volatility rather than one team. Very real possibility it gets run hard all day just to clean out all the shorts that piled on at EOD yesterday.

I wouldn't be a bit surprised if Oct sees 1200+ to start, followed by under 1100 very soon thereafter.

GL today

[Clinton SPX]

Im gonna just hold my shorts, euro looks like it wants to dump

[Clinton SPX]

I said last week I thought China inflation/slow down was a bigger deal than greece and I sill believe that. Shanghai had a bad night

[cosmic]

Indices moving up, but selling started at the bell.

[cosmic]

FAS moving down rapidly against a 188+ Dow

[cosmic]

Dow heading for 200+, FAS continues going down.
Market doesn't rally without Fins.

[Clinton SPX]

This is a get out of jail free card for bulls

[Rich]

johnny nash "I can see clearly now" tv ad for us bank

I had that 45 once upon a time

but I never tied it to banks

[mihai]

RUT is also being held down