PPDT - 10/19/2011 Wednesday - PP-XLF = 12.65

[kryptos2009]

Good Morning Gang!!

Here is the PP Daily Thread (PPDT) data.

XLF PP=12.65
MP=12.87 R1=13.09 MP=13.24 R2=13.38 MP=13.75 R3=14.11 MP=14.48 R4=14.84
MP=12.51 S1=12.36 MP=12.14 S2=11.92 MP=11.56 S3=11.19 MP=10.83 S4=10.46
O=12.31 H=12.95 L=12.22 C=12.79

FAS PP=12.44
MP=13.00 R1=13.56 MP=13.92 R2=14.28 MP=15.20 R3=16.12 MP=17.04 R4=17.96
MP=12.08 S1=11.72 MP=11.16 S2=10.60 MP=9.68 S3=8.76 MP=7.84 S4=6.92
O=11.52 H=13.17 L=11.33 C=12.83

FAZ PP=50.75
MP=52.55 R1=54.35 MP=57.12 R2=59.89 MP=64.46 R3=69.03 MP=73.60 R4=78.17
MP=47.98 S1=45.21 MP=43.41 S2=41.61 MP=37.04 S3=32.47 MP=27.90 S4=23.33
O=55.39 H=56.3 L=47.16 C=48.8

SPY PP=121.76
MP=123.04 R1=124.32 MP=125.19 R2=126.06 MP=128.21 R3=130.36 MP=132.51 R4=134.66
MP=120.89 S1=120.02 MP=118.74 S2=117.46 MP=115.31 S3=113.16 MP=111.01 S4=108.86
O=120.14 H=123.5 L=119.2 C=122.58

SPG PP=115.94
MP=117.43 R1=118.92 MP=119.77 R2=120.62 MP=122.96 R3=125.30 MP=127.64 R4=129.98
MP=115.09 S1=114.24 MP=112.75 S2=111.26 MP=108.92 S3=106.58 MP=104.24 S4=101.90
O=113.34 H=117.65 L=112.97 C=117.21

GS PP=100.85
MP=103.00 R1=105.14 MP=106.59 R2=108.04 MP=111.63 R3=115.23 MP=118.82 R4=122.42
MP=99.40 S1=97.95 MP=95.81 S2=93.66 MP=90.06 S3=86.47 MP=82.87 S4=79.28
O=98.19 H=103.74 L=96.55 C=102.25

JPM PP=32.48
MP=33.15 R1=33.81 MP=34.29 R2=34.76 MP=35.90 R3=37.04 MP=38.18 R4=39.32
MP=32.01 S1=31.53 MP=30.87 S2=30.20 MP=29.06 S3=27.92 MP=26.78 S4=25.64
O=31.36 H=33.42 L=31.14 C=32.87

MS PP=16.34
MP=16.79 R1=17.23 MP=17.53 R2=17.83 MP=18.58 R3=19.32 MP=20.07 R4=20.81
MP=16.04 S1=15.74 MP=15.30 S2=14.85 MP=14.11 S3=13.36 MP=12.62 S4=11.87
O=15.55 H=16.94 L=15.45 C=16.63

C PP=29.47
MP=30.21 R1=30.94 MP=31.47 R2=31.99 MP=33.25 R3=34.51 MP=35.77 R4=37.03
MP=28.95 S1=28.42 MP=27.69 S2=26.95 MP=25.69 S3=24.43 MP=23.17 S4=21.91
O=28.39 H=30.53 L=28.01 C=29.88

VIX PP=31.99
MP=33.14 R1=34.28 MP=35.65 R2=37.01 MP=39.52 R3=42.03 MP=44.54 R4=47.05
MP=30.63 S1=29.26 MP=28.12 S2=26.97 MP=24.46 S3=21.95 MP=19.44 S4=16.93
O=33.37 H=34.71 L=29.69 C=31.56

UUP PP=21.78
MP=21.84 R1=21.89 MP=21.95 R2=22.01 MP=22.13 R3=22.24 MP=22.36 R4=22.47
MP=21.72 S1=21.66 MP=21.61 S2=21.55 MP=21.44 S3=21.32 MP=21.21 S4=21.09
O=21.84 H=21.91 L=21.68 C=21.76

FROM: www.econoday.com

Economic Events & Analysis - 10/19/2011 Wednesday


7:00 AM ET MBA Purchase Applications
8:30 AM ET Consumer Price Index
8:30 AM ET Housing Starts
8:30 AM ET Eric Rosengren Speaks
9:00 AM ET Dennis Lockhart Speaks
10:30 AM ET EIA Petroleum Status Report
2:00 PM ET Beige Book
4:30 PM ET Dennis Lockhart Speaks


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.

[elle]

STD'S sell, buy Thurs

[ask2lern]

Thanks Kryptos!!!!!

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


GOLD


R3 1729.20
R2 1689.30
R1 1672.70

PP 1649.40

S1 1632.80
S2 1609.50
S3 1569.60


SILVER

R3 35.65
R2 33.67
R1 32.90

PP 31.69

S1 30.92
S2 29.71
S3 27.73


IWM

R3 76.86
R2 73.42
R1 72.12

PP 69.98

S1 68.68
S2 66.54
S3 63.10




TNA

R3 52.66
R2 46.84
R1 44.61

PP 41.02

S1 38.79
S2 35.20
S3 29.38



TZA

R3 49.43
R2 43.93
R1 40.18

PP 37.93

S1 34.18
S2 31.93
S3 25.93


SDS

R3 24.93
R2 23.32
R1 22.35

PP 21.71

S1 20.74
S2 20.10
S3 18.49


SSO

R3 49.85
R2 46.81
R1 45.59

PP 43.77

S1 42.55
S2 40.73
S3 37.69

…………………………..GLTA

[ask2lern]

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

Levels depend on reaction to Apple

The indexes were in classic "Turnaround Tuesday" mode, having begun the day in the red on a potential Moody's downgrade of France only to finish higher on a news story that France and German had agreed on a 2 trillion-euro rescue fund.

The surge took out big upside resistance areas across the board. But in yet another demonstration of how fickle earnings season can be, that may not matter much today.

While Intel, Juniper, and Yahoo turned in good quarterly numbers, Apple missed earnings expectations for the first time in years, quickly sending the stock down 10 percent in the post-market before it recovered somewhat. Given Apple's weight, if it stays below $400 today, it will take the S&P 500 and the Nasdaq 100 down a notch.

As a result of this negative reaction, I am leaving levels where they were yesterday. If necessary I will make adjustments to levels during the course of trading today.

Nasdaq 100 (NDX)
Support is at 2337.70, the pivot high from September, then at 2292.95, its 200-day moving average. Support below the 200-day is at 2256.70, then 2227.38. Resistance is at 2337.70, the pivot high from September, then at 2373.82, and 2418.99.

S&P 500 (SPX)
Support is at 1194.91, then at 1172.54, its 50-day moving average, and at 1165.55. Resistance is at 1220.39, then at 1230.71, the range peak of the last three months. A break above that level would snap the trading range, resulting in next resistance at 1249.05, which was the previous range low from the start of the year through July.

Russell 2000 (RUT)
Support is at 681.09, its 10-day moving average, then 675.74, and 662.80. Resistance is at 701.55, then 718.63, the September pivot high. On a break above that pivot, next resistance would be at 737.64, the pivot range high for the last three months.

[ask2lern]

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

Inflation, housing, Beige Book on tap

Today's economic calendar features consumer prices, new housing, and the Fed's Beige Book, as well as the weekly mortgage and oil data.

In addition, there is an event in Congress this morning that could be very important for traders: The Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing focusing on exchange-traded funds from 9:30 a.m. ET to 11:30 a.m. ET.
As leveraged funds combined with high-frequency trading are blamed for unusual volatility, the nature of questioning and the reaction of the committee members could be very important in assessing the potential for more hearings and possible additional regulation of the industry.

At 7 a.m. ET we will get MBA Purchase Applications. Economists do not make estimates for this report, and I focus only on the purchases component because it reflects new economic activity as opposed to refinancing.

Last week purchases came in at 177.1. A number that is higher than 177.1 by 5 percent or more would be bullish, and one that is lower by the same margin would be bearish.

The Consumer Price Index will be released at 8:30 a.m. ET. There are two components to the report. The first is the most commonly reported number, which includes food and fuel, and the other excludes those two categories.

The consensus forecast on the so-called headline number, which includes food and fuel, calls for a rise of 0.3 percent; estimates range from no change to a gain of 0.4 percent. The core number, which excludes food and energy, is expected to come in at up 0.2 percent; estimates range from -0.1 percent to 0.2 percent.

Also at 8:30 a.m. ET, we will get Housing Starts data. Consensus calls for starts to rise to 0.59 million units, up from the last month's 0.571 million. Estimates range from a bearish 0.56 million to a bullish 0.643 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 issues a competing report based on its own supply data.

The forecast for both reports was for a build of 1.791 million barrels. But the API release, which came out last night after the market closed, showed a surprise draw of -3.126 million barrels instead.

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

At 2 p.m. ET, the Fed's Beige Book will be released. This is an anecdotal regional survey that gives an early glimpse of economic activity ahead of general surveys and indexes in coming weeks.

As a result, traders will be parsing this release for signs of new strength or weakness. There can be additional volatility around the release of the Beige Book for this reason.

[ask2lern]

HedgeyeUS MBA Mortgage purchase app index (8.8%) in 14-Oct week; total market index (14.9%)
ocompares to +1.1% and +1.3%, respectively, in the prior week

[ask2lern]

Hedgeye Hedgeye
As we look at today’s set up for the S&P 500, the range is 43 points or -2.40% downside to 1196 and 1.11% upside to 1239. $SPY
42 minutes ago Favorite Retweet Reply

[Clinton SPX]

Consumers paid more for gas and food in September, though other price increases were modest

[Clinton SPX]

Ive adjusted my scalps to take profits faster to avoid the squeeze robots.

All scalps will still be shorts for me

[Clinton SPX]

MS looks like they discovered the cure for cancer lately.

[Clinton SPX]

so let me get this straight, people are selling gooog and aapl to buy TBTF banks. riiiiiiiight.

[Clinton SPX]

US STOCKS
Q3 Revenue USD 6.4bln vs. Exp USD 6.36bln

[Clinton SPX]

I think we know who JPM is buying with their pomo bucks, why JPM of course!

[Clinton SPX]

NEW YORK (Dow Jones)--Late credit-card payments fell in September for Citigroup Inc. (C), bucking a trend of rising defaults at other large card lenders.

[Clinton SPX]

volume dying time for Pomo to work its magic per ITMS

[Clinton SPX]

hmmm dxy moving up

[Clinton SPX]

[herceg1967]

Morgan Stanley (MS) CFO says co. is concerned about growth prospects in US and Europe Wed, 15:35 19-10-2011

[Clinton SPX]

Just got back from goodyear tire. So slow there they did my tires while I waited

[herceg1967]

They just said China's GDP may be affected by 17% due to bad loans............

Also liked commentator this morning that U.S. needs to stop blaming others for OUR problems here...........he said they are all HOME GROWN.........

JMO and OL...................

[herceg1967]

Second Miracle in 15 Years Needed for U.S. as Productivity Wanes
Q
By Alexander Kowalski and Ilan Kolet - Oct 18, 2011 7:02 PM ET

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Enlarge image
Workers assemble a 2011 Kia Sorento in the Kia automobile manufacturing facility in West Point, Georgia. Photograph: Kia Motors via Bloomberg
Enlarge image
A worker assembles components for an automated teller machine (ATM) at the Diebold Inc. manufacturing plant in Greensboro, North Carolina. Photographer: Jim R. Bounds/Bloomberg
The world’s largest economy may need its second miracle in 15 years as waning productivity growth sets the stage for slower income gains, fewer job opportunities and larger federal deficits in the U.S.
Worker output per hour has fallen for two consecutive quarters, the first back-to-back decline since 2008, and Labor Department revisions show the measure remains below levels typical for this point in a recovery. Going forward, business efficiency will advance at only about half the 3.4 percent pace during the so-called productivity miracle of 1997 to 2003, according to economists at the Federal Reserve Bank of New York.
“This is not good news amid already dim prospects,” said James Kahn, chair of the economics department at New York’s Yeshiva University and a former central-bank economist who wrote about the deceleration on the New York Fed’s Liberty Street Economics blog. “An underlying trend of slow productivity growth has emerged, which means our baseline assumptions about economic growth may be a little too optimistic.”
A rise in worker efficiency of 1.5 percent a year would mean U.S. gross domestic product of $17 trillion by 2016 before accounting for inflation, said Kahn, who worked at the New York Fed from 1997 to 2008.
His estimate is $2.3 trillion less than the Congressional Budget Office forecast of $19.3 trillion. The difference is more than five times the $420 billion in output the U.S. lost during the 18-month recession that ended in June 2009, Bloomberg News calculations show. GDP was $15 trillion in the second quarter.
Contain Costs
As productivity growth fades, it will be harder for companies to contain costs, according to Julia Coronado, chief North America economist at BNP Paribas in New York. Slower growth also may stall a return to rising wages that boost consumer spending, low inflation that makes hiring new workers less expensive and corporate profits that propel stock values, she added.
Given the weakness, “I would not suggest drastically cutting fiscal policy in the near term,” said Rudy Narvas, a senior economist at Societe Generale in New York. If the government fails to extend the payroll-tax cuts and unemployment benefits that expire in December, it “could easily push the U.S. into recession next year.” A “credible” deficit- reduction plan also “needs to be in place for when economic growth stabilizes,” he said.
Diminishing Demand
To offset rising expenses and diminishing demand while productivity is low, U.S. multinationals will need to seek more business in emerging markets such as China and Brazil, where they can find “low-cost production without necessarily sacrificing quality,” said Mark Luschini, chief investment strategist at Philadelphia-based Janney Montgomery Scott LLC, which manages $54 billion.
He recommends consumer-staple and industrial companies including Procter & Gamble Co. (PG), 3M Co. (MMM) and Honeywell International Inc. (HON), which have growing shares of income from emerging economies where per-capita wealth and consumer spending are rising.
The deceleration in U.S. business efficiency contrasts with the booming period between 1997 and 2003, when investment in technology and a more educated workforce combined to create what economists and investors from Nobel laureate Paul Krugman of Princeton University to Pacific Investment Management Co.’s Bill Gross referred to as America’s “productivity miracle.”
Former Fed Chairman Alan Greenspan recognized early on that the acceleration could contain inflation, even as the economy gained strength and unemployment stayed low.
‘Unusual Era’
“The probability that we are in a very unusual era is rising,” which “argues that prices are in check for a while,” he said in the May 1997 meeting of the Federal Open Market Committee, according to the minutes. The Fed kept its benchmark federal funds rate between 4.75 percent and 5.5 percent from 1997 through 1999, while GDP increased an average 4.6 percent a year.
Ben S. Bernanke considered the gains “almost certainly the most important economic development in the United States in the past decade,” he said in a 2005 speech he gave as a Fed governor about a year before becoming chairman of the central bank. Surges in both consumer and investment spending followed the pickup, while employment rose and inflation remained “fairly stable” as advancing business efficiency held labor costs down, Bernanke said. Real disposable income rose by an average of nearly 5.6 percent annually, Commerce Department data show.
Budget Control
The expansion in the 1990s made it “an awful lot easier to get the budget under control,” Michael Hanson, a senior U.S. economist at Bank of America Merrill Lynch in New York, said in a telephone interview. The growth generated more revenue, and the annual budget deficit of $221 billion in 1990 became a surplus of $236 billion by 2000.
These benefits are scarce now, as the revised Labor Department figures underscore a loss of momentum. Worker output per hour rose at a 2 percent annualized pace between the fourth quarter of 2007, when the recession began, and the first three months of 2011. The original estimate was 2.7 percent. Productivity fell 0.6 percent and 0.7 percent in the first and second quarters of 2011.
This negative growth is another demonstration that the boom in the 1990s and a 2009-to-2010 burst of productivity growth “were more temporary than the start of a marvelous new age of invention,” Robert Gordon, a professor at Northwestern University in Evanston, Illinois, said in an e-mail. Gordon is a member of the National Bureau of Economic Research committee that determines the start and end dates for economic declines.
Rising Probability
Following the revisions, the probability that the U.S. is in a period of low productivity growth has increased to 90 percent from 40 percent, according to the research by Yeshiva University’s Kahn, which was co-written by Robert Rich, an economist at the New York Fed.
The model they used, which also takes into account labor compensation and consumer spending, shows growth in employee output probably will remain under 2 percent for the next five years. The slowdown indicates that estimates underlying the severity of the fiscal problem may “turn out to be overly optimistic,” said Harvard University professor Dale Jorgenson.
The CBO anticipates potential worker output per hour will advance an average of 2 percent a year until 2016 and then 2.2 percent annually until 2021. Forecasters combine projections for productivity and labor-force growth to determine the extent to which the economy can expand.
Aging Workforce
“It’s pretty clear at this stage that we are running under” forecasts and “are likely to continue to do so,” Greenspan said Sept. 21 in a discussion hosted by the New America Foundation in Washington. Because of the aging workforce and lower productivity, the congressional supercommittee charged with trimming the budget deficit by about $1.5 trillion in 10 years should cut as much as $6 trillion, he said.
“The economy can’t shoulder too heavy a burden, so you have to design policies very carefully that will produce the maximum benefit and help create or support industries that will be the growth engines of the future,” said BNP Paribas’s Coronado, who is a former Fed economist.
Output per employee hour will continue to lag behind until companies start spending more on technology and ideas that boost production without requiring more input, said Michael Mandel, chief economic strategist at the Progressive Policy Institute in Washington.
Business Investment
While business investment on equipment and software has increased by an average annual pace of 13 percent each quarter since the recession ended, Mandel calculates it’s 19 percent below where it should be, based on the 10 year average pre- recession trend.
That’s partly because of economic uncertainty, he said in a telephone interview. After growing by 3 percent in 2010, gross domestic product expanded at an average of less than 1 percent in January-June and is projected to rise 1.7 percent for the full year and 2 percent in 2012, based on the median estimates of economists surveyed by Bloomberg News.
There are signs the U.S. is gaining strength: Private payrolls climbed 137,000 in September, and retail sales rose 1.1 percent, exceeding forecasts. U.S. companies have money to spend on boosting productivity if the outlook continues to improve. The amount of cash and cash equivalents on hand at businesses in the Standard & Poor’s 500 Index has increased by nearly 60 percent in the past four years and now exceeds $1.1 trillion, Bloomberg data show.
“We’ve got to focus on investment in physical capital, investment in human capital and investment in knowledge capital,” Mandel said. “We’ve got to get productivity up.”
To contact the reporters on this story: Alexander Kowalski in Washington at [e-mail]; Ilan Kolet in Ottawa at [e-mail]

[brosin]

Feels a little like a whiffle Wednesday

[Clinton SPX]

some big vol dumps on QQQ

[Clinton SPX]

while SPY has been painting a boring picture check out the vol bars for the last two days of QQQ someone has been ringing the bell big time

Attachments:

[Clinton SPX]

BAC starting to drop, wheres that euro monkey?

[Clinton SPX]

Today is the anniversary of the day in which the Dow Jones plunged than 22%, Black Monday

[Clinton SPX]

crude oil in a nose dive

[Clinton SPX]

wow crude straight down, no bounce

[Clinton SPX]

daaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaamn
now thats some selling

Attachments:

[Clinton SPX]

SPY at the 200ma10 lets see if she bounces