Index Support and Resistance for Tuesday, 12/1/2015

 

 The Chinese Renminbi (yuan) got the International Monetary Fund nod as one of the world’s elite currencies yesterday, thru a decision by the International Monetary Fund (IMF) that recognizes China’s rising financial and economic heft.  However, early Tuesday, an official survey showed activity in China’s manufacturing sector contracted more than expected in November.
Friday:  Saudi Arabia has to see the potential unravelling of OPEC … starting with Venezuela.  Venezuela can not continue to sell crude below costs … but, more importantly, below Venezuela budget and financial obligations.   OPEC meets Friday and Venezuela is bound to join Iran’s calls to cut production to boost prices.   A new voice at the OPEC table, Indonesia, a net crude importer, has rejoined OPEC.     If OPEC doesn’t cut, then Venezuela needs to rethink Socialism as its choice of government philosophy, as well as its membership in OPEC.   Socialism doesn’t work.  Just ask the USSR …  Nationalizing assets of foreign corporations may serve to momentarily please the people until foreign investments along with jobs disappears.   Crude prices are stuck in the mud as Mr. & Ms. Fickle Markets expect Saudi Arabia to convince OPEC members to maintain the flawed strategy of continuing crude production pumping at current levels to protect market share.  We shall see.

Tuesday’s USA economic watch list

  • Monthly vehicle sales
  • 9:45 a.m.: Manufacturing PMI
  • 10:00 a.m.: ISM manufacturing
  • 10:00 a.m.: Construction spending
  • 12:45 p.m.: Chicago Fed President Charles Evans on economy and policy
  • 8:00 p.m.: Fed Gov. Brainard on rates and monetary policy
_____     __
I.  Performance of the Indexes from Monday, 11/30/2015
Index chart 20151130
  • Dow Jones   17,719.92  -78.57  (-0.44%)   (chart: blue)
  • Nasdaq       5,108.67  -18.86  (-0.37%)   (chart: gold)
  • S&P 500      2,080.41   -9.70  (-0.46%)    (chart: red)
  • Rus 1k (RUI)  1,154.66  -5.49 (-0.47%)
  • Rus 2k (RUT)  1,198.11  -4.26 (-0.35%)
  • Rus 3k (RUA)  1,233.56  -5.75 (-0.46%)
  • CBOE (TNX)       22.18  -0.07 (-0.31%)
  • Volatility (VIX) 16.13  +1.01 (+6.68%)
 I. a. Select stocks of interest, from Monday, 11/30/2015
  • C     54.10  -0.14 (-0.25%)   After Hours: 54.09 -0.01 (-0.02%)
  • CHK    5.24  -0.03 (-0.47%)
  • GE    29.96  -0.40 (-1.32%)   After Hours: 30.05 +0.09 (0.30%)
  • MU    15.93  +0.37 (2.38%)   After Hours: 16.25 +0.32 (2.01%)
  • VRNG   3.36  +0.23 (7.49%)

 I. b. Sector summary from Monday, 11/30/2015

  •  Sector Change +/-% (best (or least worst) to worst)
  • Energy ………………………………………. +0.30% 
  • Technology ………………………………….+0.25%  
  • Utilities ……………………………………… -0.05%
  • Basic Materials ……………………………..-0.05%
  • Financials  ………………………………….. -0.26%
  • Telecommunications Srvcs ……………… -0.53%
  • Industrials ………………………………….. -0.58%
  • Cyclical Cons. Goods ………………………. -0.77%
  • Non-Cyclical Cons. Goods ………………… -0.87%
  • Healthcare …………………………………… -1.01%

 

II. Bonds, and/or Currencies, and/or Commodities from Monday, 11/30/2015

  •  USA  Bonds
  • 3 Month  0.17%  -0.01 (-5.56%)
  • 6 Month  0.35%  -0.02 (-5.41%)
  • 2 Year  0.93%  0.00 (0.00%)
  • 5 Year  1.65%  -0.01 (-0.60%)
  • 10 Year  2.21%  -0.02 (-0.90%)
  • 30 Year  2.97%  -0.02 (-0.67%)
 III.  Index Support and Resistance for Tuesday, 12/1/2015
 Below you will find the 52 week performance, and the Year-to-Date (YTD) performance to the selected indexes.  I added the 200 day simple moving average (SMA) calculations to those of the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX).  For tracking the day’s action, here
are the Pivot Points, Support points, Resistance points,  and the 50 day simple moving averages (sma),  for the DJIA, the NasdaqComp, the S&P 500, the Russell’s 1000, 2000, 3000, the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX), as well as the Volatility Index (VIX) for the S&P500.
 If the related index, or stock, is above the pivot point, the pivot point is both support, and an indication that Mr. & Ms. Fickle Markets are Bullish.  If the related Index, or stock, is below the pivot point, then the pivot point represents resistance, as well as an indication that Mr. & Ms. Fickle Markets are Bearish.
Please Note: ALL projections are for reference only. 
_______

( 1) For the DJIA (INDEX DJX: .DJI) (ETF: DIA)

Closed 11/30 down @ 17719.92

  • Pivot point   17758.98
  •   Support (s1)  17680.73      Support (s2)   17641.53
  •   Resistance (r1)   17798.18   Resistance (r2)   17876.43
  •   Simple Moving Average (Close 50):    17264.24
  •   52 week performance   -0.61%  YTD performance  -0.58%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 11/30 down @ 5108.67
  • Pivot point   5116.24
  •   Support (s1)  5091.13       Support (s2)  5073.58
  •   Resistance (r1)  5133.79    Resistance (r2)  5158.90
  •   Simple Moving Average (Close 50):  4926.20
  •   52 week performance +8.07%  YTD performance  +7.87%
( 3) For the S&P 500 (INDEX SPX: .SPX) (ETF: SPY)
Closed 11/30 down @ 2080.41
  • Pivot point  2084.88
  •   Support (s1)  2075.94        Support (s2)  2071.48
  •   Resistance (r1) 2089.34      Resistance (r2)  2098.28
  •   Simple Moving Average (Close 50):  2032.43
  •   52 week performance  +1.31%  YTD performance  +1.04%
  •   :: Projected High: 2087.11,   Projected Low: 2073.71
( 4) For the Russell 1000 (INDEX RUSSELL: RUI)
Closed 11/30 down @ 1154.66
  • Pivot point   1157.16
  •   Support (s1)  1152.16    Support (s2)  1149.66
  •   Resistance (r1)  1159.66  Resistance (r2)  1164.66
  •   Simple Moving Average (Close 50):   1121.89
  •   52 week performance  +0.61%  YTD performance  +0.90%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 11/30 down @ 1198.11
  • Pivot point  1200.06
  •   Support (s1)  1195.25     Support (s2)  1192.39
  •   Resistance (r1) 1202.92   Resistance (r2)  1207.73
  •   Simple Moving Average (Close 50):  1158.49
  •   52 week performance +3.82%  YTD performance  -0.55%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 11/30 down @ 1233.56
  • Pivot point   1236.19
  •   Support (s1) 1230.92    Support (s2)  1228.28
  •   Resistance (r1)  1238.83   Resistance (r2)  1244.10
  •   Simple Moving Average (Close 50):   1204.12
  •   52 week performance +0.81%  YTD performance  +1.26%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 11/30 down @ 22.18
  • Pivot point    22.22
  •   Support (s1)  22.09      Support (s2)  22.01
  •   Resistance (r1)  22.30    Resistance (r2)  22.43
  •   Simple Moving Average (Close 50):  21.52
  •   Simple Moving Average (Close 200)  21.88
  •   :: Close (22 days) above/below (+/-) sma200  +0.298 (+1.363%)  
  •   :: 52 week performance +0.00%  YTD performance  +2.21%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 11/30 up @ 16.13
  • Pivot point    16.07
  •   Support (s1)  15.58      Support (s2)  15.02
  •   Resistance (r1)  16.63    Resistance (r2)  17.12
  •   Simple Moving Average (Close 50):  17.64
  •   :: 52 week performance +25.53%  YTD performance  -15.99%
    ———— Tuesday, 12/1/2015 —————-
 Please read:
  Have a great day investing, or trading … 

Tags:
 (Tags-1) Indexes, Index ETFs, and Sector ETFs: 
DJIA, DIA, NASDAQ COMP, QQQ, SPX, SPY, RUI, RUT, RUA, IWM, TNX, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY, FAS, FAZ, HGY, JNK,
 (Tags-2) Stocks
AA, AAPL, ALL, C, CHK, CMCSA, CMCSK, CCZ, CSCO, CUR, DHT, FB, GE, GST, HES, HPE, HPQ, IBM,  INTC, JCP, KGC, LOR, MPC, MSFT, MVPI, MU, NCR, QCOM, RMBS, SSE, SDRL, TDC, TWC, VRNG, WDDD,

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