Index Support and Resistance for Friday, 12/11/2015

  Today’s markets are going to be roiled by a global “glut” appraisal of crude after the International Energy Agency (IEA) warned that global oversupply of crude could worsen next year.    In the meantime, crude buyers are still buying cheap crude, taking possession, transporting, and stuffing crude into storage.   Oh yeah, new storage is being planned and built to accommodate storing even MORE crude.  It would seem that, if it truly was a crude “glut” as the hype suggests,  buyers would STOP buying crude, and you would NOT be building new storage …. unless, the hype is wrong, and the buyers want greater on hand stocks of crude.
  While the reports hype crude “glut”, per the US Energy Information Administration (US EIA), commercial stocks of crude declined, from 31.2 days of supply on 11/6/2015, to 29.5 days of supply on 12/4/2015 … or a drop of 1.7 days supply of USA commercial crude supply.   Since we, the USA,  use about 19.5 million barrels of crude per day, that 1.7 days reduction translates to a drop of approximately 33.2 million barrels of crude.
But, do not take my word for it:
  I.  Performance of the Indexes from Thursday, 12/10/2015
            Index chart 20151210
  • Dow Jones    17,574.75   +82.45  (+0.47%)  (chart: blue)
  • Nasdaq        5,045.17   +22.31  (+0.44%)  (chart: gold)
  • S&P 500       2,052.23    +4.61  (+0.23%)  (chart: red)
  •    —————————
  • Rus 1k (RUI)  1,136.71  +2.74 (0.24%)
  • Rus 2k (RUT)  1,149.02  +3.15 (0.28%)
  • Rus 3k (RUA)  1,211.91  +2.96 (0.24%)
  • CBOE (TNX)       22.39  +0.31 (1.40%)
  • Volatility (VIX)  19.34  -0.27 (-1.38%)
 I. a. Select stocks of interest, from Thursday, 12/10/2015
  • C         52.65  -0.16 (-0.30%)
  • CHK     4.56  +0.09 (2.01%)   Pre-market: 4.47 -0.09 (-1.97%)
  • GE       30.66  +0.19 (0.62%)
  • MU      14.66  +0.34 (2.37%)   After Hours: 14.69 +0.03 (0.20%)
  • VRNG    2.37  +0.01 (0.42%)
 I. b. Sector summary from Thursday, 12/10/2015
  • Sector Change +/-% (best (or least worst) to worst)
  • Healthcare  ………………………………. +0.73% 
  • Industrials  ………………………………. +0.28% 
  • Cyclical Cons. Goods …………………… +0.24% 
  • Telecommunications Srvcs …………… +0.21% 
  • Technology  ………………………………. +0.18% 
  • Financials ……………………………..  -0.05%
  • Non-Cyclical Cons. Goods …………. -0.17%
  • Basic Materials ……………………….  -0.17%
  • Energy ………………………………….  -0.20%
  • Utilities …………………………………….  -1.41%   
 II. Bonds, and/or Currencies, and/or Commodities from Thursday, 12/10/2015
  •   USA  Bonds
  • 3 Month  0.21%  -0.02 (-8.70%)
  • 6 Month  0.48%  +0.04 (9.09%)
  • 2 Year  0.95%  +0.02 (2.15%)
  • 5 Year  1.68%  +0.03 (1.82%)
  • 10 Year  2.23%  +0.02 (0.90%)
  • 30 Year  2.97%  +0.01 (0.34%)
 III.  Index Support and Resistance for Friday, 12/11/2015
 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)  12/10
  •   Closed 12/10 up @ 17574.75
  •   :: Pivot point   17582.38
  •   Support (s1)  17467.03     Support (s2)   17359.30
  •   Resistance (r1)   17690.11   Resistance (r2)   17805.46
  •   Simple Moving Average (Close 50):    17500.46
  •   52 week performance   +0.24%  YTD performance -1.39%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
  •   Closed 12/10 up @ 5045.17
  •   :: Pivot point   5046.71
  •   Support (s1)  5017.77       Support (s2)  4990.37
  •   Resistance (r1)  5074.11    Resistance (r2)  5103.05
  •   Simple Moving Average (Close 50):  4994.33
  •   52 week performance +7.16%  YTD performance  +6.53%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
  •   Closed 12/10 up @ 2052.23
  •   :: Pivot point  2055.18
  •   Support (s1)  2042.72        Support (s2)  2033.20
  •   Resistance (r1) 2064.70      Resistance (r2)  2077.16
  •   Simple Moving Average (Close 50):  2057.11
  •   52 week performance  +0.83%  YTD performance  -0.32%
  •   :: Projected High: 2,070.93,   Projected Low: 2,048.95
( 4) For the Russell 1000 (INDEX RUSSELL: RUI)
  •   Closed 12/10 up @ 1136.71
  •   :: Pivot point   1138.23
  •   Support (s1)  1131.52    Support (s2)  1126.34
  •   Resistance (r1)  1143.41  Resistance (r2)  1150.12
  •   Simple Moving Average (Close 50):   1140.41
  •   52 week performance  +1.07%  YTD performance  -0.67%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
  •   Closed 12/10 up @ 1149.02
  •   :: Pivot point  1149.30
  •   Support (s1)  1143.75     Support (s2)  1138.49
  •   Resistance (r1) 1154.56   Resistance (r2)  1160.11
  •   Simple Moving Average (Close 50):  1167.72
  •   52 week performance  -1.54%  YTD performance  -4.62%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
  •   Closed 12/10 up @ 1211.91
  •   :: Pivot point   1213.45
  •   Support (s1) 1206.42   Support (s2)  1200.93
  •   Resistance (r1)  1218.94   Resistance (r2)  1225.97
  •   Simple Moving Average (Close 50):   1217.17
  •   52 week performance +2.02%  YTD performance  -1.00%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
  •   Closed 12/10 up @ 22.39
  •   :: Pivot point    22.28
  •   Support (s1)  22.17      Support (s2)  21.95
  •   Resistance (r1)  22.50    Resistance (r2)  22.61
  •   Simple Moving Average (Close 50):  21.70
  •   Simple Moving Average (Close 200)  21.95
  •   :: Close ( 6 days) above/below (+/-) sma200  +0.44 (+2.002%)
  •   :: 52 week performance +2.80%  YTD performance  +3.18%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
  •   Closed 12/10 down @ 19.34
  •   :: Pivot point    19.06
  •   Support (s1)  18.41      Support (s2)  17.47
  •   Resistance (r1)  20.00    Resistance (r2)  20.65
  •   Simple Moving Average (Close 50):  16.47
  •   :: 52 week performance  -8.25%  YTD performance  +0.73%

_______ IV.  Index “projected” Highs and Lows for Friday, 12/11/2015

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones,    17,747.79 17,524.71
  •   Nasdaq,        5,088.58 5,032.24
  •   S&P 500,       2,070.93 2,048.95
  •   Russell 1000,  1,146.77 1,134.88
  •   Russell 2000,  1,157.34 1,146.53
  •   Russell 3000,  1,222.46 1,209.94
  •   CBOE TNX,         22.56    22.23
  •   Volatility,       20.33    18.74
———— Friday, 12/11/2015 —————-
 Please read:
 (4) Chesapeake Energy Corp (NYSE: CHK)
  Have a great day investing, or trading …
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