Index Support and Resistance for Tuesday, 12/8/2015

  Yesterday, only 1 sector was up, and only minimally +0.18% at that.  The worst hit sector was Energy, down 4.17 percent on top of Friday’s drubbing.  The Energy Sector, after OPEC’s Friday decision to continue down the market share path, without any regard to potentially lower crude prices,  was the only down sector on Friday.  Approximately 80% of Energy Sector companies were down more than 2 percent with an additional 8 percent down between zero to 2 percent.   On the Energy Sector plus side, 7 percent of the companies were up between zero and two percent, while approximately 5 percent of sector companies were up more than two percent.
A couple of take aways:  First, OPEC membership includes only 36 to 40 percent of global exporters, with crude production of about 31.5 million barrels (bbls) per day of the 93 to 95 million bbls per day of global production.  Second, OPEC is striving to extort non-OPEC members into colluding on joint production cuts to maintain market share percentages and raise prices. In the meantime, crude buyers are still buying cheap crude, taking possession, transporting, and stuffing crude into storage.  Once storage is filled, everybody will have to reduce, or shut in crude production, including OPEC.  Will the non producers capitulate to OPEC before it gets to that shutin production point and collude on production cuts to raise crude prices?  One last thought and question:  Is OPEC, at the bidding of Saudi Arabia, exceeding global demand for the un-expressed purpose of filling global storage so  when Iran is cleared to bring its crude to market there’ll be no place to put it?  That is and will be part of my draft blog, that and more,   ” Crude 2015 to 2016 (part 2) “
See also:    Crude 2015 to 2016
https://vet67to82.wordpress.com/2015/12/03/crude-2015-to-2016/

I.  Performance of the Indexes from Monday, 12/7/2015
Index chart 20151207
  • Dow Jones   17,730.51  -117.12  (-0.66%)  (chart: blue)
  • Nasdaq            5,101.81  -40.46  (-0.79%)  (chart: gold)
  • S&P 500          2,077.07  -14.62  (-0.70%)   (chart: red)
  • ——————————————-
  • Rus 1k (RUI) 1,150.43  -8.84 (-0.76%)
  • Rus 2k (RUT) 1,164.30  -19.10 (-1.61%)
  • Rus 3k (RUA) 1,226.66  -10.25 (-0.83%)
  • CBOE (TNX)      22.09  -0.16 (-0.72%)
  • Volatility (VIX)  15.84  0.00 (0.00%)
I. a. Select stocks of interest, from Monday, 12/7/2015
  • C     54.39  -0.01 (-0.02%)   After Hours: 53.73 -0.66 (-1.21%)
  • CHK    4.26  -0.01 (-0.23%)   After Hours: 4.04 -0.22 (-5.16%)
  • GE    30.37  0.00 (0.00%)   After Hours: 30.04 -0.33 (-1.09%)
  • MU     14.85  0.00 (0.00%)
  • VRNG    2.87  0.00 (0.00%)
 
I. b. Sector summary from Monday, 12/7/2015
 
  • Sector Change +/-% (best (or least worst) to worst)
  • Non-Cyclical Cons. Goods ……….. +0.18% 
  • Cyclical Cons. Goods ………………. -0.36%
  • Telecommunications Srvcs ………. -0.40%
  • Technology ………………………….. -0.60%
  • Industrials …………………………..  -0.60%
  • Utilities   ………………………………-0.62%
  • Healthcare  ………………………….. -0.68%
  • Financials  …………………………… -1.16%  
  • Basic Materials …………………….  -2.39% 
  • Energy ……………………………….  -4.17%
 
II. Bonds, and/or Currencies, and/or Commodities from Monday, 12/7/2015
 
  •   USA  Bonds
  • 3 Month  0.23%  +0.02 (9.52%)
  • 6 Month  0.49%  +0.06 (13.95%)
  • 2 Year  0.92%  -0.01 (-1.08%)
  • 5 Year  1.68%  -0.04 (-2.33%)
  • 10 Year  2.23%  -0.04 (-1.76%)
  • 30 Year  2.96%  -0.04 (-1.33%)
 III.  Index Support and Resistance for Tuesday, 12/8/2015
 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 12/7 down @ 17730.51
  •   :: Pivot point   17738.42
  •   Support (s1)  17631.34     Support (s2)   17532.18
  •   Resistance (r1)   17837.58   Resistance (r2)   17944.66
  •   Simple Moving Average (Close 50):    17418.23
  •   52 week performance   -1.27%  YTD performance  -0.52%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
  •   Closed 12/7 down @ 5101.81
  •   :: Pivot point   5107.94
  •   Support (s1)  5076.10       Support (s2)  5050.39
  •   Resistance (r1)  5133.65    Resistance (r2)  5165.49
  •   Simple Moving Average (Close 50):  4964.63
  •   52 week performance +7.62%  YTD performance  +7.72%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
  •   Closed 12/7 down @ 2077.07
  •   :: Pivot point  2078.09
  •   Support (s1)  2065.76        Support (s2)  2054.45
  •   Resistance (r1) 2089.40      Resistance (r2)  2101.73
  •   Simple Moving Average (Close 50):  2048.22
  •   52 week performance  +0.81%  YTD performance  +0.88%
  •   :: Projected High: 2,083.75,   Projected Low: 2,060.11
( 4) For the Russell 1000 (INDEX RUSSELL: RUI)
  •   Closed 12/7 down @ 1150.43
  •   :: Pivot point   1151.50
  •   Support (s1)  1144.09    Support (s2)  1137.75
  •   Resistance (r1)  1157.84  Resistance (r2)  1165.25
  •   Simple Moving Average (Close 50):   1135.44
  •   52 week performance  -0.17%  YTD performance  +0.53%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
  •   Closed 12/7 down @ 1164.30
  •   :: Pivot point  1169.65
  •   Support (s1)  1156.23     Support (s2)  1148.16
  •   Resistance (r1) 1177.72   Resistance (r2)  1191.14
  •   Simple Moving Average (Close 50):  1164.20
  •   52 week performance -0.25%  YTD performance  -3.35%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
  •   Closed 12/7 down @ 1226.66
  •   :: Pivot point   1228.26
  •   Support (s1) 1219.99   Support (s2)  1213.32
  •   Resistance (r1)  1234.93   Resistance (r2)  1243.20
  •   Simple Moving Average (Close 50):   1211.69
  •   52 week performance +0.37%  YTD performance  +0.21%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
  •   Closed 12/7 down @ 22.25
  •   :: Pivot point    22.40
  •   Support (s1)  21.89      Support (s2)  21.52
  •   Resistance (r1)  22.77    Resistance (r2)  23.28
  •   Simple Moving Average (Close 50):  21.62
  •   Simple Moving Average (Close 200)  21.92
  •   :: Close ( 3 days) above/below (+/-) sma200  +0.326 (+1.487%)
  •   :: 52 week performance -1.42%  YTD performance  2.53%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
  •   Closed 12/7 up @ 15.84
  •   :: Pivot point    16.20
  •   Support (s1)  15.22      Support (s2)  14.60
  •   Resistance (r1)  16.82    Resistance (r2)  17.80
  •   Simple Moving Average (Close 50):  16.82
  •   :: 52 week performance +6.38%  YTD performance  -17.50%
———— Tuesday, 12/8/2015 —————-
Please read:
 (4) Chesapeake Energy Corp (NYSE: CHK)
  Have a great day investing, or trading …
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