Mr. & Ms. Fickle Markets seem to be favoring a raise in the Fed funds rate. Last night, scanning the fundamentals first, then the charts, at the close we got:
- a pivot point long entry signal for the DJIA (.DJI)
- a pivot point long entry signal for the Nasdaq (.IXIC)
- a pivot point long entry signal for the S&P 500 (.SPX)
- a pivot point long entry signal for the Russell 1000 (.RUI)
- a pivot point long entry signal for the Russell 3000 (.RUA)
Russell 1000 (.RUI) pivot point chart for Wednesday 12/16/2015:
III. Index Support and Resistance for Wednesday, 12/16/2015
Below you will find the 52 week performance, and the Year-to-Date (YTD) performance to the selected index. For tracking the day’s action, here are the Pivot Points, Support points, Resistance points, and the 50 day simple moving averages (sma).
- 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.
( 4) For the Russell 1000 (INDEX RUSSELL: RUI)
- Closed 12/15 up @ 1130.71
- :: Pivot point 1128.64
- Support (s1) 1121.17 Support (s2) 1111.63
- Resistance (r1) 1138.18 Resistance (r2) 1145.65
- Simple Moving Average (Close 50): 1142.44
- 52 week performance +2.36% YTD performance -1.19%
( xi) I will be returning and adding, and updating more info including daily, weekly, and monthly chart analysis below
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Have a great day investing, or trading …
NOTE: Today, at 2 PM ET, the Fed announced an increase of 0.25 in the Fed Funds Rate. Fed Chair Janet Yellen then spoke at 2:30 PM ET and answered questions.