Index Support and Resistance for Tuesday, 12/22/2015

I advised, amongst other things:

  • The DJIA was 121.26 points below its Pivot Point for Monday,
  • The Nasdaq was 23.89 points below its Pivot Point for Monday,
  • The S&P 500 was 11.68 points below its Pivot Point for Monday,
  The  Dow Jones (.DJI) closed at 17,251.62, up +123.07 points, or (+0.72%) and +1.81 pts above the Pivot Point which is bullish.  The Nasdaq (.IXIC) closed at 4,968.92, up +45.84  points, or (+0.93%) and +21.95 pts above the Pivot Point which is Strongly Bullish. The S&P 500 (.SPX) closed at 2,021.15 up +15.60 points, or (+0.78%) and +3.92 pts above the Pivot Point which is bullish.  
  S&P500 Golden Cross:  Yesterday, the S&P 500’s (.SPX)  SMA50 (2061.50) crossed above SMA200 (2061.41)  Bullish!
                                                      –  –  –
  The markets struggled all day long, beset by a multitude of articles such as this:
   Per the 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. But, do not take my word for it:
   US EIA   Weekly Supply Estimates
                                                     –  –  –
 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.
CRUDE STORAGE:  The U.S. Gulf Coast region contains 55% of the nation’s crude oil storage capacity, and Cushing contains another 13%. As of the week ending November 27, these two locations contained 67% of the nation’s crude oil inventories.  New storage is being built.  Per the US EIA, crude storage has been expanded by about 100 million barrels.  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?
See also:    Crude 2015 to 2016
                                                     –  –  –
I.  Performance of the Indexes from Monday, 12/21/2015
Index chart 20151221
DJIA, Nasdaq, S&P500
  • Dow Jones    17,251.62  +123.07  (0.72%)  (chart: blue)
  • Nasdaq        4,968.92   +45.84  (0.93%)  (chart: gold)
  • S&P 500       2,021.15   +15.60  (0.78%)  (chart: red)
  •   ——————————————-
  • Rus 1k (RUI)  1,118.99  +8.25 (0.74%)
  • Rus 2k (RUT)  1,127.74  +6.72 (0.60%)
  • Rus 3k (RUA)  1,192.75  +8.66 (0.73%)
  • CBOE (TNX)       21.97  -0.02 (-0.09%)
  • Volatility (VIX) 18.70  -2.00 (-9.66%)
 I. a. Select stocks of interest, from Monday, 12/21/2015
  • C      51.80  +0.59 (1.15%)   After Hours: 51.88 +0.08 (0.15%)
  • CHK     4.07  +0.01 (0.37%)   After Hours:  4.09 +0.02 (0.62%)
  • GE     30.39  +0.11 (0.36%)   After Hours: 30.44 +0.05 (0.16%)
  • MU     14.77  +0.41 (2.86%)   After Hours: 14.87 +0.10 (0.68%)
  • VRNG    2.42  -0.14 (-5.47%)
 I. b. Sector summary from Monday, 12/21/2015
  • Sector Change +/-% (best (or least worst) to worst)
  • Technology  …………………. +1.03%
  • Basic Materials  …………….. +0.73%
  • Industrials  ………………… +0.70%
  • Non-Cyclical Cons. Goods ……… +0.69%
  • Healthcare ………………….  +0.64%
  • Financials ………………….  +0.62%
  • Telecommunications Srvcs ……… +0.56%
  • Cyclical Cons. Goods …………. +0.55%
  • Utilities  ………………….. +0.24%
  • Energy  …………………………… -0.04%

 II. Bonds, and/or Currencies, and/or Commodities from Monday, 12/21/2015

  USA  Bonds
  • 3 Month  0.16%  -0.03 (-15.79%)
  • 6 Month  0.43%  -0.02 (-4.44%)
  • 2 Year  0.95%  +0.01 (1.06%)
  • 5 Year  1.66%  0.00 (0.00%)
  • 10 Year  2.19%  0.00 (0.00%)
  • 30 Year  2.91%  0.00 (0.00%)
US Energy Information Administration 

 

                                                   –  –  –
 III.  Index Support and Resistance for Tuesday, 12/22/2015
  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 12/21 up @ 17251.62
  •   :: Pivot point   17213.57
  •   Support (s1)  17154.78     Support (s2)   17057.94
  •   Resistance (r1)   17310.41   Resistance (r2)   17369.20
  • Simple Moving Average (Close 50):    17573.22
  •   52 week performance   -3.11%  YTD performance -3.21%
  •   :: ( DJIA pivot point chart )
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
  Closed 12/21 up @  4968.92
  •   :: Pivot point   4955.59
  •   Support (s1)  4942.26       Support (s2)  4915.60
  •   Resistance (r1)  4982.25    Resistance (r2)  4995.58
  •   Simple Moving Average (Close 50):  5025.32
  •   52 week performance +3.92%  YTD performance  +4.92%
  •   :: ( Nasdaq pivot point chart )
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
  Closed 12/21 up @ 2021.15
  •   :: Pivot point  2016.66
  •   Support (s1)  2010.42        Support (s2)  1999.69
  •   Resistance (r1) 2027.39      Resistance (r2)  2033.63
  •   Simple Moving Average (Close 50):  2062.40
  •   52 week performance  -2.76%  YTD performance  -1.83%
  • :: Projected High: 2,030.51,   Projected Low:  2,013.54
  •   :: ( S&P500 pivot point chart )

( 4) For the Russell 1000 (INDEX RUSSELL: RUI)

Closed 12/21 up @ 1118.99

  •   :: Pivot point   1116.59
  •   Support (s1)  1113.17    Support (s2)  1107.35
  •   Resistance (r1)  1122.41  Resistance (r2)  1125.83
  •   Simple Moving Average (Close 50):   1143.49
  •   52 week performance  -2.66%  YTD performance  -2.22% 
  •   :: ( Russell 1000 pivot point chart )
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
  Closed 12/21 up @ 1127.74
  •   :: Pivot point  1126.25
  •   Support (s1)  1122.10     Support (s2)  1116.46
  •   Resistance (r1) 1131.89   Resistance (r2)  1136.04
  •   Simple Moving Average (Close 50):  1165.04
  •   52 week performance  -6.17%  YTD performance  -6.39%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
  Closed 12/21 up @ 1192.75
  •   :: Pivot point   1190.24
  •   Support (s1) 1186.69   Support (s2)  1180.44
  •   Resistance (r1)  1196.39   Resistance (r2)  1200.04
  •   Simple Moving Average (Close 50):   1220.60
  •   52 week performance -3.45%  YTD performance  -2.56%
  •   :: ( Russell 3000 pivot point chart )
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
  Closed 12/21 down @ 21.97
  •   :: Pivot point    21.93
  •   Support (s1)  21.76      Support (s2)  21.54
  •   Resistance (r1)  22.15    Resistance (r2)  22.32
  •   Simple Moving Average (Close 50):  21.93
  •   Simple Moving Average (Close 200)  22.00
  •   :: Close ( 2 days) above/below (+/-) sma200  -0.027 (-0.125%)
  •   :: 52 week performance +1.62%  YTD performance  +1.24%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
  Closed 12/21 down @ 18.70
  •   :: Pivot point    19.20
  •   Support (s1)   18.20      Support (s2)  17.69
  •   Resistance (r1)  19.71    Resistance (r2)  20.71
  •   Simple Moving Average (Close 50):  16.78
  • :: 52 week performance  +26.35%  YTD performance  -2.60%
  _______
 
 IV.  Index “projected” Highs and Lows for Tuesday, 12/22/2015
  • Index,  :: Projected High,  Projected Low
  •   Dow Jones,    17,339.81      17,184.18
  •   Nasdaq,        4,988.92 4,948.93
  •   S&P 500,       2,030.51 2,013.54
  •   Russell 1000,  1,124.12 1,114.88
  •   Russell 2000,  1,133.97 1,124.18
  •   Russell 3000,  1,198.22 1,188.42
  •   CBOE TNX,         22.04    21.65
  •   Volatility,       19.46    17.95
———— Tuesday, 12/22/2015  —————-

( x)   Links can be opened in a new tab or new window …

( xi )  I will be returning and adding more related chart info including links to charts with  daily, weekly, and monthly chart analysis

 Please read:
 [ Blogs ]
 (4) Chesapeake Energy Corp (NYSE: CHK)
Have a great day investing, or trading … 
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