Index Support and Resistance for Monday, 2/29/2016

 

 

  Below you will find the Index Support and Resistance for Monday, 2/29/2016 as calculated from the changes in Index points through Friday, 2/26/2016’s close.  Since  February 2016 has 29 days, 2016 is a.k.a.  “Leap Year”, this Monday will be the last trading day of February 2016.  Tuesday, is the first day of March, 2016, the last third of the trading days in the, to date, miserable first quarter of 2016, and we are expecting increased trading and volatility as funds window dress for upcoming Q1 2016 financial reporting to share holders.
As I pointed out for Monday, 2/22/2016, traders were/are obsessing over breaking thru, and closing above 1950 points on the S&P 500.  We hit a high of 1946.70 and closed at 1924.44 on Monday, 2/22/2016.  On Tuesday, we hit a high of 1942.38 and closed at 1919.44.  On Thursday, we hit a high of 1951.83 and closed at 1925.41.  On Friday, we hit a high of 1962.96, and again sellers came beating stocks down so the S&P 500 closed at 1945.78 points. At first glance it appears an easy call to blame the “bears” for the selling; but, bull profit taking also accounts for a chunk of the selling.
For Monday, as posted below, the S&P 500 Volatility Index (VIX) is projected to hit a high of 20.81 and a low of 19.14.  See the “projected” Highs and “projected” Lows below.

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By James Brumley, InvestorPlace Feature Writer  |  Feb 25, 2016, 2:36 pm EST

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    Index performance Friday, 2/26/2016

• Dow Jones    16,639.97  -57.32  (-0.34%)    (chart: blue)
• Nasdaq        4,590.47   +8.27  (+0.18%)    (chart: gold)
• S&P 500       1,948.05   -3.65  (-0.19%)    (chart:  red)
•   ——————————————-
• Rus 1k (RUI)  1,074.71  -1.04 (-0.10%)
• Rus 2k (RUT)  1,037.18  +5.61 (+0.54%)
• Rus 3k (RUA)  1,141.83  -0.57 (-0.05%)
• CBOE (TNX)       17.62  +0.65 (+3.83%)
• Volatility(VIX)  19.81  +0.70 (+3.66%)

NASDAQ-100 (NDX) -Nasdaq GIDS   4,235.62 Down -5.44 (-0.13%)

 I. a. Select stocks of interest, from Friday, 2/26/2016

• AAPL   96.91  +0.15  (+0.16%)
• C      39.48  +0.86  (+2.23%)
• CHK     2.70  +0.14  (+5.47%)
• GE     29.39  +0.16  (+0.55%)
• JCP     9.59  +1.23 (+14.65%)
• MPC    34.21  -0.01  (-0.03%)
• MU     10.70  -0.02  (-0.19%)
• VRNG    2.50  -0.16  (-6.02%)
• VZ     51.01  -0.10  (-0.20%)

 I. b. Sector summary from Friday, 2/26/2016

Sector Change +/-% (best (or least worst) to worst)

• Energy +0.89%
• Financials +0.46%
• Basic Materials +0.32%
• Industrials +0.21%
• Cyclical Cons. Goods … +0.01%
• Technology -0.01%
• Healthcare -0.25%
• Telecommunications Srvcs … -0.36%
• Non-Cyclical Cons. Goods … -1.22%
• Utilities -2.05%

 II. Bonds, and/or Currencies, and/or Commodities from Friday, 2/26/2016

  II. a.  USA  Bonds

• 3 Month  0.29%  0.00 (0.00%)
• 6 Month  0.43%  -0.01 (-2.27%)
• 2 Year  0.78%  +0.03 (4.00%)
• 5 Year  1.25%  +0.02 (1.63%)
• 10 Year  1.76%  0.00 (0.00%)
• 30 Year  2.64%  -0.01 (-0.38%)

 II. b.   US Energy Information Administration   (US EIA)

• Petroleum & Other Liquids
• Weekly Supply Estimates
• This Week in Petroleum
• Crude oil storage and capacity have increased in Cushing, Oklahoma and U.S. Gulf Coast

For both Bulls and Bears:

Reuters current XLE quote and more

SELECT SECTOR SPDR ENERGY FUND (XLE) (d-w-m) (p2)

 Related previous XLE analysis:

   SELECT SECTOR SPDR ENERGY FUND (XLE) d/w/m

•    –   –   –   –           –   –   –   –           –   –   –   –

 III.  Index Support and Resistance for Monday, 2/29/2016

 Below you will find the 52 week performance, and the Year-to-Date (YTD) performance to the selected indexes.  See Section V.  Index: 52week High,  52week Low, (Close 12/31/2015) to track changes in this info.  See the 200 day simple moving average (SMA) calculations added 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 as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets.
•      –   –   –   –           –   –   –   –           –   –   –   –

( 1) For the DJIA (INDEX DJX: .DJI) (ETF: DIA)
Closed 2/26 down @  16,639.97  -57.32  (-0.34%)

•   :: Pivot point   16686.62
•   Support (s1)  16577.26       Support (s2)   16514.55
•   Resistance (r1)   16749.33   Resistance (r2)   16858.69
•   Simple Moving Average (Close 50):    16585.63
•   52 week performance  -8.64%  YTD performance  -4.51%

( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 2/26 up  @    4,590.47   +8.27  (+0.18%)

•   :: Pivot point   4596.70
•   Support (s1)   4574.55      Support (s2)  4558.63
•   Resistance (r1)  4612.62    Resistance (r2)  4634.77
•   Simple Moving Average (Close 50):  4651.77
•   52 week performance  -7.52%  YTD performance  -8.33%

( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 2/26 down  @  1,948.05   -3.65  (-0.19%)

•   :: Pivot point  1952.26
•   Support (s1)  1941.57       Support (s2)  1935.08
•   Resistance (r1)  1958.75     Resistance (r2)  1969.44
•   Simple Moving Average (Close 50):  1944.02
•   52 week performance  -7.43%  YTD performance  -4.69%
•   :: Projected High: 1955.51,   Projected Low:  1938.33

( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 2/26 down @ 1,074.71  -1.04 (-0.10%)

•   :: Pivot point   1076.69
•   Support (s1)  1071.30     Support (s2)  1067.88
•   Resistance (r1)  1080.11  Resistance (r2)  1085.50
•   Simple Moving Average (Close 50):   1073.26
•   52 week performance  -8.71%  YTD performance  -5.05%

( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 2/26 up  @  1,037.18  +5.61 (+0.54%)

•   :: Pivot point  1036.16
•   Support (s1)  1032.61       Support (s2)    1028.04
•   Resistance (r1)  1040.73    Resistance (r2)  1044.28
•   Simple Moving Average (Close 50):  1046.96
•   52 week performance  -15.91%  YTD performance  -8.69%

( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 2/26 down  @  1,141.83  -0.57 (-0.05%)

•   :: Pivot point   1143.68
•   Support (s1)   1138.29     Support (s2)  1134.74
•   Resistance (r1)  1147.23   Resistance (r2)  1152.62
•   Simple Moving Average (Close 50):   1142.14
•   52 week performance    -9.60%  YTD performance  -5.33%

( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 2/26 up  @  17.62  +0.65 (+3.83%)

•   :: Pivot point    17.62
•   Support (s1)    17.40      Support (s2)  17.19
•   Resistance (r1)  17.83     Resistance (r2)  18.05
•   Simple Moving Average (Close 50):  20.10
•   Simple Moving Average (Close 200)  21.97
•   :: Close (36 days) above/below (+/-) sma200  (-4.345) (-19.782%)
•   :: 52 week performance  -11.99%   YTD performance  -22.34%

( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 2/26 up @  19.81  +0.70 (+3.66%)

•   :: Pivot point    19.47
•   Support (s1)    18.80      Support (s2)   17.80
•   Resistance (r1)  20.47     Resistance (r2)  21.14
•   Simple Moving Average (Close 50):  21.90
•   :: 52 week performance   51.92%  YTD performance  8.79%  
•   –   –   –   –           –   –   –   –           –   –   –   –     

 IV.  Index “projected” Highs and Lows for Monday, 2/29/2016 

• Index,  :: Projected High,  Projected Low
• Dow Jones,     16717.98  …  16545.91
• Nasdaq,         4604.66  …   4566.59
• S&P 500,        1955.51  …   1938.33
• Russell 1000,   1078.40  …   1069.59
• Russell 2000,   1042.51  …   1034.39
• Russell 3000,   1145.46  …   1136.52
• CBOE TNX,         17.94  …     17.51
• Volatility,       20.81  …     19.14

 V.  Index: 52week High,  52week Low, (Close 12/31/2015) 

• Dow Jones    18351.36 15370.33  (17425.03)
• Nasdaq        5231.94    4209.76   (5007.41)
• S&P 500       2134.72    1810.10   (2043.94)
•   ——————————————-
• Rus 1k (RUI)  1191.59     995.55   (1069.65)
• Rus 2k (RUT)  1296.00     943.10   (1135.89)
• Rus 3k (RUA)  1275.89    1056.45   (1206.10)
• CBOE (TNX)       24.89     15.67    (22.69)
• Volatility(VIX)  53.29     10.88    (18.21)
•   –   –   –   –           –   –   –   –           –   –   –   –     

——  Monday, 2/22/2016 thru Friday 2/26/2016  ——-

• Index Support and Resistance for Friday, 2/19/2016
• Index Support and Resistance for Monday, 2/22/2016
•  Index Support and Resistance for Tuesday, 2/23/2016
• Index Support and Resistance for Wednesday, 2/24/2016
• Index Support and Resistance for Thursday, 2/25/2016
• Index Support and Resistance for Friday, 2/26/2016
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Hope the above Index Support and Resistance calculations for Monday, 2/29/2016
help your investing and trading today …