Index Support and Resistance for Monday, 4/18/2016

 

  Below you will find the Index Support and Resistance for Monday, 4/18/2016 as calculated from the changes in Index points through Friday, 4/15/2016’s close.
 U.S. stocks and indices took small losses in quiet trading Friday while Energy Sector exploration and production (E&P) companies pulled back with the price of crude.  The USA markets, especially the Energy Sector, were hoping for a Doha production freeze agreement, potentially the first such OPEC agreement in 15 years,  out of the Doha meeting this Sunday.  But, Iran didn’t attend, and so no production freeze agreement was arrived at.
Saudi Arabia and Iran, as everyone well knows, have been long term adversaries.  In my humble opinion, when it looked like Iran was going to cede its nuclear ambitions to get relief from sanctions, Saudi Arabia embarked on its strategy to maintain market share, to the detriment of the USA E&P companies, and even to that of other OPEC countries and their crude revenues based economies.  IMHO, the flawed Saudi strategy to fill global storage to capacity in hopes of leaving Iran without buyers for Iranian crude failed from the outset.  It was, and still is, a STUPID, it is NOT WORKING  plan.  In a ZERO interest rate, and negative interest rate environment, global end users are all too happy to BUILD more storage, buy every cheap drop of OPEC crude that OPEC, foolishly, can produce and stockpile it against future demand.   Money in the bank is WORTHLESS!  Crude in storage is priceless!
Keep in mind, the 1 to 2 million barrels per day of excess production, less what is lost to daily outages, plus what production can not be verified … takes 45 days to 90 days of accumulation to equal ONE day of global demand.  If four quarters of crude supply exceeding demand only increases commercial crude stocks in storage by FOUR days of global demand … is that really a glut?   HMM!?
 The USA market indices mostly finished higher for the week.
By Friday’s close, the Dow Jones Industrial Average (DJIA) pulled back 28.97 points, or 0.2 percent, to 17,897.46.  For the week, April 11 to 15th, the DJIA gained +320.50 points, or +1.8 percent.  Year 2016 to date, the DJIA is up +472.43 points, or +2.71 percent.
By Friday’s close, the Standard & Poor’s 500 Index (SPX) pulled back 2.05 points, or 0.1 percent, to 2,080.73.  For the week, April 11 to 15th, the S&P 500 added +33.13 points, or +1.6 percent.  Year 2016 to date, the S&P 500 is up +36.79 points, or +1.80 percent.
By Friday’s close, the Nasdaq Composite Index pulled back 7.67 points, or 0.2 percent, to 4,938.22.  For the week, April 11 to 15th, the Nasdaq gained +87.53 points, or +1.8 percent.  Year 2016 to date, the Nasdaq is hurting, down -69.19 points, or -1.38 percent.
   At this time, Asia markets are down with crude on the lack of a Doha agreement.   Our USA E-mini futures are trading lower.   Tomorrow’s opening bell could be a negative Nelly.   GLTA
           ————————-
Index chart 20160415
 Index performance Friday, 4/15/2016
  • Dow Jones    17,897.46  -28.97  (-0.16%)    (chart: blue)
  • Nasdaq        4,938.22   -7.67  (-0.16%)    (chart: gold)
  • S&P 500       2,080.73   -2.05  (-0.10%)    (chart: red )
  •   ——————————————-
  • Rus 1k (RUI)  1,151.31   -0.73  (-0.06%)
  • Rus 2k (RUT)  1,130.92   +2.33  (+0.21%)
  • Rus 3k (RUA)  1,224.82   -0.53  (-0.04%)
  • CBOE (TNX)       17.52   -0.29  (-1.63%)
  • Volatility(VIX)  13.62   -0.10  (-0.73%)
 I. a. Select stocks of interest, from Friday, 4/15/2016
  • AAPL  109.85  -2.25 (-2.01%)
  • C      44.94  -0.06 (-0.12%)
  • CHK     6.02  +0.01 (+0.17%)
  • GE     31.02   0.00 (+0.00%)
  • JCP     9.85  +0.19 (1.92%)
  • MPC    37.90  -1.52 (-3.86%)
  • MU     10.69  +0.29 (2.79%)
  • VRNG    1.93  -0.23 (-10.65%)
  • VZ     51.34  -0.02 (-0.04%)
 I. b. Sector summary from Friday, 4/15/2016
Sector Change +/-% (best (or least worst) to worst)
  • Non-Cyclical Cons. Goods ………….. +0.89%    
  • Utilities ……………………….. +0.51% 
  • Basic Materials ………………….. +0.37% 
  • Cyclical Cons. Goods ……………… +0.12%
  • Telecommunications Srvcs ………….. +0.11%    
  • Industrials ……………………… +0.07% 
  • Healthcare ……………….. -0.06%  
  • Financials ……………….. -0.25% 
  • Technology ……………….. -0.27%    
  • Energy …………………… -1.24% 
 II. Bonds, and/or Currencies, and/or Commodities from Friday, 4/15/2016
  II. a.  USA  Bonds
  • 3 Month  0.22%  0.00 (0.00%)
  • 6 Month  0.35%  0.00 (0.00%)
  •  2 Year  0.73%  -0.02 (-2.67%)
  •  5 Year  1.21%  -0.02 (-1.63%)
  • 10 Year  1.76%  -0.01 (-0.56%)
  • 30 Year  2.56%  -0.02 (-0.78%)
II. b.   US Energy Information Administration   (US EIA)

For both Bulls and Bears:

current XLE quote (Reuters) and more

Related previous XLE analysis:

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

  • –   –   –   –           –   –   –   –           –   –   –   –
 III.  Index Support and Resistance for Monday, 4/18/2016
 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 4/15 down  @  17,897.46  -28.97  (-0.16%) (below PP)
  •   :: Pivot point (PP)   17900.84
  •   Support (s1)  17864.03       Support (s2)   17830.60
  •   Resistance (r1)   17934.27   Resistance (r2)   17971.08
  •   Simple Moving Average (Close 50):    17053.67       (uptrend  3/16)
  •   52 week performance  -1.15%   YTD performance  +2.71%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 4/15 down  @  4,938.22   -7.67  (-0.16%)  (above PP)
  •   :: Pivot point (PP)  4938.04
  •   Support (s1)   4925.64      Support (s2)  4913.07
  •   Resistance (r1)  4950.61    Resistance (r2)  4963.01
  •   Simple Moving Average (Close 50):  4680.56          (uptrend  3/21)
  •   52 week performance  +0.13%   YTD performance  -1.38%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 4/15 down  @  2,080.73   -2.05  (-0.10%)  (above PP)
  •   :: Pivot point (PP)  2080.09
  •   Support (s1)  2076.95        Support (s2)  2073.18
  •   Resistance (r1)  2083.86     Resistance (r2)  2087.00
  •   Simple Moving Average (Close 50):  1990.13          (uptrend  3/16)
  •   52 week performance  -0.02%  YTD performance  +1.80%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 4/15 down  @  1,151.31   -0.73  (-0.06%)  (above PP)
  •   :: Pivot point (PP)   1150.83
  •   Support (s1)  1149.38      Support (s2)  1147.44
  •   Resistance (r1)  1152.77   Resistance (r2)  1154.22
  •   Simple Moving Average (Close 50):  1098.58          (uptrend  3/16)
  •   52 week performance  -2.17%  YTD performance  +1.72%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 4/15 up  @  1,130.92   +2.33  (+0.21%)  (above PP)
  •   :: Pivot point (PP)  1129.37
  •   Support (s1)   1126.61      Support (s2)   1122.29
  •   Resistance (r1)  1133.69    Resistance (r2)  1136.45
  •   Simple Moving Average (Close 50):  1061.23          (uptrend  3/18)
  •   52 week performance  -9.66%   YTD performance   -0.44%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 4/15 down   @  1,224.82  -0.53 (-0.04%)  (above PP)
  •   :: Pivot point (PP)   1224.28
  •   Support (s1)   1222.79     Support (s2)  1220.76
  •   Resistance (r1)  1226.31   Resistance (r2)  1227.80
  •   Simple Moving Average (Close 50):   1165.03          (uptrend  3/16)
  •   52 week performance   -2.63%    YTD performance  +1.55%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 4/15 down  @   17.52  -0.29 (-1.63%)  (below PP)
  •   :: Pivot point (PP)    17.58
  •   Support (s1)    17.34      Support (s2)  17.16
  •   Resistance (r1)  17.76     Resistance (r2)  18.00
  •   Simple Moving Average (Close 50):  18.12
  •   Simple Moving Average (Close 200)  21.17
  •   :: Close (70 days) above/below (+/-) sma200  (-3.645) (-17.223%)
  •   :: 52 week performance  -5.30%   YTD performance -22.79%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 4/15 down   @  13.62  -0.10 (-0.73%) (below PP)
  •   :: Pivot point (PP)    13.80
  •   Support (s1)    13.40      Support (s2)   13.19
  •   Resistance (r1)  14.01     Resistance (r2)  14.41
  •   Simple Moving Average (Close 50):  17.84
  •   :: 52 week performance   +2.41%   YTD performance  -25.21%
  •     –   –   –   –           –   –   –   –
 IV.  Index “projected” Highs and Lows for Monday, 4/18/2016
  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 17917.56  …  17847.32
  •   Nasdaq……..  4944.33  …   4919.36
  •   S&P 500 ……  2081.98  …   2075.07
  •   Russell 1000 .  1151.80  …   1148.41
  •   Russell 2000 .  1135.07  …   1127.99
  •   Russell 3000 .  1225.30  …   1221.78
  •   CBOE TNX ……   17.67  …     17.25
  •   Volatility …    13.91  …     13.30
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • 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, 4/18/2016 thru Friday 4/22/2016  ——-

 

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Hope the above Index Support and Resistance calculations for Monday, 4/18/2016
help your investing and trading planning today …
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