Index Support and Resistance for Thursday, 4/28/2016

Below you will find the Index Support and Resistance for Thursday, 4/28/2016 as calculated from the changes in Index points through Wednesday, 4/27/2016’s close.  

Today’s global markets reaction to the Central Bank of Japan’s interest rate decision is absurd.    Some of us are not only paying attention … we’re doing our own homework.

  What would a football game look like if BOTH offenses were on the field at the same time … with the defenses riding the bench?  What would a baseball game look like if everyone was up at bat at the SAME time?   What does QE accomplish for its respective economies if all the Central Banks are playing QE at the same time?  

Its your MONEY, my money, our money …

IMHO, I can’t help but believe the global Central banks are now wising up regarding the root of the global problem with continued Quantitative Easing (QE), even negative interest rates … it isn’t working.   The Central Banks actions, through interest rate reductions, while not intended to … also impact their respective currencies.  Mr. and Ms. Fickle Markets not only get this, but evidence is mounting that Mr. & Ms. Fickle Markets are undermining the Central Banks efforts before the Central Banks can see any benefit from their individual and collective actions.
If a Central Bank reduces its interest rates to spur its economy … and its currency weakens making imports more EXPENSIVE, and exports more profitable … then growth in exports should spur companies to put more people to work.  Working people have income to feed and house their families, pay mortgages, rents, and bills.  More working people means a larger tax payer base for that government … and more tax revenue for that government to pay its bills, maybe even pay down debt … instead of constantly rolling it over (Hint … hint).    AND, if working people have discretionary funds remaining … they might save OR support internal consumption and economic growth with their purchases.  As their spending swirls through local economies, more people need to be put to work to take the strain off understaffed businesses seeing more demand for their products and services.  That is the roller coaster we WANT to be on.
BUT, FLAW 1, with every major Central Bank playing the interest rate (and currency) game, the interest rate/weakened currency benefit is too short lived to get to the economic point where companies hire more people to build more gadgets for export.  There is NO trickle through to the Central Bank’s economy … any Central Bank’s economy.
Lately however, FLAW 2, it would appear, since the evidence suggests it is so, that global markets are working at cross purposes to Central Banks’ efforts, that the global markets are undermining the efforts causing some currencies to strengthen instead of weakening … suggesting manipulation to entice ever more Quantitative Easing (QE).  BAD BEHAVIOR from global markets should NOT be rewarded with more unproductive QE …
Globally, IMHO, we need to see Central banks, collectively, gradually raise interest rates to at least 1.00 percent.  USA banks stuffed nearly $2.4 TRILLION dollars in bonds at the Fed as Additional “reserves.”  There was NO printing of cash, as the Fed didn’t PAY anything except interest to the banks on the bonds . … this is monies NOT out in the USA economy … NOT helping the “trickle down and through” economic plan.

 Conclusion:  Computer algorithm driven Mr. & Ms. Fickle Global Markets are detrimental to the health and well being of their own economies … because the focus is no longer investing for the future … it’s ben reduced to “What are you going to do for me in the next two seconds?” day trading.   Further, no actions the governments, or Central Banks, can take can’t be figured out in nanoseconds … and then strategies to take ADVANTAGE of those actions put in play within days, hours, even minutes.

  Its your MONEY, my money, our money …  there must be one or more mutually acceptable resolutions … if you have any ideas, opinions, please feel free to express them below.  Whether you are bullish, or bearish, please join the discussion.

Index chart 20160427
 Index performance Wednesday, 4/27/2016
  • Dow Jones    18,041.55  +51.23  (+0.28%)    (chart: blue)
  • Nasdaq        4,863.14  -25.14  (-0.51%)    (chart: gold)
  • S&P 500       2,095.15   +3.45  (+0.16%)    (chart:  red)
  •   ——————————————-
  • Rus 1k (RUI)  1,160.52   +2.07  (+0.18%)
  • Rus 2k (RUT)  1,154.15   +3.42  (+0.30%)
  • Rus 3k (RUA)  1,235.75   +2.31  (+0.19%)
  • CBOE (TNX)       18.60   -0.71  (-3.68%)
  • Volatility(VIX)  13.77   -0.19  (-1.36%)
I. a. Select stocks of interest, from Wednesday, 4/27/2016
  • AAPL   97.82  -6.53 (-6.26%)   After Hours: 98.00 +0.18 (+0.18%)
  • C  ….    47.35  +0.25 (+0.53%)   After Hours: 47.33 -0.02 (-0.04%)
  • CHK ..    7.15  +0.55 (+8.33%)   After Hours:  7.09 -0.06 (-0.84%)
  • GE ..    30.94  +0.05 (+0.15%)   After Hours: 31.01 +0.07 (+0.21%)
  • JCP …    9.62  +0.14 (+1.42%)
  • MPC     41.38  -0.08 (-0.19%)
  • MU …   11.56  +0.05 (+0.43%)   After Hours: 11.69 +0.13 (+1.12%)
  • VRNG    1.88  +0.05 (+2.73%)
  • VZ …    51.70  +1.26 (+2.50%)   After Hours: 51.69 -0.01 (-0.02%)
 I. b. Sector summary from Wednesday, 4/27/2016
Sector Change +/-% (best (or least worst) to worst)
  • Energy……………………………  +1.90% 
  • Utilities ………………………….. +1.18%    
  • Telecommunications Srvcs …. +0.88%  
  • Basic Materials …………………. +0.71%
  • Non-Cyclical Cons. Goods …… +0.69% 
  • Industrials ………………………. +0.65% 
  • Financials ………………………… +0.11%    
  • Cyclical Cons. Goods ……… -0.07% 
  • Healthcare…………………..  -0.06% 
  • Technology …………………. -0.64%     
 II. Bonds, and/or Currencies, and/or Commodities from Wednesday, 4/27/2016
  II. a.  USA  Bonds
  • 3 Month  0.20%  -0.03 (-13.04%)
  • 6 Month  0.38%  0.00 (0.00%)
  •  2 Year  0.81%  -0.04 (-4.71%)
  •  5 Year  1.31%  -0.05 (-3.68%)
  • 10 Year  1.85%  -0.05 (-2.63%)
  • 30 Year  2.70%  -0.03 (-1.10%)

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 Thursday, 4/28/2016

 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 4/27 up  @  18,041.55  +51.23  (+0.28%) (above 4/28 PP)
  •   :: Pivot point (PP)   18015.49
  •   Support (s1)  17946.32       Support (s2)   17851.09
  •   Resistance (r1)   18110.72   Resistance (r2)   18179.89
  •   Simple Moving Average (Close 50):    17368.50       (uptrend  3/16)
  •   52 week performance  -0.38%  YTD performance  +3.54%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 4/27 down  @   4,863.14  -25.14  (-0.51%)  (above 4/28 PP)
  •   :: Pivot point (PP)  4854.14
  •   Support (s1)   4835.38      Support (s2)  4807.61
  •   Resistance (r1)  4881.91    Resistance (r2)  4900.67
  •   Simple Moving Average (Close 50):  4772.54          (uptrend  3/21)
  •   52 week performance  -3.19%   YTD performance -2.88%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 4/27 up  @  2,095.15   +3.45  (+0.16%)  (above 4/28 PP)
  •   :: Pivot point (PP)  2092.45
  •   Support (s1)  2085.01        Support (s2)  2074.87
  •   Resistance (r1)  2102.59     Resistance (r2)  2110.03
  •   Simple Moving Average (Close 50):  2026.38         (uptrend  3/16)
  •   52 week performance  -0.56%  YTD performance  +2.51%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 4/27 up  @  1,160.52   +2.07  (+0.18%)  (above 4/28 PP)
  •   :: Pivot point (PP)   1159.02
  •   Support (s1)  1155.00      Support (s2)  1149.47
  •   Resistance (r1)  1164.55   Resistance (r2)  1168.57
  •   Simple Moving Average (Close 50):  1119.57          (uptrend  3/16)
  •   52 week performance  -1.70%  YTD performance  +2.53%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 4/27 up  @  1,154.15   +3.42  (+0.30%)  (above 4/28 PP)
  •   :: Pivot point (PP)  1152.02
  •   Support (s1)   1147.98      Support (s2)   1141.80
  •   Resistance (r1)  1158.20    Resistance (r2)  1162.24
  •   Simple Moving Average (Close 50):  1087.80          (uptrend  3/18)
  •   52 week performance  -7.44%   YTD performance   +1.61%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 4/27 up   @  1,235.75   +2.31  (+0.19%)  (above 4/28 PP)
  •   :: Pivot point (PP)   1234.12
  •   Support (s1)   1229.88     Support (s2)  1224.00
  •   Resistance (r1)  1240.00   Resistance (r2)  1244.24
  •   Simple Moving Average (Close 50):   1187.40          (uptrend  3/16)
  •   52 week performance   -0.72%    YTD performance  +2.46%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 4/27 down  @   18.60   -0.71  (-3.68%)  (below 4/28 PP)
  •   :: Pivot point (PP)    18.77
  •   Support (s1)    18.37      Support (s2)  18.14
  •   Resistance (r1)  19.00     Resistance (r2)  19.40
  •   Simple Moving Average (Close 50):  18.26          (uptrend  4/21)
  •   Simple Moving Average (Close 200)  20.97
  •   :: Close (78 days) above/below (+/-) sma200  (-2.373) (-11.316%)
  •   :: 52 week performance  -8.60%   YTD performance -18.03%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 4/27 down   @  13.77   -0.19  (-1.36%) (below 4/28 PP)
  •   :: Pivot point (PP)    14.07
  •   Support (s1)    13.20      Support (s2)   12.62
  •   Resistance (r1)  14.65     Resistance (r2)  15.52
  •   Simple Moving Average (Close 50):  15.93
  •   :: 52 week performance   -5.36%   YTD performance  -24.38%
  •     –   –   –   –           –   –   –   –
 IV.  Index “projected” Highs and Lows for Thursday, 4/28/2016
  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 18145.31  …  17980.91
  •   Nasdaq……..  4891.29  …   4844.76
  •   S&P 500 ……  2106.31  …   2088.73
  •   Russell 1000 .  1166.56  …   1157.01
  •   Russell 2000 .  1160.22  …   1150.00
  •   Russell 3000 .  1242.12  …   1232.00
  •   CBOE TNX ……   18.89  …     18.26
  •   Volatility …    14.36  …     12.91
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • Dow Jones ..  18351.36 ..  15370.33 .. (17425.03)  n/c
  • Nasdaq …..   5231.94 ..   4209.76 ..  (5007.41)  n/c
  • S&P 500 ….   2134.72 ..   1810.10 ..  (2043.94)  n/c
  •   ——————————————-
  • Rus 1k (RUI)   1191.59 ..    995.55 ..  (1069.65)  n/c
  • Rus 2k (RUT)   1296.00 ..    943.10 ..  (1135.89)  n/c
  • Rus 3k (RUA)   1275.89 ..   1056.45 ..  (1206.10)  n/c
  • CBOE (TNX) ….. 24.89 …    15.67  ..   (22.69)  n/c
  • Volatility(VIX)  53.29 …    10.88  ..   (18.21)  n/c
  •    —     —     —     —     —     —
  •     n/c* = no change

——  Monday, 4/25/2016 thru Friday 4/29/2016  ——-

 

( x)   All 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:

 (1)  Research and Investing Disclaimer

 
              [ More  Blogs ]
           –  –
Hope the above Index Support and Resistance calculations for Thursday, 4/28/2016
help your investing and trading planning today …
Advertisements

2 thoughts on “Index Support and Resistance for Thursday, 4/28/2016

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s