Index Support and Resistance for Thursday, 5/19/2016

 

  Below you will find the Index Support and Resistance for Thursday, 5/19/2016 as calculated from the changes in Index points through Wednesday, 5/18/2016’s close. 
  The US Federal Reserve message is signaling interest rates may be heading higher as soon as the June FOMC meeting.  That sent stocks yo-yoing between gains and losses Wednesday.  The major indexes, see below, ended up closing pretty much near where they started.  Traders and investors dumped utilities and other high dividend payers, which makes no sense, because the Fed indicated rate increases would be data dependent and at a slow pace.  Bank stocks rose.  Bond prices fell, sending long-term interest rates sharply higher … again, an irrational reaction to expectations of a 0.25 basis points  increase move by the FED in either June, or July.
 Reality check:   Mr. & Ms. Fickle Markets are crying “Oh woe is me!”
 … when in reality retirees and savers, banks and insurance companies, and more NEED higher rates.  The whole global economic system is out of balance and in stagnation.  The Central Banks are working against one another in support of their own economies.  The global markets are working against the Central Banks Quantitative Easing (QE) efforts to stimulate growth and jobs through lower rates.  Look at the foreign exchange rates of the countries using QE … are their currencies weakening vs the USA dollar  … which would be expected … or strengthening?   If the currency of a Country’s Central Bank employing QE is strengthening, there are two primary suspects:   First, The Central Banks QE was/is flawed.  Second, Mr. & Ms. Fickle Markets are working against the Central Bank’s QE efforts to stuff their pockets with cash to the detriment of us all.
Higher rates will help more industries and sectors to grow earnings which will support higher indices.  Higher rates should also lead to stabilization of currencies and a  stable US dollar.  I’ve done my homework, but, there is more homework to do  …  see  Indices vs. VIX,  Indices vs. CBOE TNX, … and more … if a picture is worth a 1000 words then you’ll want to check out my next blog “Indices vs. CBOE TNX Percentage Change” looking at the percentage changes going back to the first correction in August of 2015.
  • ::Yesterday, the Dow Jones Industrial Average (DJIA  .DJI) pulled back 3.36 points, less than 0.1 percent, to 17,526.62.  For the week, the DJIA is down 8.70 points, or less than 0.1 percent.  Year to date, the DJIA is up 101.59 points, or 0.6 percent.
  • ::Yesterday, the Standard and Poor’s 500 index rose 0.42 points, less than 0.1 percent, to 2,047.63.  For the week, the S&P 500 is up 1.02 points, or less than 0.1 percent.  Year to date, the S&P 500 is up 3.69 points, or 0.2 percent.
  • ::Yesterday, the Nasdaq composite climbed 23.39 points, or 0.5 percent, to 4,739.12.  For the week, the Nasdaq is up 21.44 points, or less than 0.5 percent.  Year to date, the Nasdaq is down 268.29 points, or 5.4 percent.
Index chart 201605118
 Index performance Wednesday, 5/18/2016
  • Dow Jones    17,526.62   -3.36  (-0.02%)    (chart: blue)
  • Nasdaq        4,739.12  +23.39  (+0.50%)    (chart: gold)
  • S&P 500       2,047.63   +0.42  (+0.02%)    (chart:  red)
  •   ——————————————-
  • Rus 1k (RUI)  1,132.61   -0.02  (-0.00%)
  • Rus 2k (RUT)  1,102.95   +5.28  (+0.48%)
  • Rus 3k (RUA)  1,204.14   +0.40  (+0.03%)
  • CBOE (TNX)       18.80   +1.21  (+6.88%)
  • Volatility(VIX)  15.95   +0.38  (+2.44%)
 I. a. Select stocks of interest, from Wednesday, 5/18/2016
  • AAPL … 94.56  +1.07 (+1.14%)   After Hours: 94.77 +0.21 (+0.22%)
  • C …… 45.87  +2.17 (+4.97%)
  • CHK ….  3.86  -0.07 (-1.78%)   After Hours:  3.88 +0.02 (+0.52%)
  • FH …..  1.69  -0.02 (-1.17%)
  • GE ….. 29.60  -0.10 (-0.35%)   After Hours: 29.62 +0.02 (+0.05%)
  • JCP ….  7.30  +0.04 (+0.55%)   After Hours:  7.32 +0.02 (+0.27%)
  • MPC …. 36.75  +0.68 (+1.89%)
  • MU ….. 10.05  +0.38 (+3.93%)   After Hours: 10.01 -0.04 (-0.40%)
  • VZ ….. 50.38  -0.52 (-1.02%)   After Hours: 50.10 -0.28 (-0.56%)
 I. b. Sector summary from Wednesday, 5/18/2016
Sector Change +/-% (best (or least worst) to worst)
  • Financials ……………………… +1.41%
  • Technology …………………… +0.65%
  • Healthcare …………………… +0.35%
  • Industrials ………………………… -0.16%
  • Non-Cyclical Cons. Goods …….. -0.38%
  • Cyclical Cons. Goods ……………. -0.63%
  • Telecommunications Srvcs ……. -0.89%
  • Energy  ……………………. -1.24%
  • Utilities  ………………….. -1.77%
  • Basic Materials  ………….. -2.55%
 II. Bonds, and/or Currencies, and/or Commodities from Wednesday, 5/18/2016
  II. a.  USA  Bonds
  • 3 Month  0.28%  +0.01 (3.70%)
  • 6 Month  0.42%  +0.04 (10.53%)
  •  2 Year  0.89%  +0.04 (4.71%)
  •  5 Year  1.38%  +0.06 (4.55%)
  • 10 Year  1.86%  +0.08 (4.49%)
  • 30 Year  2.66%  +0.05 (1.92%)
  II. b.  Currencies
  • AUD/USD  0.7216  -0.0006 (-0.08%)
  • EUR/USD  1.1225  +0.0005 (0.05%)
  • GBP/USD  1.4580  -0.0016 (-0.11%)
  •   ———————–
  • USD/CAD  1.3050  +0.0022 (0.17%)
  • USD/CNY  6.5426  +0.0014 (0.02%)
  • USD/HKD  7.7671  +0.0013 (0.02%)
  • USD/JPY  110.0100  -0.1685 (-0.15%)
I. c.   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, 5/19/2016
 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 5/18 down  @  17,526.62   -3.36  (-0.02%)
:: Closed   (below 5/18 PP)  (below 5/19 PP)
  •   :: Pivot point (PP)   17527.02
  •   Support (s1)  17417.81       Support (s2)   17309.01
  •   Resistance (r1)   17635.82   Resistance (r2)   17745.03
  •   Simple Moving Average (Close 50):    17673.78       (uptrend  3/16)
  •   52 week performance  -4.29%  YTD performance  +0.58%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 5/18 up  @    4,739.12  +23.39  (+0.50%)
:: Closed   (above 5/17 PP)  (above 5/18 PP)
  •   :: Pivot point (PP)  4735.30
  •   Support (s1)   4708.31      Support (s2)  4677.51
  •   Resistance (r1)  4766.10    Resistance (r2)  4793.09
  •   Simple Moving Average (Close 50):  4818.51          (uptrend  3/21)
  •   52 week performance  -6.56%   YTD performance  -5.36%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 5/18 up  @   2,047.63   +0.42  (+0.02%)
:: Closed   (below 5/18 PP)  (above 5/19 PP)
  •   :: Pivot point (PP)  2047.58
  •   Support (s1)  2034.54        Support (s2)  2021.46
  •   Resistance (r1)  2060.66     Resistance (r2)  2073.70
  •   Simple Moving Average (Close 50):  2058.27         (uptrend  3/16)
  •   52 week performance  -3.68%  YTD performance  +0.18%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 5/18 down  @  1,132.61   -0.02  (-0.00%)
:: Closed   (below 5/18 PP)  (below 5/19 PP)
  •   :: Pivot point (PP)   1132.66
  •   Support (s1)  1125.43      Support (s2)  1118.24
  •   Resistance (r1)  1139.85   Resistance (r2)  1147.08
  •   Simple Moving Average (Close 50):  1138.19          (uptrend  3/16)
  •   52 week performance  -4.65%  YTD performance  +0.06%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 5/18 up  @  1,102.95   +5.28  (+0.48%)
:: Closed   (below 5/18 PP)  (above 5/19 PP)
  •   :: Pivot point (PP)  1102.54
  •   Support (s1)   1094.36      Support (s2)   1085.76
  •   Resistance (r1)  1111.14    Resistance (r2)  1119.32
  •   Simple Moving Average (Close 50):  1110.49          (uptrend  3/18)
  •   52 week performance  -12.31%   YTD performance   -2.90%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 5/18 up   @  1,204.14   +0.40  (+0.03%)
:: Closed   (below 5/18 PP)  (below 5/19 PP)
  •   :: Pivot point (PP)   1204.22
  •   Support (s1)   1196.49     Support (s2)  1188.84
  •   Resistance (r1)  1211.87   Resistance (r2)  1219.60
  •   Simple Moving Average (Close 50):   1209.23          (uptrend  3/16)
  •   52 week performance   -5.39%    YTD performance  -0.16%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 5/18 up  @   18.80   +1.21  (+6.88%)
:: Closed   (above 5/18 PP)  (above 5/19 PP)
  •   :: Pivot point (PP)    18.47
  •   Support (s1)    18.12      Support (s2)  17.44
  •   Resistance (r1)  19.15     Resistance (r2)  19.50
  •   Simple Moving Average (Close 50):  18.22          (downtrend  5/12)
  •   Simple Moving Average (Close 200)  20.57
  •   :: Close (99 days) above/below (+/-) sma200  (-1.767) (-8.591%)
  •   :: 52 week performance  -16.48%   YTD performance -17.14%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 5/18 up   @  15.95   +0.38  (+2.44%)
:: Closed  (above 5/18 PP)  (above 5/19 PP)
  •   :: Pivot point (PP)    15.76
  •   Support (s1)    15.05      Support (s2)   14.15
  •   Resistance (r1)  16.66     Resistance (r2)  17.37
  •   Simple Moving Average (Close 50):  14.73         (downtrend)
  •   :: 52 week performance   +31.71%   YTD performance  -12.41%
  •     –   –   –   –           –   –   –   –
 IV.  Index “projected” Highs and Lows for Thursday, 5/19/2016
  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 17690.43  …  17472.42
  •   Nasdaq……..  4779.60  …   4721.81
  •   S&P 500 ……  2067.18  …   2041.06
  •   Russell 1000 .  1143.47  …   1129.05
  •   Russell 2000 .  1115.23  …   1098.45
  •   Russell 3000 .  1215.74  …   1200.36
  •   CBOE TNX ……   19.33  …     18.30
  •   Volatility …    17.02  …     15.41
 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, 5/16/2016 thru Friday 5/20/2016  ——-

 

( 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

 

 (2)  Investing and Trading

 

 

 

[ More  Blogs ]

 

 

Hope the above Index Support and Resistance calculations for Thursday, 5/19/2016  help your investing and trading planning today …

Advertisements

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