Index Support and Resistance for Tuesday, 5/31/2016

 

  Below you will find the Index Support and Resistance for Tuesday, 5/31/2016 as calculated from the changes in Index points through Friday, 5/27/2016’s close. 
The USA markets will be closed Monday for the Memorial Day holiday.  Tuesday is the last trading day in May 2016.  June is up next and lookout Mr. & Ms. Fickle Markets …
  Mr. & Ms. Fickle Markets are dealing with a wall of worry …
  •   (1) Crude prices, Saudi Arabia & OPEC, and US Energy Sector stocks
  •     (1.a) vs. crude in storage a.k.a. “supply”
  •     (1.b) vs. crude production and supply disruptions
  •     (1.c) should be looking at unconfirmed production reports
  •   (2) the US Federal Reserve’s potential to raise interests 0.25 basis points in the  coming months … like June or July … and thereafter
  •   (3) China 
  •     (3.a) China’s growth, or lack thereof
  •     (3.b) China’s QE accommodations and currency manipulation
  •     (3.c) China’s island building to bolster territory grab
  •     (3.d) new S&P China 500 index and ETF is NOT w/out RISK  (see below)
  •   (4) Quadruple Witching Options/Futures expiry on 3rd Friday of the month 6/17/2016.…. and a whole lot more …..
  Heads UP!  The S&P Dow Jones Indices intends to put a Standard & Poor’s 500 list of China’s largest market cap stocks together as an index which will be available to investors through European funds.  China’s Alibaba (BABA) which IPO’d in the USA, will be a member of the new index despite the US government’s questions regarding Alibaba financial accounting, reporting, and reporting on investments/ownership/potential liabilites in other companies.  Alibaba does state it is cooperating with the investigation.  There are also plans for an exchange traded fund (ETF) based on the new China index.
  There are two fundamentals and sentiment China RISK points I would urge caution on.
The first RISK point suggests investors and traders, even day traders, given the repeated questions and issues with Chinese companies financial accounting, NEED to do your OWN in depth, top to bottom, then bottoms up, fundamentals homework, and know your OWN tolerance for RISK.  If anything doesn’t add up … RED FLAG it.
The second China RISK point, and RISK RED FLAG, is Chinese government ownership of a company’s stock, like China’s reported 30 percent ownership of ZTE, should be a red flag that the Chinese government may feel entitled to ask that company to violate rules and regulations of other countries … like selling restricted USA manufactured components to Iran, and then hide that act behind “Chinese National Security” with threats of charges of “Treason”, including death for disclosure.
Issues with fundamentals can take down the problem company, as well as competitors, the industry, and possibly even the sector … until the issues work themselves out to the markets’ satisfaction … which could be a long time.  Issues with financial accounting shenanigans lead to a lack of trust which can take down the whole market as sentiment drops thru the floor.   Whether in this USA market, or global markets, Capital Preservation, especially since its YOUR MONEY, should be Priority One.   Limit your exposure to Chinese financial accounting meltdowns by limiting your portfolio assets exposure to 1 to 3 percent.   But, all the Fundamental, Technical, and Sentiment analysis won’t help if news comes to light China was/is blocking stock holder need to know disclosure of detrimental company information that other governments may feel forced to legally act upon.   GLTA
   Before the US Securities and Exchange Commission (SEC) allows trading or especially any further US Markets IPO’s of Chinese stocks, the SEC should require, under penalties, including perjury, that any Chinese company seeking to trade on US exchanges is, or isn’t withholding, under “Chinese National Security” rules,  USA and SEC required disclosure of detrimental information,  stockholder impacting,  such as previous, and current, or future, violations of US laws, rules, and regulations.  Any foreign, not just  Chinese, companies seeking a license to sell products in the USA should be subject to the same disclosure requirements in applications for import and sales permits.
Index chart 201605127

 Index performance Friday, 5/27/2016

  • Dow Jones    17,873.22  +44.93  (+0.25%)    (chart: blue)
  • Nasdaq  …      4,933.50  +31.74  (+0.65%)    (chart: gold)
  • S&P 500 …    2,099.06   +8.96  (+0.43%)    (chart: red )
  •   ——————————————-
  • Rus 1k (RUI)  1,161.70   +5.14  (+0.44%)
  • Rus 2k (RUT)  1,150.45  +10.70  (+0.94%)
  • Rus 3k (RUA)  1,236.62   +5.92  (+0.48%)
  • CBOE (TNX)       18.51   +0.28  (+1.54%)
  • Volatility(VIX)  13.12   -0.31  (-2.31%)
 I. a. Select stocks of interest, from Friday, 5/27/2016
  • AAPL … 100.35  -0.06 (-0.06%)
  • C ………  46.58  +0.47 (+1.02%) 
  • CHK ……   4.16  -0.06 (-1.54%)
  • FH ……..   1.84  -0.06 (-3.16%)
  • GE …….  30.12  +0.10 (+0.33%) 
  • JCP ……   7.86  +0.20 (+2.61%)
  • MPC ….  35.11  +0.56 (+1.62%)
  • MU …..  12.31  +0.36 (+3.01%)
  • VZ …..  50.62  +0.46 (+0.92%)
 I. b. Sector summary from Friday, 5/27/2016
Sector Change +/-% (best (or least worst) to worst)
  • Technology ………………………… +0.51%
  • Non-Cyclical Cons. Goods ……… +0.49%
  • Financials ………………………… +0.47%
  • Cyclical Cons. Goods …………. +0.45%
  • Industrials …………………… +0.40%
  • Healthcare ………………….. +0.36%
  • Utilities  ………………….. +0.22%
  • Telecommunications Srvcs ……… +0.07%
  • Energy ………………….. -0.11%
  • Basic Materials ………….. -0.54%
 II. Bonds, and/or Currencies, and/or Commodities from Friday, 5/27/2016
  II. a.  USA  Bonds
  • 3 Month  0.30%  0.00 (0.00%)
  • 6 Month  0.46%  +0.02 (4.55%)
  •  2 Year  0.91%  +0.04 (4.60%)
  •  5 Year  1.38%  +0.03 (2.22%)
  • 10 Year  1.85%  +0.02 (1.09%)
  • 30 Year  2.65%  +0.01 (0.38%)
  II. b.  Currencies
  • AUD/USD  0.7185  0.0000 (0.00%)
  • EUR/USD  1.1116  0.0000 (0.00%)
  • GBP/USD  1.4622  0.0000 (0.00%)
  • USD/CAD  1.3028  0.0000 (0.00%)
  • USD/CNY  6.5658  0.0000 (0.00%)
  • USD/HKD  7.7668  0.0000 (0.00%)
  • USD/JPY  110.2300  0.0000 (0.00%)

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

For both Bulls and Bears:

current XLE quote (Reuters) and more

Related previous XLE analysis:

 III.  Index Support and Resistance for Tuesday, 5/31/2016

 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.
     –   –   –   –           –   –   –   –
djia pp20160527

DJIA Daily Pivot Point (PP) chart thru 5/27

( 1) For the DJIA (INDEX DJX: .DJI) (ETF: DIA)
Closed 5/27 up  @  17,873.22  +44.93  (+0.25%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)   17857.06
  •   Support (s1)  17840.89       Support (s2)   17808.57
  •   Resistance (r1)   17889.38   Resistance (r2)   17905.55
  •   Simple Moving Average (Close 50):    17737.61       (uptrend  3/16)
  •   52 week performance  -0.76%  YTD performance  +2.57%
NAS pp20160527

Nasdaq Comp Daily Pivot Point (PP) chart thru 5/27

( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 5/27 up  @    4,933.50  +31.74  (+0.65%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)  4923.17
  •   Support (s1)   4912.83      Support (s2) 4892.17
  •   Resistance (r1)  4943.83    Resistance (r2)  4954.17
  •   Simple Moving Average (Close 50):  4833.23          (uptrend  3/21)
  •   52 week performance  -2.94%   YTD performance  -1.48%
SPX pp20160527

S&P 500 Daily Pivot Point (PP) chart thru 5/27

( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 5/27 up  @   2,099.06   +8.96  (+0.43%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)  2096.06
  •   Support (s1)  2093.06        Support (s2)  2087.06
  •   Resistance (r1)  2102.06     Resistance (r2)  2105.06
  •   Simple Moving Average (Close 50):  2066.10         (uptrend  3/16)
  •   52 week performance  -0.60%  YTD performance  +2.70%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 5/27 up  @  1,161.70   +5.14  (+0.44%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)   1160.02
  •   Support (s1)  1158.33      Support (s2)  1154.97
  •   Resistance (r1)  1163.38   Resistance (r2)  1165.07
  •   Simple Moving Average (Close 50):  1142.82          (uptrend  3/16)
  •   52 week performance  -1.27%  YTD performance  +2.63%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 5/27 up  @  1,150.45  +10.70  (+0.94%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)  1146.96
  •   Support (s1)   1143.47      Support (s2)   1136.49
  •   Resistance (r1)  1153.94    Resistance (r2)  1157.43
  •   Simple Moving Average (Close 50):  1117.37          (uptrend  3/18)
  •   52 week performance  -7.94%   YTD performance   +1.28%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 5/27 up   @  1,236.62   +5.92  (+0.48%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)   1234.68
  •   Support (s1)   1232.74     Support (s2)  1228.86
  •   Resistance (r1)  1238.56   Resistance (r2)  1240.50
  •   Simple Moving Average (Close 50):   1214.44          (uptrend  3/16)
  •   52 week performance   -1.93%    YTD performance  +2.53%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 5/27 up  @   18.51   +0.28  (+1.54%)
:: Closed   (above 5/27 PP)  (above 5/31 PP)
  •   :: Pivot point (PP)    18.44
  •   Support (s1)    18.32      Support (s2)  18.13
  •   Resistance (r1)  18.63     Resistance (r2)  18.75
  •   Simple Moving Average (Close 50):  18.13          (downtrend  5/12)
  •   Simple Moving Average (Close 200)  20.44
  •   :: Close (100 days) above/below (+/) sma200  (-1.928) (-9.435%)
  •   :: 52 week performance  -15.56%   YTD performance -18.42%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 5/27 down   @  13.12   -0.31  (-2.31%)
:: Closed  (below 5/27 PP)  (below 5/31 PP)
  •   :: Pivot point (PP)    13.31
  •   Support (s1)    12.85      Support (s2)   12.59
  •   Resistance (r1)  13.57     Resistance (r2)  14.03
  •   Simple Moving Average (Close 50):  14.54         (downtrend)
  •   :: 52 week performance   -7.87%   YTD performance  -27.95%
  •     –   –   –   –           –   –   –   –
 IV.  Index “projected” Highs and Lows for Tuesday, 5/31/2016
  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 17897.47  …  17848.98
  •   Nasdaq……..  4949.00  …   4918.00
  •   S&P 500 ……  2103.56  …   2094.56
  •   Russell 1000 .  1164.23  …   1159.18
  •   Russell 2000 .  1155.69  …   1145.22
  •   Russell 3000 .  1239.53  …   1233.71
  •   CBOE TNX ……   18.69  …     18.38
  •   Volatility …    13.44  …     12.72
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • Dow Jones ..  18188.81 ..  15370.33 .. (17425.03)  n/c
  • Nasdaq …..   5231.94 ..   4209.76 ..  (5007.41)  n/c
  • S&P 500 ….   2132.82 ..   1810.10 ..  (2043.94)  n/c
  •   ——————————————-
  • Rus 1k (RUI)   1189.88 ..    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  c-* = changed lower
—–  Monday, 5/30/2016 thru Friday 6/3/2016  ——-

 

( 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

    It’s Black Friday for OPEC

 

[ More  Blogs ]

 

Hope the above Index Support and Resistance calculations for Tuesday, 5/31/2016  help your investing and trading planning today …

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