Index Support and Resistance for Friday, 6/3/2016

 

  Below you will find the Index Support and Resistance for Friday, 6/3/2016 as calculated from the changes in Index points through Thursday, 6/2/2016’s close.
On a day like today, it’s not too soon to be running thru the various market impacting scenarios, like OPEC, the FED, Brexit, China, India (monsoon season), and more … between now and Quadruple Witching Options/Futures expiry on 3rd Friday of the month 6/17/2016. 
  •   OPEC:  Here we go, another OPEC meeting that failed to agree on output targets.  However, Saudi Arabia promised not to flood the market with more crude oil even as Iran insisted on raising production to regain market share lost during years of sanctions.   Seasonal dynamics are benefitting the Energy Sector stocks, besides rising crude oil prices we’re also seeing refined petroleum products demand like gasoline consumption with strong trend growth in the U.S.A., India, and even China.
  •    The U.S. Federal Reserve (the FED)  First, the May jobs report showed creation of 38,000 jobs,  … not even close to expectations.  Per Chicago Fed President Charles Evans, … maybe two data dependent rate hikes in 2016, and “Timing’s not really that critical for my viewpoint, as long as by the end of this year we’re at just a little under 1 percent.”  ( Gee, look at what I’ve been suggesting in these blogs …  2 hikes &  1 percent.  )
  •   Brexit    June 23, 2016 … the U.K. votes on whether to leave the European Union  … for the UK and the EU  … a very critical decision.  Polls show those favoring a   Brexit  with a 3 percent bigger margin over those favoring staying in the EU.  So, flip a coin.

    For this Memorial Day holiday shortened week, thru Friday, 6/3/2016:

   DJIA Companies Support and Resistance for Tuesday, 5/31/2016
  ===============================================

Index chart 20160602
 Index performance Thursday, 6/2/2016

  • Dow Jones    17,838.56  +48.89  (+0.27%)    (chart: blue)
  • Nasdaq …       4,971.36  +19.11  (+0.39%)    (chart: gold)
  • S&P 500  …    2,105.26   +5.93  (+0.28%)    (chart:  red)
  •   ——————————————-
  • Rus 1k (RUI)     1,166.51   +3.86  (+0.33%)
  • Rus 2k (RUT)   1,170.58   +7.54  (+0.65%)
  • Rus 3k (RUA)   1,242.97   +4.41  (+0.36%)
  • CBOE (TNX)            18.11   -0.35  (-1.90%)
  • Volatility(VIX)      13.63   -0.57  (-4.01%)
 I. a. Select stocks of interest, from Thursday, 6/2/2016
  • AAPL … 97.72  -0.74 (-0.75%)   After Hours: 97.79 +0.07 (+0.07%)
  • C …… 46.96  +0.02 (+0.04%)
  • CHK ….  4.24  -0.13 (-3.09%)   After Hours:  4.28 +0.04 (+1.06%)
  • FH …..  1.80  -0.08 (-4.26%)
  • GE ….. 30.03  -0.08 (-0.25%)   After Hours: 30.11 +0.08 (+0.25%)
  • JCP ….  8.36  +0.58 (+7.46%)   After Hours:  8.36 +0.00 (+0.00%)
  • MPC …. 36.68  +0.24 (+0.66%)   After Hours: 36.72 +0.04 (+0.11%)
  • MU ….. 13.11  +0.02 (+0.15%)   After Hours: 13.10 -0.01 (-0.08%)
  • VZ ….. 50.77  +0.34 (+0.67%)   After Hours: 50.66 -0.11 (-0.22%)
 I. b. Sector summary from Thursday, 6/2/2016
Sector Change +/-% (best (or least worst) to worst)
  • Healthcare …………………………… +1.05%
  • Non-Cyclical Cons. Goods ………. +0.49% 
  • Cyclical Cons. Goods …………….. +0.43%  
  • Basic Materials …………………….. +0.38%
  • Telecommunications Srvcs ………. +0.25%
  • Financials …………………………… +0.23% 
  • Industrials …………………………. +0.19%  
  • Energy …………………………….. +0.09%
  • Technology ……………………… +0.07% 
  • Utilities ………………. -0.02% 
 II. Bonds, and/or Currencies, and/or Commodities from Thursday, 6/2/2016
  II. a.  USA  Bonds
  • 3 Month  0.28%  -0.01 (-3.45%)
  • 6 Month  0.46%  0.00 (0.00%)
  •   2 Year  0.88%  -0.01 (-1.12%)
  •   5 Year  1.35%  -0.01 (-0.74%)
  • 10 Year  1.80%  -0.02 (-1.10%)
  • 30 Year  2.58%  -0.02 (-0.77%)
  II. b.  Currencies
  • AUD/USD  0.7238  +0.0010 (0.13%)
  • EUR/USD  1.1150  -0.0001 (-0.01%)
  • GBP/USD  1.4407  +0.0002 (0.01%)
  • USD/CAD  1.3094  -0.0004 (-0.03%)
  • USD/CNY  6.5855  +0.0014 (0.02%)
  • USD/HKD  7.7711  +0.0006 (0.01%)
  • USD/JPY  108.8950  +0.0250 (0.02%)
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 Friday, 6/3/2016 
 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 6/2 up  @  17,838.56  +48.89  (+0.27%)
:: Closed   (above 6/2 PP)  (above 6/3 PP)
  •   :: Pivot point (PP)   17793.56
  • Support (s1)  17748.55       Support (s2)   17658.55
  • Resistance (r1)   17883.56   Resistance (r2)   17928.57
  • Simple Moving Average (Close 50):    17749.74       (uptrend  3/16)
  • 52 week performance  -1.32%  YTD performance  +2.37%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 6/2 up  @    4,971.36  +19.11  (+0.39%)
:: Closed   (above 6/2 PP)  (above 6/3 PP)
  •   :: Pivot point (PP)  4955.65
  • Support (s1)   4939.94      Support (s2)  4908.52
  • Resistance (r1)  4987.07    Resistance (r2)  5002.78
  • Simple Moving Average (Close 50):  4842.14          (uptrend  3/21)
  • 52 week performance  -1.73%   YTD performance  -0.72%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 6/2 up  @   2,105.26   +5.93  (+0.28%)
:: Closed   (above 6/2 PP)  (above 6/3 PP)
  •   :: Pivot point (PP)  2099.70
  • Support (s1)  2094.15        Support (s2)  2083.03
  • Resistance (r1)  2110.82     Resistance (r2)  2116.37
  • Simple Moving Average (Close 50):  2069.12         (uptrend  3/16)
  • 52 week performance  +0.45%  YTD performance  +3.00%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 6/2 up  @  1,166.51   +3.86  (+0.33%)
:: Closed   (above 6/2 PP)  (above 6/3 PP)
  •   :: Pivot point (PP)   1163.30
  • Support (s1)  1160.09      Support (s2)  1153.67
  • Resistance (r1)  1169.72   Resistance (r2)  1172.93
  • Simple Moving Average (Close 50):  1144.64          (uptrend  3/16)
  • 52 week performance  -1.21%  YTD performance  +3.06%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 6/2 up  @  1,170.58   +7.54  (+0.65%)
:: Closed   (above 6/2 PP)  (above 6/3 PP)
  •   :: Pivot point (PP)  1166.90
  • Support (s1)   1163.04      Support (s2)   1155.49
  • Resistance (r1)  1174.45    Resistance (r2)  1178.31
  • Simple Moving Average (Close 50):  1121.19          (uptrend  3/18)
  • 52 week performance  -6.45%   YTD performance   +3.05%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 6/2 up   @  1,242.97   +4.41  (+0.36%)
:: Closed   (above 6/2 PP)  (above 6/3 PP)
  •   :: Pivot point (PP)   1239.51
  • Support (s1)   1236.06     Support (s2)  1229.14
  • Resistance (r1)  1246.43   Resistance (r2)  1249.88
  • Simple Moving Average (Close 50):   1216.55          (uptrend  3/16)
  • 52 week performance   -0.84%    YTD performance  +3.06%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 6/2 down  @   18.11   -0.35  (-1.90%)
:: Closed   (below 6/2 PP)  (below 6/3 PP)
  •   :: Pivot point (PP)    18.16
  • Support (s1)    17.92      Support (s2)  17.72
  • Resistance (r1)  18.36     Resistance (r2)  18.60
  • Simple Moving Average (Close 50):  18.10          (downtrend  5/12)
  • Simple Moving Average (Close 200)  20.39
  • :: Close (103 days) above/below (+/-) sma200  (-2.280) pts, or (-11.182%)
  • :: 52 week performance  -21.50%   YTD performance  -20.19%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 6/2 down   @  13.63   -0.57  (-4.01%)
:: Closed  (below 6/2 PP)  (below 6/3 PP)
  •   :: Pivot point (PP)    14.06
  • Support (s1)    13.19      Support (s2)   12.76
  • Resistance (r1)  14.49     Resistance (r2)  15.36
  • Simple Moving Average (Close 50):  14.52         (downtrend)
  • :: 52 week performance   -4.08%   YTD performance  -25.15%
  • –   –   –   –           –   –   –   –
 
IV.  Index “projected” Highs and Lows for Friday, 6/3/2016 
 
  • Index,  :: Projected High,  Projected Low
  • Dow Jones ….. 17906.07  …  17771.06
  • Nasdaq………  4994.93  …   4947.80
  • S&P 500 …….  2113.60  …   2096.93
  • Russell 1000 ..  1171.33  …   1161.70
  • Russell 2000 ..  1176.38  …   1164.97
  • Russell 3000 ..  1248.16  …   1237.79
  • CBOE TNX …….   18.26  …     17.82
  • Volatility …..   14.28  …     12.98
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 Friday, 6/3/2016 help your investing and trading planning today …

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