Index Support and Resistance for Tuesday, 6/28/2016

 

  US stocks, ETFs, and indices closed sharply lower on Monday, but not as bad as on Friday,  as investors and traders, having had the whole weekend to crunch the numbers, still struggled to wrap their heads around the economic implications of Britain’s vote to leave the European Union.  The talking heads aren’t helping.  For the UK people, there appeared to be two primary issues, the money they were paying for membership in the EU, and the immigration issues.  It appears both sides, stay/leave, leading up to the vote, were keyed to emotionally charged rhetoric, with little to no thoughts to the economics of staying in the EU versus the costs, even penalties, for exiting the EU.
  The second day sell-off followed the global market’s plunge on Friday, a day after the United Kingdom’s “Brexit” referendum vote put the UK on course to exit the EU.  The British pound fell further as traders expected the British economy to suffer because of the “leave the EU” vote.  Also on Monday, Standard & Poor’s downgraded the UK’s top-shelf credit rating.
  IMHO, the United Kingdom’s peoples, and economy will come out of the EU exit vote okay.   I can’t say the same for the EU … unless the EU gets its act together, addresses the issues that brought the UK peoples to vote for an exit, and reaches a consensus, agreement, and vote on an EU Constitution.

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  On Monday, the Dow Jones Industrial Average (DJIA, .DJI) pulled back -260.51 points, or -1.5 percent, to 17,140.24.  Year to date, the DJIA is down -284.79 points, or -1.63 percent.
  On Monday, the Standard & Poor’s 500 (SPX, .INX) pulled back -36.87 points, or -1.8 percent, to 2,000.54.  Year to date, the S&P 500 is down -43.40 points or -2.1 percent.
  On Monday, the Nasdaq Composite (NASDAQ, .IXIC) pulled back -113.54 points, or -2.4 percent, to 4,594.44.  Year to date, the Nasdaq is down -412.97 points, or -8.3 percent.

———————————–

  Only three trading days left in June 2016.   June 30th is the last trading day of the second calendar quarter of 2016 (q2’2016), and also the last trading day of the first half of 2016 (h1’2016).  Funds that are reporting to their share holders about their performance in q2’2016, and thru h1’2016, will be looking to window dressing,  a process whereby they dump losers and buy winners.  The Russell Indices Reconstitution means funds tracking the indices have to dump the “deleted” stocks and buy the “added” stocks.    So, IMHO, Brexit will get shifted to the back burner in favor of these more pressing issues.
  Below you will find the Index Support and Resistance for Tuesday, 6/28/2016 as calculated from the changes in Index points through Monday, 6/27/2016’s close.
———————————–
Index chart 20160627

 Index performance Monday, 6/27/2016

  • Dow Jones     17,140.24  -260.51  (-1.50%)    (chart: blue)
  • Nasdaq …       4,594.44  -113.54  (-2.41%)    (chart: gold)
  • S&P 500 ..      2,000.54   -36.87  (-1.81%)    (chart: red )
  •   ——————————————-
  • Rus 1k (RUI)   1,106.46  -21.58  (-1.91%)
  • Rus 2k (RUT)   1,089.65  -37.89  (-3.36%)
  • Rus 3k (RUA)   1,177.35  -24.28  (-2.02%)
  • CBOE (TNX)        14.60   -1.19  (-7.54%)
  • Volatility(VIX)   23.85   -1.91  (-7.415%)
 I. a. Select stocks of interest, from Monday, 6/27/2016
  • AAPL …  92.04  -1.36 (-1.46%)   Pre-market: 93.01 +0.97 (1.05%)
  • C ……  38.48  -1.82 (-4.52%)   Pre-market: 39.33 +0.85 (2.21%)
  • CHK ….   4.06  -0.31 (-7.09%)   Pre-market: 4.29 +0.23 (5.67%)
  • FH …..   1.95  -0.10 (-4.88%)   After Hours: 1.97 +0.02 (1.03%)
  • GE …..  29.32  -0.50 (-1.68%)   Pre-market: 29.61 +0.29 (0.99%)
  • JCP ….   8.43  -0.03 (-0.35%)   Pre-market: 8.64 +0.21 (2.49%)
  • MPC ….  32.93  -2.40 (-6.79%)   Pre-market: 33.12 +0.19 (0.58%)
  • MU …..  12.23  -0.98 (-7.42%)   Pre-market: 12.58 +0.35 (2.86%)
  • VZ …..  54.74  +0.31 (+0.57%)   Pre-market: 55.00 +0.26 (0.47%)
  •      select ETFs …
  • DIA … 171.17  0.00 (0.00%)   Pre-market: 172.67 +1.50 (+0.88%)
  • QQQ … 102.22  0.00 (0.00%)   Pre-market: 103.17 +0.95 (+0.93%)
  • SPY … 199.53  0.00 (0.00%)   Pre-market: 201.29 +1.76 (+0.88%)
  • GLD … 126.68  0.00 (0.00%)   Pre-market: 125.46 -1.22 (-0.96%)
  • SLV …. 16.87  0.00 (0.00%)
  • IWD …  98.04  0.00 (0.00%)   Pre-market:  98.86 +0.82 (+0.84%)
  • IWF …  95.95  0.00 (0.00%)
  • IWM … 108.71  0.00 (0.00%)   Pre-market: 109.44 +0.73 (0.67%)
  • IWV … 117.99  0.00 (0.00%)
 I. b. Sector summary from Monday, 6/27/2016
Sector Change +/-% (best (or least worst) to worst)
  • Utilities …………………………. +0.41%    
  • Telecommunications Srvcs …. +0.11%  
  • Non-Cyclical Cons. Goods ….. +0.03% 
  • Healthcare ……………………… -1.11% 
  • Technology …………………….. -2.24%
  • Industrials ……………………… -2.26%
  • Cyclical Cons. Goods …………. -2.29%
  • Energy  ……………………………-2.51%
  • Basic Materials  ………………… -2.82%
  • Financials ……………………….. -3.15%  

 II. Bonds, and/or Currencies, and/or Commodities from Monday, 6/27/2016

  II. a.  USA  Bonds
  • 3 Month  0.24%  +0.01 (+4.35%)
  • 6 Month  0.33%  -0.01 (-2.94%)
  •  2 Year  0.59%  +0.01 (+1.72%)
  •  5 Year  0.98%  -0.02 (-2.00%)
  • 10 Year  1.44%  -0.04 (-2.70%)
  • 30 Year  2.27%  -0.04 (-1.73%)
  II. b.  Currencies
  • AUD/USD .. 0.7398  +0.0043 (+0.58%)
  • EUR/USD .. 1.1082  +0.0069 (+0.63%)
  • GBP/USD .. 1.3345  +0.0122 (+0.92%)
  • USD/CAD .. 1.3033  -0.0034 (-0.26%)
  • USD/CNY .. 6.6463  -0.0058 (-0.09%)
  • USD/HKD .. 7.7587  -0.0014 (-0.02%)
  • USD/JPY  102.3125  +0.5030 (+0.49%)
 II. cUS Energy Information Administration   (US EIA)

For both Bulls and Bears:

current XLE quote (Reuters) and more

Related previous XLE analysis:

  II. e.    Federal Open Market Committee (FOMC)
 Remaining meetings:   ( FOMC  Calendar & info )
  • July 26-27  ( IMHO, no rate increase expected )
  • September 20-21*
  • November 1-2
  • December 13-14*
* Meeting associated with a Summary of Economic Projections and a press conference by the Fed Chairperson  Ms. J. Yellen.

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–   –   –   –           –   –   –   –

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 III.  Index Support and Resistance for Tuesday, 6/28/2016

 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 6/27 down  @  17,140.24  -260.51  (-1.50%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)   17186.18
  •   Support (s1)  17017.14       Support (s2)   16894.05
  •   Resistance (r1)   17309.27   Resistance (r2)   17478.31
  •   Simple Moving Average (Close 50):    17777.30       (uptrend  3/16)
  •   52 week performance  -4.49%  YTD performance  -1.63%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 6/27 down  @    4,594.44  -113.54  (-2.41%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)  4611.24
  •   Support (s1)   4557.45      Support (s2) 4520.45
  •   Resistance (r1)  4648.24    Resistance (r2)  4702.03
  •   Simple Moving Average (Close 50):  4840.09          (downtrend 6/22)
  •   52 week performance  -7.34%   YTD performance  -8.25%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 6/27 down  @   2,000.54   -36.87  (-1.81%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)  2007.89
  •   Support (s1)  1984.33        Support (s2)  1968.12
  •   Resistance (r1)  2024.10     Resistance (r2)  2047.66
  •   Simple Moving Average (Close 50):  2078.26         (uptrend  3/16)
  •   52 week performance  -2.78%  YTD performance  -2.12%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 6/27 down  @  1,106.46  -21.58  (-1.91%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)   1099.78
  •   Support (s1)  1075.75      Support (s2)  1061.85
  •   Resistance (r1)  1113.68   Resistance (r2)  1137.71
  •   Simple Moving Average (Close 50):  1150.11          (uptrend  3/16)
  •   52 week performance  -7.17%  YTD performance  -3.73%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 6/27 down  @  1,089.65  -37.89  (-3.36%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)  1099.78
  •   Support (s1)   1075.75      Support (s2)   1061.85
  •   Resistance (r1)  1113.68    Resistance (r2)  1137.71
  •   Simple Moving Average (Close 50):  1138.52          (down tick 6/24)
  •   52 week performance  -14.86%   YTD performance   -4.07%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 6/27 down   @  1,177.35  -24.28  (-2.02%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)   1182.89
  •   Support (s1)   1166.82     Support (s2)  1156.28
  •   Resistance (r1)  1193.43   Resistance (r2)  1209.50
  •   Simple Moving Average (Close 50):   1225.24          (down tick 6/27)
  •   52 week performance   -4.75%    YTD performance  -2.38%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 6/27 down  @   14.60   -1.19  (-7.54%)
:: Closed   (below 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)    14.67
  •   Support (s1)    14.43      Support (s2)  14.27
  •   Resistance (r1)  14.83     Resistance (r2)  15.07
  •   Simple Moving Average (Close 50):  17.62          (downtrend  5/12)
  •   Simple Moving Average (Close 200)  19.96
  •   :: Close (120 days) above/below (+/-) sma200  (-5.360) pts. or (-26.852%)
  •   :: 52 week performance  -37.37%   YTD performance  -35.65%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 6/27 down   @  23.85   -1.91  (-7.415%)
:: Closed  (above 6/27 PP)  (below 6/28 PP)
  •   :: Pivot point (PP)    24.50
  •   Support (s1)    22.28      Support (s2)   20.71
  •   Resistance (r1)  26.07     Resistance (r2)  28.29
  •   Simple Moving Average (Close 50):  15.88         (uptrend 6/8)
  •   :: 52 week performance   +30.83%   YTD performance  +30.97%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Tuesday, 6/28/2016

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 17247.73  …  16955.60
  •   Nasdaq……..  4629.74  …   4538.95
  •   S&P 500 ……  2016.00  …   1976.23
  •   Russell 1000 .  1106.73  …   1068.80
  •   Russell 2000 .  1106.73  …   1068.80
  •   Russell 3000 .  1188.16  …   1161.55
  •   CBOE TNX ……   14.75  …     14.35
  •   Volatility …    25.29  …     21.50

 

 V.  Index: 52week High,  52week Low, (Close 12/31/15)

  • Dow Jones ..  18167.63 ..  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)   1188.48 ..    995.55 ..  (1069.65)  n/c
  • Rus 2k (RUT)   1287.10 c-    943.10 ..  (1135.89)  c-*
  • Rus 3k (RUA)   1271.96 ..   1056.45 ..  (1206.10)  n/c
  • CBOE (TNX) ….. 24.70 c-.    14.50  c-   (22.69)  c-*
  • Volatility(VIX)  53.29 …    10.88  ..   (18.21)  n/c
  •    —     —     —     —     —     —
  •     n/c* = no change  c-* = changed lower
—–  Monday, 6/27/2016   thru    Friday 7/1/2016  ——-

Hope the above Index Support and Resistance calculations for Tuesday, 6/28/2016  help your investing and trading planning today …

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