Index Support and Resistance for Friday, 7/8/2016

” In my previous blogs, thanks to my daily homework, I did write that the short term calculations and resulting projections were pointing higher, not lower.   Check it out. “

The above quote from yesterday’s Index Support and Resistance for Thursday, 7/7/2016 speaks directly to today’s reaction to the jobs report.

  Yesterday, U.S. stocks and indices yoyo’d, or if you prefer see-sawed between gains and losses.  Thursday’s sector finish, had the Cyclical Cons. Goods sector, the best performing sector, up +0.43%; and, left Energy, the second worst sector, down -0.96% as the price of oil pulled back, and Utilities, down -1.65%, as the worst performing sector.  Investors and traders, apprehensive about Friday’s jobs report, also sold basic materials, down -0.75%, and telecom sector company stocks, down -0.40%.  Mr. & Ms. Fickle Markets have favored those companies all year, especially in the wake of the UK’s Brexit vote to leave the European Union Thursday 6/23/2016.
While fundamentals still matter; however, it is getting harder to find individual stocks not following the movement of their indices, and sectors.
     —————————————————-
Thursday, the Dow Jones Industrial Average (DJIA, .DJI) pulled back -22.74 points, or -0.1 percent, to 17,895.88.  For the week, the DJIA is down -53.49 points, or -0.3 percent.  Year to date, the DJIA is up +470.85 points, or +2.702 percent.
Thursday, the Standard & Poor’s 500 Index (SPX, .INX) pulled back -1.83 points, or -0.1 percent, to 2,097.90.  For the week, the S&P 500 is down -5.05 points, or -0.2 percent.
Year to date, the S&P 500 is up +53.96 points, or +2.640 percent.
Thursday, the Nasdaq Composite (NAS, .IXIC) gained +17.65 points, or +0.4 percent, to 4,876.81.  For the week, the Nasdaq is up +14.24 points, or +0.3 percent.  Year to date, the Nasdaq is down -130.60 points, or -2.608 percent.
     —————————————————-
 ** Friday’s Jobs report points of note summary:
  •  June 2016 payrolls climbed by 287,000
  •  The jobless rate rose to 4.9 percent from 4.7 percent in May.
  •  Wages advanced less than projected.
     —————————————————-
  Below you will find the Index Support and Resistance for Friday, 7/8/2016 as calculated from the changes in Index points through Thursday, 7/7/2016’s close.
     —————————————————-
Index chart 20160707

 Index performance Thursday, 7/7/2016

  • Dow Jones    17,895.88  -22.74  (-0.13%)   (chart: blue)
  • Nasdaq  …      4,876.81  +17.65  (+0.36%)   (chart: gold)
  • S&P 500  ..     2,097.90   -1.83  (-0.09%)   (chart: red )
  •   ——————————————-
  • Rus 1k (RUI)    1,161.24  -0.55 (-0.05%) 
  • Rus 2k (RUT)  1,149.76  +2.42 (+0.21%)
  • Rus 3k (RUA)  1,236.12  -0.35 (-0.03%)
  • CBOE (TNX)  ..     13.87  +0.02 (+0.14%)
  • Volatility(VIX) ..  14.41  -0.55 (-3.68%)
 I. a. Select stocks of interest, from Thursday, 7/7/2016
  • AAPL …  95.94  +0.41 (+0.43%)   Pre-market: 95.95 +0.01 (+0.01%)
  • C ……  41.29  +0.23 (+0.56%)   Pre-market: 41.49 +0.20 (+0.48%)
  • CHK ….   4.23  -0.12 (-2.76%)   Pre-market:  4.28 +0.05 (+1.18%)
  • FH …..   1.85  +0.05 (+2.78%)   After Hours: 1.81 -0.04 (-2.16%)
  • GE …..  31.82  +0.08 (0.25%)   Pre-market: 31.83 +0.01 (0.03%)
  • JCP ….   8.47  -0.07 (-0.82%)   Pre-market: 8.55 +0.08 (0.94%)
  • MPC ….  35.48  -1.02 (-2.79%)
  • MU …..  12.20  +0.47 (4.01%)   Pre-market: 12.33 +0.13 (1.07%)
  • VZ …..  55.38  -0.88 (-1.56%)
  •      select ETFs …
  • DIA …  178.79       (    %)
  • QQQ …  108.62       (    %)   Pre-market: 109.12 +0.50 (+0.46%)
  • SPY …  209.54       (    %)   Pre-market: 210.80 +1.26 (+0.60%)
  • GLD …  129.74       (    %)   Pre-market: 128.18 -1.56 (-1.20%)
  • SLV ….  18.71       (    %)   Pre-market:  18.43 -0.28 (-1.50%)
  • IWD …  101.99       (    %)
  • IWF …  100.63       (    %)
  • IWM …  114.22       (    %)   Pre-market: 115.21 +0.99 (+0.87%)
  • IWV …  123.36       (    %)
 I. b. Sector summary from Thursday, 7/7/2016
Sector Change +/-% (best (or least worst) to worst)
  • Cyclical Cons. Goods ……..  +0.43%
  • Technology ………………  +0.28%
  • Non-Cyclical Cons. Goods ….  +0.16%
  • Industrials ……………..  +0.11%
  • Healthcare ………………  -0.02%
  • Financials ………………  -0.02%
  • Telecommunications Srvcs ….  -0.40%
  • Basic Materials ………….  -0.75%
  • Energy ………………….  -0.96%
  • Utilities ……………….  -1.65%

 II. Bonds, and/or Currencies, and/or Commodities from Thursday, 7/7/2016

  II. a.  USA  Bonds
  • 3 Month  0.28%  +0.01 (3.70%)
  • 6 Month  0.35%  +0.01 (2.94%)
  •  2 Year  0.59%  0.00 (0.00%)
  •  5 Year  0.96%  -0.02 (-2.04%)
  • 10 Year  1.39%  -0.02 (-1.42%)
  • 30 Year  2.14%  -0.02 (-0.93%)
  II. b.  Currencies
  • AUD/USD .. 0.7515  +0.0022 (+0.29%)
  • EUR/USD .. 1.1065  +0.0000 (+0.00%)
  • GBP/USD .. 1.2970  +0.0056 (+0.43%)
  • USD/CAD .. 1.2997  -0.0002 (-0.01%)
  • USD/CNY .. 6.6865  +0.0058 (+0.09%)
  • USD/HKD .. 7.7579  -0.0002 (+0.00%)
  • USD/JPY  100.4155  -0.3605 (-0.36%)

II. c.    US 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.
  • –   –           –   –   –   –           –   –   –   –
  • –   –   –   –           –   –   –   –
  •      –   –   –   –           –   –   –   –           –   –   –   –

 III.  Index Support and Resistance for Friday, 7/8/2016

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 7/7 down  @  17,895.88  -22.74  (-0.13%)
:: Closed   (above 7/7 PP)  (below 7/8 PP)

  •   :: Pivot point (PP)   17899.16
  •   Support (s1)   17813.37      Support (s2)   17730.86
  •   Resistance (r1)   17981.67   Resistance (r2)   18067.46
  •   Simple Moving Average (Close 50):    17747.93       (downtrend)
  • 52 week performance  +2.17%  YTD performance  +2.70%

( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 7/7 up  @    4,876.81  +17.65  (+0.36%)
:: Closed   (above 7/7 PP)  (above 7/8 PP)

  •    :: Pivot point (PP)  4873.17
  • Support (s1)   4857.32      Support (s2)  4837.84
  • Resistance (r1)  4892.65    Resistance (r2)  4908.50
  • Simple Moving Average (Close 50):  4825.11          (downtrend)
  • 52 week performance  -0.93%   YTD performance  -2.61%

( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 7/7 down  @   2,097.90   -1.83  (-0.09%)
:: Closed   (above 7/7 PP)  (below 7/8 PP)

  •    :: Pivot point (PP)  2098.79
  • Support (s1)  2088.50        Support (s2)  2079.10
  • Resistance (r1)  2108.19     Resistance (r2)  2118.48
  • Simple Moving Average (Close 50):  2076.95         (uptick 7/6)
  • 52 week performance  +2.27%  YTD performance  +2.64%

( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed   7/7 down  @  1,161.24  -0.55 (-0.05%)
:: Closed   (above 7/7 PP)  (below 7/8 PP)

  •    :: Pivot point (PP)   1161.75
  • Support (s1)  1156.09      Support (s2)  1150.95
  • Resistance (r1)  1166.89   Resistance (r2)  1172.55
  • Simple Moving Average (Close 50):  1149.38          (uptrend  3/16)
  • 52 week performance  +1.61%  YTD performance  +2.59%

( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 7/7 up  @  1,149.76  +2.42 (+0.21%)
:: Closed   (above 7/7 PP)  (below 7/8 PP)

  •    :: Pivot point (PP)  1150.02
  • Support (s1)   1143.16      Support (s2)   1136.55
  • Resistance (r1)  1156.63    Resistance (r2)  1163.49
  • Simple Moving Average (Close 50):  1138.34         (downtick 7/7)
  • 52 week performance  -6.44%   YTD performance   +1.22%

( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 7/7 down   @  1,236.12  -0.35 (-0.03%)
:: Closed   (above 7/7 PP)  (below 7/8 PP)

  •    :: Pivot point (PP)   1236.67
  • Support (s1)   1230.60     Support (s2)  1225.09
  • Resistance (r1)  1242.18   Resistance (r2)  1248.25
  • Simple Moving Average (Close 50):   1223.54          (uptick 7/7)
  • 52 week performance   -0.52%    YTD performance  +2.49%

( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 7/7 up  @   13.87  +0.02 (+0.14%)
:: Closed   (above 7/7 PP)  (below 7/8 PP)

  •    :: Pivot point (PP)    13.93
  • Support (s1)    13.64      Support (s2)  13.41
  • Resistance (r1)  14.16     Resistance (r2)  14.45
  • Simple Moving Average (Close 50):  17.05          (downtrend)
  • Simple Moving Average (Close 200)  19.68          (downtrend)
  • :: Close (127 days) above/below (+/-) sma200  (-5.815) pts. or (-29.540%)
  • :: 52 week performance  -39.72%   YTD performance  -38.87%

( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 7/7 down   @  14.41  -0.55 (-3.68%)
:: Closed  (below 7/7 PP)  (below 7/8 PP)

  •    :: Pivot point (PP)    15.02
  • Support (s1)    14.07      Support (s2)   13.37
  • Resistance (r1)  15.72     Resistance (r2)  16.67
  • Simple Moving Average (Close 50):  16.20         (uptrend)
  • :: 52 week performance   -12.30%   YTD performance  -18.95%
  • –   –   –   –           –   –   –   –
IV.  Index “projected” Highs and Lows for Friday, 7/8/2016
  •  Index,  :: Projected High,  Projected Low
  • Dow Jones …. 17940.42  …  17772.12
  • Nasdaq……..  4900.58  …   4865.25
  • S&P 500 ……  2103.49  …   2083.80
  • Russell 1000 .  1164.32  …   1153.52
  • Russell 2000 .  1160.06  …   1146.59
  • Russell 3000 .  1239.43  …   1227.85
  • CBOE TNX ……   14.05  …     13.53
  • Volatility …    15.37  …     13.72
  •  
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)   1275.90 ..    943.10 ..  (1135.89)  n/c
  • Rus 3k (RUA)   1271.96 ..   1056.45 ..  (1206.10)  n/c
  • CBOE (TNX) ….. 24.61 …    13.36 …   (22.69)  n/c
  • Volatility(VIX)  53.29 …    10.88 …   (18.21)  n/c
  • —     —     —     —     —     —
  • n/c* = no change  c-* = changed lower

 

 

-–  Monday, 7/4/2016   thru    Friday 7/8/2016  ——-

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