Index Support and Resistance for Monday, 7/18/2016

Turkey witnessed repressive military coups in 1960, 1971 and 1980.  Friday, we have reports of a new military coup against the democratically elected Turkish government, an ally of the USA;  but, Turkish Army statements come with arguments and promises that the military is defending the Turkey constitution.   There also appear to be other military interventions in the governance of Turkey … that didn’t get labeled “coup.”

  •   The Turkish coup of May 27th,  1960
  •   The Turkish coup of March 12th,  1971
  •   The Turkish coup of September 12th,  1980

 

Turkey’s problems seem to be its porous borders with Syria,  trouble maker Iran, and the Kurds of southern Turkey and northern Iraq.   ISIS and/or extremist Muslims are indiscriminately targeting unarmed, defenseless, men, women, and children.  

 

The biggest question remains, which is why aren’t the Muslim clerics speaking out against the extremist atrocities and issuing fatwahs to stop the attacks, deprive the attackers of being labeled, or celebrated as  martyrs, et cetera? 

My homework, and yours, is to look back at stock market data to see what effect/affect coups in Turkey have had on global and USA markets, indices, and stocks.  Below (EOD) refers to End of Day data from my databases, spreadsheets, and/or charts.

 I.  This is what I pulled from my DJIA 1980 (EOD) spreadsheets

  • 9/2/1980, 932.59 944.80 928.16 940.78 352900
  • 9/3/1980, 940.78 955.20 939.85 953.16 523700
  • 9/4/1980, 953.16 964.85 942.92 948.81 590300
  • 9/5/1980, 948.81 950.68 937.03 940.96 379900
  • 9/8/1980, 940.96 945.48 925.34 928.58 420500
  • 9/9/1980, 928.58 936.09 919.03 934.73 444600
  • 9/10/1980, 934.73 946.16 930.63 938.48 514300
  • 9/11/1980, 938.48 947.78 934.39 941.30 447700
  • 9/12/1980, 941.30 945.48 932.51 936.52 471800  *Turkish coup
  • 9/15/1980, 936.52 942.58 926.96 937.63 446300
  • 9/16/1980, 937.63 953.07 935.32 945.90 572900
  • 9/17/1980, 945.90 966.98 943.69 961.26 639900
  • 9/18/1980, 961.26 972.01 950.26 956.48 633900
  • 9/19/1980, 956.48 972.70 950.77 963.74 537800
  • 9/22/1980, 963.74 977.05 955.29 974.57 531400
  • 9/23/1980, 974.57 980.72 957.94 962.03 643900
  • 9/24/1980, 962.03 972.78 952.73 964.76 568600
  • 9/25/1980, 964.76 972.61 953.07 955.97 495100
  • 9/26/1980, 952.65 952.65 934.98 940.10 494600
  • 9/29/1980, 934.81 934.81 918.00 921.93 464100
  • 9/30/1980, 921.93 937.20 921.59 932.42 402900
  • 10/1/1980, 932.42 945.14 923.04 939.42 487200
  • 10/2/1980, 939.42 948.21 931.31 942.24 461600
  • 10/3/1980, 942.24 957.85 938.40 950.68 475100
  • 10/6/1980, 950.85 969.62 950.85 965.70 501300
  • 10/7/1980, 965.70 973.04 955.55 960.67 503100
  • 10/8/1980, 960.67 971.42 955.29 963.99 465800
  • 10/9/1980, 963.99 971.08 953.07 958.96 439800
  • 10/10/1980, 958.96 965.70 946.25 950.68 440400

dji 1980

Chart#1 (above, EOD, PPt-Sup-Res)   DJIA, .DJI (9/2/1980 to 10/10/1980)

September 12th was a Friday.   Before our USA markets’ Friday 9/12/1980 open, enter the Turkish coup of September 12th,  1980.   The DJIA closed at 936.52,  down from Thursday’s 941.30.   Monday, 9/15/1980, the DJIA opened at    936.52,  saw a low of  926.96, rallied to a high of 942.58, and closed at 937.63.  For the DJIA Bears, the Turkish coup was a bear  trap.  Earnings season  reported Revenues and  Earnings, misses and beats, beats and misses,  moved the markets.

  What about the S&P 500? 

This is what I pulled from my S&P 500  1980 (EOD) spreadsheets

  • 9/2/1980, 122.38 124.36 121.79 123.74 352900
  • 9/3/1980, 123.87 126.43 123.87 126.12 523700
  • 9/4/1980, 126.12 127.70 124.42 125.42 590300
  • 9/5/1980, 125.42 126.12 124.08 124.88 379900
  • 9/8/1980, 124.88 125.67 122.78 123.31 420500
  • 9/9/1980, 123.31 124.52 121.94 124.07 444600
  • 9/10/1980, 124.07 125.95 123.60 124.81 514300
  • 9/11/1980, 124.81 126.48 124.19 125.66 447700
  • 9/12/1980, 125.66 126.75 124.72 125.54 471800  *Turkish coup
  • 9/15/1980, 125.54 126.35 124.09 125.67 446300
  • 9/16/1980, 125.67 127.78 125.15 126.74 572900
  • 9/17/1980, 126.74 129.68 126.37 128.87 639900
  • 9/18/1980, 128.87 130.38 127.63 128.40 633900
  • 9/19/1980, 128.40 130.33 127.57 129.25 537800
  • 9/22/1980, 129.25 130.99 127.89 130.40 531400
  • 9/23/1980, 130.40 132.17 128.55 129.43 643900
  • 9/24/1980, 129.43 131.34 128.45 130.37 568600
  • 9/25/1980, 130.37 131.53 128.13 128.72 495100
  • 9/26/1980, 128.17 128.17 125.29 126.35 494600
  • 9/29/1980, 125.41 125.41 122.87 123.54 464100
  • 9/30/1980, 123.54 126.09 123.54 125.46 402900
  • 10/1/1980, 125.46 127.88 124.66 127.13 487200
  • 10/2/1980, 127.13 128.82 126.04 128.09 461600
  • 10/3/1980, 128.09 130.44 127.65 129.33 475100
  • 10/6/1980, 129.35 132.38 129.35 131.73 501300
  • 10/7/1980, 131.73 132.88 130.10 131.00 503100
  • 10/8/1980, 131.00 132.78 130.28 131.65 465800
  • 10/9/1980, 131.65 132.65 130.25 131.04 439800
  • 10/10/1980, 131.04 132.15 129.58 130.29 440400

spx 1980

Chart#2 (above, EOD, PPt-Sup-Res)   S&P500, .INX  (9/2/1980 to 10/10/1980)

September 12th was a Friday.   Before our USA markets’ Friday 9/12/80 open, enter the Turkish coup of September 12th,  1980.   The S&P500  closed at 125.54,  down from Thursday’s 125.66 … a whole big 0.12 points.   Monday, 9/15/1980, the S&P500 opened at    125.54,  saw a low of  124.09, rallied to a high of 126.35, and closed at 125.67.  For the S&P500 Bears, the Turkish coup was a non-event bear  trap.

So, Monday’s markets will no doubt still be about  companies reporting revenues and earnings, beats and misses; but also,  tragic current events like what happened in Nice, France and the Turkish coup.

Vet67to82

Vet0001

 

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3 thoughts on “Index Support and Resistance for Monday, 7/18/2016

  1. It’s your money, my money, our money. I am working on my due diligence homework, databases, spreadsheets, and charts … which I WILL share in part two for Monday and next week including PRO/CONs and Bull/Bear analysis … as well as my projected highs and lows. GLTA

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