Index Support and Resistance for Friday, 7/29/2016

 

   Here we are, Friday, the last trading day of the week as well as the last trading day of July.  While we were sleeping the other side of the planet was already waking and heading to work.  At 8:00 AM ET USA time it is 8:00 PM in Shenzhen, China and the Chinese stock markets are  closed.  Shenzhen, China is just north of Hong Kong.
The problem with the Central Banks efforts, including the US Federal Reserve’s failure to have room to raise rates, are summed up in this one sentence:  “Currency traders doubting Haruhiko Kuroda’s ability to weaken the yen are getting ready to buy the currency even if the Bank of Japan governor expands stimulus Friday.”   Basically, the Centrals Banks struggles to hit their elusive “natural interest rate vs. inflation” targets, promote job creation, and instill growth, … is being undermined at every turn by Mr. & Ms. Fickle Markets … because they can.
How do I know?  Because every day I am doing my own homework.  As I work my way thru the databases and spreadsheets, before I even get to the charts, I can already see if the supports are going higher, or lower.  i can already see if the Resistance levels are moving up, or down, away from the pivot point or towards it.  I can see if the projected Highs and Lows are going higher, or lower.  The MATH combs thru the data and exposes the good, the bad, and the ugly … and, occasionally, a pearl of great value appears.
The Central Banks, with the help of their respective governments, and respective markets regulators, … need a new game plan.  Good luck with coming up with one investors and traders can’t undermine.
Oh, yeah.  The Japanese Central Bank, per Mr. & Ms. Fickle Markets,  “disappointed” and the Yen is strengthening nearly 2 yen less to the US dollar.   Why should we be concerned?  Because Mr. & Ms. Fickle Markets “traders” have no mandate, or obligation, to create jobs, control inflation, or put the respective economies on a path to growth, they are only concerned with the cash they can stick in their pockets.  In this case, my vote goes to the Central Banks, because people put to work, are paying taxes, have money to feed and house their families, pay bills … and bank or spend discretionary funds.  The more people working and paying taxes, the higher the probability governments will find themselves with tax revenues surpluses that could, and should be used to retire debt. Simply put:  The needs (and wants) of the many, outweigh the needs (and wants) of the few, or the one. 

Earnings  Season watch:

  •   Alphabet Inc. (GOOGL, GOOG) Google Profits Surge on Strong Ad Demand
  •   Amazon (AMZN) Posts Another Blockbuster Profit
  Below you will find the Index Support and Resistance for Friday, 7/29/2016 as calculated from the changes in Index points through Thursday, 7/28/2016’s close.
                 —————————————-

Index chart 20160728

 I.   Index performance Thursday, 7/28/2016

  • DJI Avg      18,456.35  -15.82  (-0.09%)    (chart: blue)
  • Nasdaq        5,154.98  +15.17  (+0.30%)    (chart: gold)
  • S&P 500       2,170.06   +3.48  (+0.16%)    (chart: red )
  •   ——————————————-
  • DJ Trans Avg  7,864.13   +2.68  (+0.03%)
  • Rus 1k (RUI)  1,202.11   +2.33  (+0.19%)
  • Rus 2k (RUT)  1,217.33   -1.60  (-0.13%)
  • Rus 3k (RUA)  1,281.78   +2.17  (+0.17%)
  • CBOE (TNX)       15.11   -0.04  (-0.26%)
  • Volatility(VIX)  12.72   -0.11  (-0.86%)
 I. a. Select stocks of interest, from Thursday, 7/28/2016
  • AAPL … 104.34  +1.39 (+1.35%)   After Hours: 104.54 +0.20 (+0.19%)
  • C ………  44.08  -0.05 (-0.11%)   After Hours:  44.08 +0.00 (+0.00%)
  • CHK ……   5.19  +0.00 (+0.00%)   After Hours:   5.20 +0.01 (+0.19%)
  • FH …….   2.42  +0.04 (+1.68%)
  • GE …….  31.25  -0.03 (-0.10%)   After Hours:  31.37 +0.12 (+0.38%)
  • JCP ……   9.49  +0.09 (+0.96%)   After Hours:   9.50 +0.01 (+0.11%)
  • MPC ….  38.17  +0.34 (+0.90%)   After Hours:  38.20 +0.03 (+0.08%)
  • MU ……  13.81  -0.38 (-2.68%)   After Hours:  13.87 +0.06 (+0.43%)
  • VZ ……  54.86  -0.46 (-0.83%)   After Hours:  54.87 +0.01 (+0.02%)
  •      select ETFs …
  • DIA ….  184.38  -0.19 (-0.10%)   After Hours: 184.35 -0.03 (-0.02%)
  • QQQ …  114.98  +0.40 (+0.35%)   After Hours: 115.40 +0.42 (+0.37%)
  • SPY ….  216.80  +0.29 (+0.13%)   After Hours: 216.93 +0.13 (+0.06%)
  • GLD …  127.70  -0.33 (-0.26%)   After Hours: 127.51 -0.19 (-0.15%)
  • SLV ……  19.21  -0.16 (-0.83%)   After Hours:  19.20 -0.01 (-0.05%)
  • IWD …  105.39  +0.04 (+0.04%)   After Hours: 105.25 -0.14 (-0.13%)
  • IWF …  104.57  +0.28 (+0.27%)
  • IWM ..  120.83  -0.29 (-0.24%)   After Hours: 120.98 +0.15 (+0.12%)
  • IWV …  127.97  +0.21 (+0.16%)
 I. b. Sector summary from Thursday, 7/28/2016
Sector Change +/-% (best (or least worst) to worst)
  • Non-Cyclical Cons. Goods ……… +1.08%
  • Technology ………………….. +0.40%
  • Utilities …………………… +0.37%
  • Healthcare ………………….. +0.21%
  • Cyclical Cons. Goods …………. +0.00% 
  • Financials ………………….. -0.01%  
  • Industrials …………………. -0.06%
  • Basic Materials ……………… -0.15%
  • Telecommunications Srvcs ……… -0.36%
  • Energy ……………………… -0.61%

 II. Bonds, and/or Currencies, and/or Commodities from Thursday, 7/28/2016

  II. a.  USA  Bonds
  • 3 Month  0.23%  -0.03 (-11.54%)
  • 6 Month  0.36%  -0.02 (-5.26%)
  •  2 Year  0.70%  -0.01 (-1.41%)
  •  5 Year  1.08%  -0.02 (-1.82%)
  • 10 Year  1.50%  -0.03 (-1.96%)
  • 30 Year  2.23%  -0.02 (-0.89%)
  II. b.  Currencies
  • AUD/USD  0.7527  +0.0017 (0.23%)
  • EUR/USD  1.1079  -0.0004 (-0.03%)
  • GBP/USD  1.3182  +0.0021 (0.16%)
  • USD/CAD  1.3142  -0.0011 (-0.09%)
  • USD/CNY  6.6545  -0.0024 (-0.04%)
  • USD/HKD  7.7558  -0.0006 (-0.01%)
  • USD/JPY  104.1305  -0.6575 (-0.63%)
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                        ( as expected, no rate increase  )
  • September 20-21*        ( needs more homework )
  • 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, 7/29/2016

 Below you will find the 52 week performance, and the Year-to-Date (YTD) performance to the selected indexes.  See Table IV.  Index “projected” Highs and Lows and Table V.  Index: 52week High,  52week Low, (Close 12/31/2015) to track changes in this info.  See the 200 day simple moving average (sma200) 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 (sma50),  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.    winking smiley
:: 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.     sad smiley
:: 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 7/28 down  @  18,456.35  -15.82  (-0.09%)
:: Closed   (below 7/28 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)   18436.14
  •   Support (s1)  18389.03       Support (s2)   18321.70
  •   Resistance (r1)   18503.47   Resistance (r2)   18550.58
  •   Simple Moving Average (Close 50):    17960.01       (uptrend)
  •   52 week performance  +3.97%  YTD performance  +5.92%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 7/28 up  @     5,154.98  +15.17  (+0.30%)
:: Closed   (above 7/28 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)  5148.63
  •   Support (s1)   5137.10      Support (s2)  5119.22
  •   Resistance (r1)  5166.51    Resistance (r2)  5178.04
  •   Simple Moving Average (Close 50):  4913.62          (uptrend)
  •   52 week performance  +0.51%   YTD performance  +2.95%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 7/28 up  @   2,170.06   +3.48  (+0.16%)
:: Closed   (above 7/28 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)  2167.55
  •   Support (s1)  2162.25        Support (s2)  2154.44
  •   Resistance (r1)  2175.36     Resistance (r2)  2180.66
  •   Simple Moving Average (Close 50):  2105.82         (uptrend)
  •   52 week performance  +2.91%  YTD performance  +6.17%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 7/28 up  @  1,202.11   +2.33  (+0.19%)
:: Closed   (above 7/28 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)   1200.70
  •   Support (s1)  1197.76      Support (s2)  1193.40
  •   Resistance (r1)  1205.06   Resistance (r2)  1208.00
  •   Simple Moving Average (Close 50):  1165.52          (uptrend)
  •   52 week performance  +2.29%  YTD performance  +6.20%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 7/28 down  @  1,217.33   -1.60  (-0.13%)
:: Closed   (below 7/28 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)  1217.03
  •   Support (s1)   1214.56      Support (s2)   1211.80
  •   Resistance (r1)  1219.79    Resistance (r2)  1222.26
  •   Simple Moving Average (Close 50):  1163.72          (uptrend)
  •   52 week performance  -1.00%   YTD performance   +7.17%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 7/28 up   @  1,281.78   +2.17  (+0.17%)
:: Closed   (above 7/28 PP)  (above 7/29 PP)
  •   :: Pivot point (PP)   1280.37
  •   Support (s1)   1277.27     Support (s2)  1272.77
  •   Resistance (r1)  1284.87   Resistance (r2)  1287.97
  •   Simple Moving Average (Close 50):   1240.27          (uptrend)
  •   52 week performance   +2.10%    YTD performance  +6.27%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 7/28 down  @   15.11   -0.04  (-0.26%)
:: Closed   (below 7/28 PP)  (below 7/29 PP)
  •   :: Pivot point (PP)    15.13
  •   Support (s1)    14.91      Support (s2)  14.71
  •   Resistance (r1)  15.33     Resistance (r2)  15.55
  •   Simple Moving Average (Close 50):  16.27          (downtrend)
  •   Simple Moving Average (Close 200)  19.26          (downtrend)
  •   :: Close (142 days) above/below (+/-) sma200  (-4.151) pts., or (-21.552%)
  •   :: 52 week performance  -33.38%   YTD performance -33.41%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 7/28 down   @  12.72   -0.11  (-0.86%)
:: Closed  (below 7/28 PP)  (below 7/29 PP)
  •   :: Pivot point (PP)    12.87
  •   Support (s1)    12.21      Support (s2)   11.71
  •   Resistance (r1)  13.37     Resistance (r2)  14.03
  •   Simple Moving Average (Close 50):  15.48         (downtrend)
  •   :: 52 week performance   +4.95%   YTD performance  -30.15%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Friday, 7/29/2016

  • Index,  :: Projected High,  Projected Low
  •   DJI Avg   …. 18469.81  …  18355.37
  •   Nasdaq …….  5172.28  …   5142.87
  •   S&P 500 ……  2178.01  …   2164.90
  •   Russell 1000 .  1206.53  …   1199.23
  •   Russell 2000 .  1218.41  …   1213.18
  •   Russell 3000 .  1286.42  …   1278.82
  •   CBOE TNX ……   15.23  …     14.81
  •   Volatility …    13.70  …     12.54

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

  • DJI Avg   ..  18622.01 ..  15370.33 .. (17425.03)  n/c
  • Nasdaq …..   5176.77 ..   4209.76 ..  (5007.41)  n/c
  • S&P 500 ….   2175.63 ..   1810.10 ..  (2043.94)  n/c
  •   ——————————————-
  • Rus 1k (RUI)   1204.57 ..    995.55 ..  (1069.65)  n/c
  • Rus 2k (RUT)   1244.98 ..    943.10 ..  (1135.89)  n/c
  • Rus 3k (RUA)   1284.35 ..   1056.45 ..  (1206.10)  n/c
  • CBOE (TNX) ….. 23.77 …    13.36 …   (22.69)  n/c
  • Volatility(VIX)  53.29 …    10.88 …   (18.21)  n/c
  •    —     —     —     —     —     —
  •   n/c* =no change  c-* =changed lower  c+* =changed higher

-–  Monday, 7/25/2016   thru    Friday 7/29/2016  ——

 

Hope the above Index Support and Resistance calculations for Friday, 7/29/2016  help your investing and trading planning today …

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