Index Support and Resistance for Wednesday, 8/3/2016

 

  Considering that the Energy Sector companies in the S&P 500 Index are getting pummeled by crude oil prices, revenues and earnings,  it would seem appropriate to get the reporting RIGHT!    Crude that is in storage as collateral, is NOT supply, and shouldn’t be counted as anything other than COLLATERAL, nor reported as anything other than collateral, until such time as it is no longer collateral against futures sold.  As far as crude oil “glut” is concerned, rebalancing  ** is ** in effect, is taking place, it’s just going to take a whole lot longer than Mr. & Ms. Fickle Markets wants … or wants to hear.  There is still little reporting of crude production outages … or discussion, debate, and reporting on OPEC, and non-OPEC, non-USA,  production numbers that can NOT be confirmed by second sources.   That stated, the talking heads at CNBC appear to … finally … making an effort with at least one report:
    —————————————-
  The Pivot Point (PP) for Tuesday’s S&P 500 Index trading was 2171.78.  That was the highest Pivot Point for the S&P 500 Index not only Year to date (YTD) but for all of 2015-2016.  The S&P 500 Index closed -14.75 points below its PP, or -0.68 percent.  Tuesday’s S&P 500 close was -1.24 points below its PP for today.   That said, IMHO, a bearish open, will setup a bullish S&P 500 Index close.
  Below you will find the Index Support and Resistance for Wednesday, 8/3/2016 as calculated from the changes in Index points through Tuesday, 8/2/2016’s close.
      —————————

Index chart 20160802

 I.   Index performance Tuesday, 8/2/2016

  • DJI Avg       18,313.77  -90.74  (-0.49%)    (chart: blue)
  • Nasdaq         5,137.73  -46.46  (-0.90%)    (chart: gold)
  • S&P 500       2,157.03  -13.81  (-0.64%)    (chart: red )
  • ——————————————-
  • DJ Trans Avg  7,648.44  -167.21 (-2.14%)
  • Rus 1k (RUI)  1,194.42   -8.24  (-0.69%)
  • Rus 2k (RUT)  1,202.35  -16.78  (-1.38%)
  • Rus 3k (RUA)  1,273.01   -9.45  (-0.74%)
  • CBOE 10Yr (TNX)  15.37   +0.41  (+2.74%)
  • Volatility(VIX)  13.37   +0.93  (+7.48%)
 I. a. Select stocks of interest, from Tuesday, 8/2/2016
  • AAPL …  104.48  -1.57 (-1.48%)   After Hours: 104.44 -0.04 (-0.04%)
  • C ……   42.99  -0.43 (-0.99%)   After Hours:  42.99 +0.00 (+0.00%)
  • CHK ….    4.90  -0.19 (-3.73%)   After Hours:   4.92 +0.02 (+0.41%)
  • FH …..    2.28  +0.03 (+1.33%)
  • GE …..   31.05  -0.08 (-0.26%)   After Hours:  31.06 +0.01 (+0.03%)
  • JCP ….    9.28  -0.43 (-4.43%)   After Hours:   9.27 -0.01 (-0.11%)
  • MPC ….   38.79  -0.01 (-0.03%)   After Hours:  38.79 +0.00 (+0.00%)
  • MU …..   13.40  -0.16 (-1.18%)   After Hours:  13.45 +0.05 (+0.37%)
  • VZ …..   54.00  -0.50 (-0.92%)   After Hours:  54.10 +0.10 (+0.19%)
  •      select ETFs …
  • DIA …  182.96  -0.91 (-0.49%)   After Hours: 183.15 +0.19 (+0.10%)
  • QQQ …  114.96  -0.88 (-0.76%)   After Hours: 114.93 -0.03 (-0.03%)
  • SPY …  215.52  -1.41 (-0.65%)   After Hours: 215.53 +0.01 (0.00%)
  • GLD …  130.27  +1.05 (+0.81%)    Pre-market: 130.36 +0.09 (0.07%)
  • SLV ….  19.60  +0.17 (+0.87%)    Pre-market:  19.60 0.00 (0.00%)
  • IWD …  104.36  -0.71 (-0.68%)   After Hours: 104.46 +0.10 (0.10%)
  • IWF …  104.26  -0.74 (-0.70%)   After Hours: 104.45 +0.19 (0.18%)
  • IWM …  119.48  -1.72 (-1.42%)    Pre-market: 119.27 -0.21 (-0.18%)
  • IWV …  127.10  -0.95 (-0.74%)
I. b. Sector summary from Tuesday, 8/2/2016
 
Sector Change +/-% (best (or least worst) to worst)
  • Energy ………………………………. +0.44%
  • Non-Cyclical Cons. Goods ………. +0.34%
  • Basic Materials ……………. -0.25%
  • Utilities …………………….. -0.32%
  • Healthcare …………………. -0.37%
  • Telecommunications Srvcs ……. -0.69%
  • Industrials …………………. -0.77%
  • Technology ………………… -0.94%
  • Financials ………………….. -0.94%
  • Cyclical Cons. Goods …………….. -1.42%

 II. Bonds, and/or Currencies, and/or Commodities from Tuesday, 8/2/2016

 
  II. a.  USA  Bonds
  • 3 Month  0.28%  +0.01 (+3.70%)
  • 6 Month  0.39%  +0.01 (+2.63%)
  •   2 Year  0.68%  -0.01 (-1.45%)
  •   5 Year  1.09%  -0.02 (-1.80%)
  • 10 Year  1.55%  -0.01 (-0.64%)
  • 30 Year  2.30%  -0.01 (-0.43%)
II. b.  Currencies
  • AUD/USD .. 0.7591  -0.0007 (-0.09%)
  • EUR/USD .. 1.1211  -0.0008 (-0.07%)
  • GBP/USD .. 1.3324  -0.0014 (-0.10%)
  • USD/CAD .. 1.3116  +0.0009 (+0.07%)
  • USD/CNY .. 6.6278  -0.0020 (-0.03%)
  • USD/HKD .. 7.7596  -0.0005 (-0.01%)
  • USD/JPY  101.3295  +0.2555 (+0.25%)
 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*        ( work in progress )
  • 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 Wednesday, 8/3/2016

 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 (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.
:: 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 8/2 down  @  18,313.77  -90.74  (-0.49%)
:: Closed   (below 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)   18321.74
  •   Support (s1)  18239.82       Support (s2)   18165.88
  •   Resistance (r1)   18395.68   Resistance (r2)   18477.60
  •   Simple Moving Average (Close 50):    18013.76       (uptrend)
  •   52 week performance  +4.07%  YTD performance  +5.10%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 8/2 down  @    5,137.73  -46.46  (-0.90%)
:: Closed   (below 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)  5142.85
  •   Support (s1)   5104.68      Support (s2)  5071.63
  •   Resistance (r1)  5175.90    Resistance (r2)  5214.07
  •   Simple Moving Average (Close 50):  4938.88          (uptrend)
  •   52 week performance  +0.63%   YTD performance  +2.60%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 8/2 down  @   2,157.03  -13.81  (-0.64%)
:: Closed   (below 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)  2158.27
  •   Support (s1)  2146.34        Support (s2)  2135.65
  •   Resistance (r1)  2168.96     Resistance (r2)  2180.89
  •   Simple Moving Average (Close 50):  2113.05         (uptrend)
  •   52 week performance  +3.04%  YTD performance  +5.53%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 8/2 down  @  1,194.42   -8.24  (-0.69%)
:: Closed   (below 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)   1195.36
  •   Support (s1)  1188.26      Support (s2)  1182.10
  •   Resistance (r1)  1201.52   Resistance (r2)  1208.62
  •   Simple Moving Average (Close 50):  1169.62          (uptrend)
  •   52 week performance  +2.07%  YTD performance  +5.53%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 8/2 down  @  1,202.35  -16.78  (-1.38%)
:: Closed   (above 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)  1207.00
  •   Support (s1)   1194.95      Support (s2)   1187.55
  •   Resistance (r1)  1214.40    Resistance (r2)  1226.45
  •   Simple Moving Average (Close 50):  1170.35          (uptrend)
  •   52 week performance  -2.39%   YTD performance   +5.85%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 8/2 down   @  1,273.01   -9.45  (-0.74%)
:: Closed   (below 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)   1274.23
  •   Support (s1)   1266.42     Support (s2)  1259.83
  •   Resistance (r1)  1280.82   Resistance (r2)  1288.63
  •   Simple Moving Average (Close 50):   1245.11          (uptrend)
  •   52 week performance   +1.61%    YTD performance  +5.55%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 8/2 up  @   15.37   +0.41  (+2.74%)
:: Closed   (above 8/2 PP)  (below 8/3 PP)
  •   :: Pivot point (PP)    15.41
  •   Support (s1)    15.12      Support (s2)  14.86
  •   Resistance (r1)  15.67     Resistance (r2)  15.96
  •   Simple Moving Average (Close 50):  16.08          (downtrend)
  •   Simple Moving Average (Close 200)  19.18         (downtrend)
  •   :: Close (145 days) above/below (+/-) sma200  (-3.812) pts., or (-19.871%)
  •   :: 52 week performance  -30.48%   YTD performance  -32.26%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 8/2 up   @  13.37   +0.93  (+7.48%)
:: Closed  (above 8/2 PP)  (above 8/3 PP)
  •   :: Pivot point (PP)    13.32
  •   Support (s1)    12.40      Support (s2)   11.43
  •   Resistance (r1)  14.29     Resistance (r2)  15.21
  •   Simple Moving Average (Close 50):  15.29         (downtrend)
  •   :: 52 week performance   +6.87%   YTD performance  -26.58%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Wednesday, 8/3/2016

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 18358.71  …  18202.85
  •   Nasdaq……..  5159.38  …   5088.16
  •   S&P 500 ……  2163.62  …   2141.00
  •   Russell 1000 .  1198.44  …   1185.18
  •   Russell 2000 .  1210.70  …   1191.25
  •   Russell 3000 .  1277.53  …   1263.13
  •   CBOE TNX ……   15.54  …     14.99
  •   Volatility …    14.75  …     12.86
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • DJI Avg   ..  18622.01 ..  15370.33 .. (17425.03)  n/c
  • Nasdaq …..   5199.13 ..   4209.76 ..  (5007.41)  n/c
  • S&P 500 ….   2178.29 ..   1810.10 ..  (2043.94)  n/c
  •   ——————————————-
  • Rus 1k (RUI)   1207.00 ..    995.55 ..  (1069.65)  n/c
  • Rus 2k (RUT)   1243.16 c-    943.10 ..  (1135.89)  c-*
  • Rus 3k (RUA)   1287.14 ..   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, 8/1/2016   thru    Friday 8/5/2016  ——

 

Hope the above Index Support and Resistance calculations for Wednesday, 8/3/2016   help your investing and trading planning today …

     –   –   –   –           –   –   –   –
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