Index Support and Resistance for Wednesday, 8/17/2016

 

  Updated.   This is Wednesday and we have two items of import to gear up for.  First, Friday, only two days away, is third Friday of the month options expiry … and that brings increased volatility with its approach and arrival.  Second, we’re approaching the Sunday anniversary of the first markets’ correction as of August 21, 2015.   Take your straddle date pick … third Friday of the month options expiry … or Monday 8/22/2016 as to which date scares the nervous Nellies the most.
Yep, a whole year has vanished.  We clearly need to take some time to stop and smell the roses.   As to fixing the global and USA economies, the views are changing to somewhat along the lines of what I’ve been posting here.  QE isn’t working.  The Central Banks are feeding QE addicted markets … while counting (hoping) on the consumer to bail out their respective local economies … and getting nothing more accomplished.   The Central Banks need the help of their respective governments to move the focus away from QE to the taxpaying consumers.  Global governments need to take advantage of LOW interest rates, put MORE people to work, every man, woman, and child,  in better paying jobs, fixing crumbling infrastructure … NOW.  It’ll take years to get everything that needs to get fixed, … FIXED, but people with JOBS, are paying TAXES, have money to feed and house their families, with monies to repay debt, and perhaps disposable income to bank or spend on “quality of life” family and personal needs.    Mr. Mohamed El-Erian gets it:
  Eventually, QE addicted markets will realize the failure of global governments and Central Banks to have a game plan to constructively incorporate consumers, and the unemployed,  as  proactive tools in the recovery effort,  as an economic ASSET and benefit, was and is a huge FIXABLE blunder …. and that switching horses from QE to consumers will benefit local economies, bottom up,  bringing the overall global economy back to health and growth … which ALSO benefits Mr. & Ms. Fickle Markets.
         ————

  Higher highs and higher lows suggest the upward trend will continue …

  •   On Tuesday, the DJIA (DJIA, .DJI) posted a new year to date (YTD) high for the  Open  at 18614.48.
  •   On Tuesday, the Nasdaq Comp (NAS, .IXIC) posted a new YTD higher Open at 5247.96.
  •   On Tuesday, the S&P 500 (SPX, .INX) posted a new YTD high for the Open at 2186.24.
  •   On Tuesday, the Russell 1000 (.RUI) posted a new YTD high for the Open at 1213.16.  The RUI did close at 1,206.41 its Low for the day.
  •   On Tuesday, the Russell 2000 (.RUT) posted a new YTD high for the Open at 1241.68 and a new YTD high for the Low at 1230.74.
  •   On Tuesday, the Russell 3000 (.RUA) posted a new YTD high for the Open at 1293.21.
  For today’s market actions, you may find you also need these related articles:
  Below you will find the Index Support and Resistance for Wednesday, 8/17/2016 as calculated from the changes in Index points through Tuesday, 8/16/2016’s close.    See  below for Section IV. Index “projected” Highs and Lows for ( today’s day and date ).
         ————————————
 Index chart 20160816

  I.   Index performance Tuesday, 8/16/2016

  • Dow Jones    18,552.02  -84.03  (-0.45%)    (chart: blue)
  • Nasdaq        5,227.11  -34.90  (-0.66%)    (chart: gold)
  • S&P 500       2,178.15  -12.00  (-0.55%)    (chart: red )
  •   ——————————————-
  • DJ Trans Avg  7,850.79   -1.77  (-0.02%)
  • Rus 1k (RUI)  1,206.41   -7.13  (-0.59%)
  • Rus 2k (RUT)  1,231.13  -10.74  (-0.86%)
  • Rus 3k (RUA)  1,287.10   -7.88  (-0.61%)
  • CBOE (TNX)       15.76   +0.23  (+1.48%)
  • Volatility(VIX)  12.64   +0.83  (+7.03%)
 I. a. Select stocks of interest, from Tuesday, 8/16/2016
  • AAPL … 109.38  -0.10 (-0.09%)
  • C ……  46.62  +0.23 (+0.50%)   After Hours: 46.69 +0.07 (+0.15%)
  • CHK ….   5.91  +0.41 (+7.45%)   After Hours:  5.88 -0.03 (-0.51%)
  • DHT ….   5.38  +0.03 (+0.56%)   After Hours:  5.40 +0.02 (+0.37%)
  • FH …..   2.14  +0.05 (+2.39%)   After Hours:  2.09 -0.05 (-2.21%)
  • GE …..  31.19  -0.05 (-0.16%)   After Hours: 31.23 +0.04 (+0.13%)
  • JCP ….  11.15  -0.14 (-1.24%)   After Hours: 11.20 +0.05 (+0.45%)
  • MPC ….  42.13  +0.92 (+2.23%)   After Hours: 42.10 -0.03 (-0.07%)
  • MU …..  15.49  -0.04 (-0.26%)   After Hours: 15.49 +0.00 (+0.00%)
  • VZ …..  52.76  -0.85 (-1.59%)   After Hours: 52.78 +0.02 (+0.04%)
  •      select ETFs …
  • DIA …  185.77  -0.74 (-0.40%)   After Hours: 185.86 +0.09 (+0.05%)
  • QQQ …  117.05  -0.65 (-0.55%)   After Hours: 117.13 +0.08 (+0.07%)
  • SPY …  217.96  -1.13 (-0.52%)   After Hours: 218.26 +0.30 (+0.14%)
  • GLD …  128.47  +0.63 (+0.49%)   After Hours: 128.60 +0.13 (+0.10%)
  • SLV ….  18.82  -0.01 (-0.05%)   After Hours:  18.79 -0.03 (-0.16%)
  • IWD …  106.02  -0.50 (-0.47%)
  • IWF …  104.95  -0.73 (-0.69%)   After Hours: 105.09 +0.14 (0.13%)
  • IWM …  122.40  -0.98 (-0.79%)   After Hours: 122.48 +0.08 (0.07%)
  • IWV …  128.66  -0.82 (-0.63%)
 I. b. Sector summary from Tuesday, 8/16/2016
Sector Change +/-% (best (or least worst) to worst)
  • Energy ……………………….. +0.39% 
  • Basic Materials ………… -0.01% 
  • Non-Cyclical Cons. Goods … -0.04%  
  • Financials …………….. -0.33%  
  • Industrials ……………. -0.45% 
  • Technology …………….. -0.51%  
  • Cyclical Cons. Goods ……. -0.57% 
  • Healthcare …………….. -0.80% 
  • Utilities ……………… -1.00%
  • Telecommunications Srvcs … -1.02% 
  • Real Estate .. ( 8/31/2016 ) …………. * tbd *
  • The Eleventh Sector for 2016: Real Estate
              ————————————
                                            ——

 II. Bonds, and/or Currencies, and/or Commodities from Tuesday, 8/16/2016

  II. a.  USA  Bonds
  • 3 Month  0.27%  -0.01 (-3.57%)
  • 6 Month  0.42%  +0.00 (+0.00%)
  •  2 Year  0.74%  +0.02 (+2.78%)
  •  5 Year  1.16%  +0.04 (+3.57%)
  • 10 Year  1.58%  +0.04 (+2.60%)
  • 30 Year  2.29%  +0.05 (+2.23%)
II. b.  Currencies
  • AUD/USD  0.7697  +0.0002 (0.02%)
  • EUR/USD  1.1286  +0.0010 (0.09%)
  • GBP/USD  1.3054  +0.0026 (0.20%)
  • USD/CAD  1.2859  -0.0008 (-0.06%)
  • USD/CNY  6.6205  -0.0048 (-0.07%)
  • USD/HKD  7.7542  -0.0005 (-0.01%)
  • USD/JPY  100.4500  +0.2545 (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 2016  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, 8/17/2016

 Below you will find the 52 week performance, and the Year-to-Date (YTD) performance to the selected indexes.  See  below for Section IV. Index “projected” Highs and Lows for today’s day and date.  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 8/16 down  @  18,552.02  -84.03  (-0.45%)
:: Closed  (below 8/16 PP)  (below 8/17 PP)
  • :: Pivot point (PP)   18572.51
  •   Support (s1)  18530.16       Support (s2)   18508.30
  •   Resistance (r1)   18594.37   Resistance (r2)   18636.72
  •   Simple Moving Average (Close 50):    18159.60       (uptrend)
  •   52 week performance  +5.74%  YTD performance  +6.47%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 8/16 down  @    5,227.11  -34.90  (-0.66%)
:: Closed   (below 8/16 PP)  (below 8/17 PP)
  •   :: Pivot point (PP)  5234.05
  •   Support (s1)   5219.84      Support (s2) 5212.57
  •   Resistance (r1)  5241.32    Resistance (r2)  5255.53
  •   Simple Moving Average (Close 50):  4998.89          (uptrend)
  •   52 week performance  +3.32%   YTD performance  +4.39%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 8/16 down  @   2,178.15  -12.00  (-0.55%)
:: Closed   (below 8/16 PP)  (below 8/17 PP)
  •   :: Pivot point (PP)  2180.84
  •   Support (s1)  2175.45        Support (s2)  2172.74
  •   Resistance (r1)  2183.55     Resistance (r2)  2188.94
  •   Simple Moving Average (Close 50):  2130.51         (uptrend)
  •   52 week performance  +3.87%  YTD performance  +6.57%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 8/16 down  @  1,206.41   -7.13  (-0.59%)
:: Closed   (below 8/16 PP)  (below 8/17 PP)
  •   :: Pivot point (PP)   1208.66
  •   Support (s1)  1204.16      Support (s2)  1201.91
  •   Resistance (r1)  1210.91   Resistance (r2)  1215.41
  •   Simple Moving Average (Close 50):  1179.39          (uptrend)
  •   52 week performance  +2.82%   YTD performance  +6.58%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 8/16 down  @  1,231.13  -10.74  (-0.86%)
:: Closed  (below 8/16 PP)  (below 8/17 PP)
  •   :: Pivot point (PP)  1234.48
  •   Support (s1)   1227.29      Support (s2)   1223.54
  •   Resistance (r1)  1238.23    Resistance (r2)  1245.42
  •   Simple Moving Average (Close 50):  1185.70          (uptrend)
  •   52 week performance  +0.48%    YTD performance   +8.38%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 8/16 down   @  1,287.10   -7.88  (-0.61%)
:: Closed   (below 8/16 PP)  (below 8/17 PP)
  •   :: Pivot point (PP)   1289.13
  •   Support (s1)   1285.05     Support (s2)  1283.00
  •   Resistance (r1)  1291.18   Resistance (r2)  1295.26
  •   Simple Moving Average (Close 50):   1256.44          (uptrend)
  •   52 week performance   +3.85%    YTD performance  +6.72%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 8/16 up  @   15.76   +0.23  (+1.48%)
:: Closed   (above 8/16 PP)  (above 8/17 PP)
  •   :: Pivot point (PP)    15.59
  •   Support (s1)    15.32      Support (s2)  14.87
  •   Resistance (r1)  16.04     Resistance (r2)  16.31
  •   Simple Moving Average (Close 50):  15.50          (downtrend)
  •   Simple Moving Average (Close 200)  18.94          (downtrend)
  •   :: Close (155 days) above/below (+/-) sma200  (-3.176) pts., or (-16.772%)
  •   :: 52 week performance  -28.23%   YTD performance  -30.54%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 8/16 up  @  12.64   +0.83  (+7.03%)
:: Closed  (above 8/16 PP)  (above 8/17 PP)
  •   :: Pivot point (PP)    12.43
  •   Support (s1)    12.08      Support (s2)   11.52
  •   Resistance (r1)  12.99     Resistance (r2)  13.34
  •   Simple Moving Average (Close 50):  14.91         (downtrend)
  •   :: 52 week performance   -17.11%   YTD performance  -30.59%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Wednesday, 8/17/2016

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 18583.44  …  18519.23
  •   Nasdaq……..  5237.69  …   5216.21
  •   S&P 500 ……  2182.20  …   2174.10
  •   Russell 1000 .  1209.79  …   1203.04
  •   Russell 2000 .  1236.36  …   1225.42
  •   Russell 3000 .  1290.16  …   1284.03
  •   CBOE TNX ……   16.18  …     15.46
  •   Volatility …    13.17  …     12.26
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • DJI Avg   ..  18668.44 ..  15370.33 .. (17425.03)  n/c
  • Nasdaq …..   5271.36 ..   4209.76 ..  (5007.41)  n/c
  • S&P 500 ….   2193.81 ..   1810.10 ..  (2043.94)  n/c
  •   ——————————————-
  • Rus 1k (RUI)   1215.50 ..    995.55 ..  (1069.65)  n/c
  • Rus 2k (RUT)   1243.83 ..    943.10 ..  (1135.89)  n/c
  • Rus 3k (RUA)   1297.02 ..   1056.45 ..  (1206.10)  n/c
  • CBOE (TNX) ….. 23.77 …    13.36 …   (22.69)  n/c
  • Volatility(VIX)  53.29 …    11.02 …   (18.21)  n/c
  •    —     —     —     —     —     —
  •   n/c* =no change  c-* =changed lower  c+* =changed higher

-–  Monday, 8/15/2016   thru    Friday 8/19/2016  ——

 

Hope the above Index Support and Resistance calculations for Wednesday, 8/17/2016  help your investing and trading planning today …

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