Index Support and Resistance for Thursday (9/22/2016)

  Yesterday, after the Bank of Japan (BOJ) and US Federal Reserve‘s rates decisions, all the sectors closed up.  Of the Indices tracked below, the Dow Jones Transportation Average (DJTA, .DJT) performed the best as it was up +138.09 points, or +1.77 percent to close at 7,931.32.  The Nasdaq Comp also notably outperformed.   The Nasdaq Comp (NAS, .IXIC) posted a new year to date (ytd) High, also the new 52 week High at 5299.40, and closed at 5295.18 a new ytd closing high.
   For those worried about Dow Theory, if the DJTA closes the current gap with that of the Dow Jones Industrial Average (DJIA, .DJI) a little bit at a time, I’ll be very happy with that show of strength.
 The pre-market E-mini futures are up indicating a positive green US markets open.
Below you will find the Index Support and Resistance for Thursday, 9/22/2016 as calculated from the changes in Index points through Wednesday, 9/21/2016’s close.    See  below for Section IV. Index “projected” Highs and Lows for today’s day and date.
         ————————————
index-chart-20160921

 I.  Index performance Wednesday, 9/21/2016

  • DJ Indu Avg  18,293.70  +163.74  (+0.90%)    (chart: blue)
  • Nasdaq  ….      5,295.18   +53.83  (+1.03%)    (chart: gold)
  • S&P 500 ….      2,163.12   +23.36  (+1.09%)    (chart: red )
  •   ——————————————-
  • DJ Trans Avg  7,931.32  +138.09 (+1.77%)
  • Rus 1k (RUI)  1,198.97  +13.03 (+1.10%)
  • Rus 2k (RUT)  1,245.04  +16.71 (+1.36%)
  • Rus 3k (RUA)  1,280.85  +14.17 (+1.12%)
  • CBOE (TNX)       16.68  -0.20 (-1.18%)
  • Volatility(VIX)  13.30  -2.62 (-16.46%)
 I. a. Select stocks of interest, from Wednesday, 9/21/2016
  • AAPL … 113.55  -0.02 (-0.02%)   After Hours: 113.66 +0.11 (0.10%)
  • C ……  46.90  +0.36 (0.77%)   After Hours: 46.95 +0.05 (0.11%)
  • CHK ….   6.74  +0.18 (2.74%)   After Hours: 6.75 +0.01 (0.15%)
  • DHT ….   4.14  +0.03 (0.73%)   After Hours: 4.14 0.00 (0.00%)
  • FH …..   2.57  -0.06 (-2.28%)
  • GE …..  29.85  +0.18 (0.61%)   After Hours: 29.85 0.00 (0.00%)
  • JCP ….  10.00  +0.20 (2.04%)   After Hours: 10.00 0.00 (0.00%)
  • MPC ….  43.21  +0.66 (1.55%)   After Hours: 43.21 0.00 (0.00%)
  • MU …..  17.66  +0.74 (4.37%)   After Hours: 17.65 -0.01 (-0.06%)
  • VZ …..  51.87  +0.60 (1.17%)   After Hours: 51.90 +0.03 (0.06%)
  •      select ETFs …
  • DIA …  182.66  +1.61 (0.89%)
  • QQQ …  118.15  +1.15 (0.98%)   After Hours: 118.11 -0.04 (-0.03%)
  • SPY …  215.82  +2.40 (1.12%)
  • GLD …  127.27  +1.83 (1.46%)
  • SLV ….  18.85  +0.58 (3.17%)
  • IWD …  105.72  +1.27 (1.22%)
  • IWF …  104.35  +1.03 (1.00%)
  • IWM …  123.92  +1.77 (1.45%)
  • IWV …  128.24  +1.41 (1.11%)
 I. b. Sector summary from Wednesday, 9/21/2016
Sector Change +/-% (best (or least worst) to worst)
  • Basic Materials ……………… +2.66%
  • Energy ……………………… +2.17% 
  • Utilities …………………… +1.97%  
  • Telecommunications Srvcs ……… +1.77%
  • Financials ………………….. +1.27%
  • Industrials …………………. +1.26%
  • Technology ………………….. +1.23%
  • Non-Cyclical Cons. Goods ……… +1.08%  
  • Cyclical Cons. Goods …………. +0.85% 
  • Healthcare ………………….. +0.70% 

 II. Bonds, and/or Currencies, and/or Commodities from Wednesday, 9/21/2016

  II. a.  USA  Bonds
  • 3 Month  0.20%  -0.08 (-28.57%)
  • 6 Month  0.39%  -0.06 (-13.33%)
  •  2 Year  0.77%  -0.02 (-2.53%)
  •  5 Year  1.19%  -0.02 (-1.65%)
  • 10 Year  1.65%  -0.03 (-1.79%)
  • 30 Year  2.38%  -0.05 (-2.06%)
  II. b.  Currencies
  • AUD/USD .. 0.7555  -0.0002 (-0.03%)
  • EUR/USD .. 1.1153  +0.0000 (+0.00%)
  • GBP/USD .. 1.2982  -0.0001 (-0.01%)
  • USD/CAD .. 1.3177  -0.0004 (-0.03%)
  • USD/CNY .. 6.6702  -0.0006 (-0.01%)
  • USD/HKD .. 7.7560  -0.0014 (-0.02%)
  • USD/JPY  101.5750  -0.0665 (-0.07%)

 

 

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*              ( as expected, no rate increase  )
  • November 1-2
  • December 13-14*                        (54% probability of rate increase)
* 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 Thursday, 9/22/2016

 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 9/21 up  @  18,293.70  +163.74  (+0.90%)
:: Closed   (above 9/21 PP)  (above 9/22 PP)
  •   :: Pivot point (PP)   18240.90
  •   Support (s1)   18174.37       Support (s2)   18055.04
  •   Resistance (r1)   18360.23    Resistance (r2)   18426.76
  •   Simple Moving Average (Close 50):    18434.69       (downtrend)
  •   52 week performance  +12.02%  YTD performance  +4.99%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 9/21 up  @    5,295.18   +53.83  (+1.03%)
:: Closed   (above 9/21 PP)  (above 9/22 PP)
  •   :: Pivot point (PP)  5276.17
  •   Support (s1)   5252.95      Support (s2)   5210.71
  •   Resistance (r1)  5318.41    Resistance (r2)   5341.63
  •   Simple Moving Average (Close 50):  5186.22          (uptrend)
  •   52 week performance  +11.41%   YTD performance  +5.75%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 9/21 up  @   2,163.12   +23.36  (+1.09%)
:: Closed   (above 9/21 PP)  (above 9/22 PP)
  •   :: Pivot point (PP)  2155.93
  •   Support (s1)  2146.76        Support (s2)  2130.39
  •   Resistance (r1)  2172.30     Resistance (r2)  2181.47
  •   Simple Moving Average (Close 50):  2168.49         (uptrend)
  •   52 week performance  +11.57%  YTD performance  +5.83%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 9/21 up  @  1,198.97  +13.03 (+1.10%)
:: Closed   (above 9/21 PP)  (above 9/22 PP)
  •   :: Pivot point (PP)   1194.92
  •   Support (s1)  1189.81      Support (s2)  1180.65
  •   Resistance (r1)  1204.08   Resistance (r2)  1209.19
  •   Simple Moving Average (Close 50):  1201.33          (uptrend)
  •   52 week performance  +10.56%   YTD performance  +5.93%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 9/21 up  @  1,245.04  +16.71 (+1.36%)
:: Closed  (above 9/21 PP)  (above 9/22 PP)
  •   :: Pivot point (PP)  1239.47
  •   Support (s1)   1233.70      Support (s2)   1222.36
  •   Resistance (r1)  1250.81    Resistance (r2)  1256.58
  •   Simple Moving Average (Close 50):  1227.20          (uptrend)
  •   52 week performance  +8.92%    YTD performance   +9.61%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 9/21 up   @  1,280.85  +14.17 (+1.12%)
:: Closed   (above 9/21 PP)  (above 9/22 PP)
  •   :: Pivot point (PP)   1276.41
  •   Support (s1)   1270.93     Support (s2)  1261.00
  •   Resistance (r1)  1286.34   Resistance (r2)  1291.82
  •   Simple Moving Average (Close 50):   1281.70          (uptrend)
  •   52 week performance   +11.09%    YTD performance  +6.20%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 9/21 down  @   16.88  -0.08 (-0.47%)
:: Closed   (below 9/20 PP)  (above 9/21 PP)
  •   :: Pivot point (PP)    16.85
  •   Support (s1)    16.45      Support (s2)  16.23
  •   Resistance (r1)  17.07     Resistance (r2)  17.47
  •   Simple Moving Average (Close 50):  15.77          (uptrend)
  •   Simple Moving Average (Close 200)  18.14          (downtrend)
  •   :: Close (180 days) above/below (+/-) sma200  (-1.463) pts., or (-8.066%)
  •   :: 52 week performance  -22.20%   YTD performance  -26.49%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 9/21 down  @  13.30  -2.62 (-16.46%)
:: Closed  (below 9/21 PP)  (below 9/22 PP)
  •   :: Pivot point (PP)    13.98
  •   Support (s1)    12.30      Support (s2)   11.31
  •   Resistance (r1)  14.97     Resistance (r2)  16.65
  •   Simple Moving Average (Close 50):  13.10         (uptrend)
  •   :: 52 week performance   -43.33%   YTD performance  -26.96%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Thursday, 9/22/2016

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 18393.50  …  18207.64
  •   Nasdaq……..  5330.02  …   5264.56
  •   S&P 500 ……  2176.89  …   2151.35
  •   Russell 1000 .  1206.64  …   1192.37
  •   Russell 2000 .  1253.70  …   1236.59
  •   Russell 3000 .  1289.08  …   1273.67
  •   CBOE TNX ……   16.96  …     16.34
  •   Volatility …    14.48  …     11.81
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • DJI Avg   ..  18668.44 ..  15450.56 .. (17425.03)  n/c
  • Nasdaq …..   5299.40 c+   4209.76 ..  (5007.41)  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)   1261.12 ..    943.10 ..  (1135.89)  n/c
  • Rus 3k (RUA)   1297.26 ..   1056.45 ..  (1206.10)  n/c
  • CBOE (TNX) ….. 23.77 …    13.36 …   (22.69)  n/c
  • Volatility(VIX)  32.09 …    11.02 …   (18.21)  n/c
  •    —     —     —     —     —     —
  •   n/c* =no change  c-* =changed lower  c+* =changed higher

—  Monday, 9/19/2016   thru    Friday 9/23/2016  ——

Hope the above Index Support and Resistance calculations for Thursday, 9/22/2016  help your investing and trading planning today …

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5 thoughts on “Index Support and Resistance for Thursday (9/22/2016)

  1. Vet Thanks for your news feed and work. I am new to charts yet would like to learn.
    When I look at yesterdays chart that you enclosed how do I read this, do you have a link that describes support / resistance charts.

    I know do your own R & R however with your knowledge.. you might have a great link!

    Thanks again
    Kim

    Liked by 1 person

    1. Hello Kim J and thanks for your great question.

      Support and Resistance are projections calculated from intraday and end of day trading data. I should have a separate reference linked to each blog for new persons such as yourself. I am working on that.

      Every recorded trade, or exchange of shares, is an agreement on price between one or more Buyers and Sellers. Sellers and Shorts, are considered to be Bearish. Buyers are considered to be Bullish. Resistance occurs where sellers (a.k.a. Bears) may be willing, or asking for higher prices for their shares … but Buyers (Bulls) do not want to pay more. Support prices are where enough Buying (Bulls) occurs causing security prices to gain even if Sellers (Bears) are willing, or trying to sell, or short at lower prices.

      If we track the lowest prices, or points, the open, the highs, and the close of each period, and the lowest prices are going up … then the Bulls are in charge. If we also track the highest prices, or points, the open, the highs, and the close of each period, and the highest prices are heading lower … then the Bears are in charge.

      It’s your money. So, based on learning, knowing and using, your own tolerance for RISK, either with the help of your Financial Advisor, or your accountant, you can then use pivot points, supports resistances, projected highs/lows, and more to aide in your decisions to either hold, buy, or sell, and maybe even short securities.. . by calculating the Reward versus RISK Ratio.

      There’s more but I’ll put that in the article and I hope this helps.

      Like

      1. Thanks Vet, I’ll watch for a while…

        When you crunch your numbers will your support number match another persons or are they all relative to the indicators each is using?

        Liked by 1 person

  2. Hello Kim J and thanks for another great question. There are hundreds of indicators and the results depend on the equations, the decision tree, the time frame, the math, and more. So, as an example with my Micron blog, you’ll see the Daily-Weekly-Monthly (d-w-m) Pivot Points, Supports, Resistances, and more and notice these numbers are not the same. Most analysts will draw a line on a chart. Many articles on the internet include charts provided from other places … so, I can’t be certain if the author including someone else’s charts would even know how the supports came to be calculated …

    It’s your money, so watching, and practicing on paper before you RISK your money is always prudent. If I may suggest going to your local library, and look for books on charting and of calculating supports, resistances, and other indicators … like:

    “Technical Analysis from A to Z” by Steven B. Achelis

    I am working on a draft article (Part 1) explaining how to calculate the numbers I am showing every day … including the equations … but there is a whole lot more … and trying to reduce “geek technical speak” a.k.a. “jargon” to understandable terms takes time.

    Like

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