Index Support and Resistance for Thursday (9/29/2016)

 

  Here we are, down to the last two trading days, and the last week in September 2016.
  It looks like OPEC, specifically Saudi Arabia, finally came to its senses.  Saudi Arabia’s game plan was a fundamentally flawed strategy doomed to FAILURE from the get go.   ALL the crude they’ve sold at economic warfare prices is monies they’ll NEVER recover.  Monies many OPEC members’ economies, like Venezuela’s couldn’t afford to lose.   Saudi Arabia is spending monies to transport and store its unsold crude in Japan and China.  Yep, UNSOLD Saudi Arabia crude … paying for transportation and storage, with NO IDEA when, or if that crude will be sold, has got to HURT.
  Reality sinking in.
  What OPEC members have done, even to themselves, has decimated the future supply of crude oil as cap-ex virtually went to ZERO.  As to those worried about shale crude, it has to be blended to be refined, and refiners already know the penalties for pushing the shale crude blend limits.  Yes, there’s more … in the blog in draft.
         ————————————
  Below you will find the Index Support and Resistance for Thursday, 9/29/2016 as calculated from the changes in Index points through Wednesday, 9/28/2016’s close.    See  below for Section IV. Index “projected” Highs and Lows for today’s day and date.
         ————————————

index-chart-20160928

 I.  Index performance Wednesday, 9/28/2016

  • DJ Indu Avg  18,339.24  +110.94  (+0.61%)    (chart: blue)
  • Nasdaq ….       5,318.55   +12.84  (+0.24%)    (chart: gold)
  • S&P 500  ….    2,171.37   +11.44  (+0.53%)    (chart:  red)
  •   ——————————————-
  • DJ Trans Avg  8,004.94   +23.85  (+0.30%)
  • Rus 1k (RUI)   1204.26    +6.62  (+0.55%)
  • Rus 2k (RUT)   1255.67    +9.29  (+0.74%)
  • Rus 3k (RUA)   1286.90    +7.26  (+0.57%)
  • CBOE (TNX)       15.67    +0.11  (+0.71%)
  • Volatility(VIX)  12.39    -0.71  (-5.42%)
 I. a. Select stocks of interest, from Wednesday, 9/28/2016
  • AAPL … 113.95  +0.86 (+0.76%)   After Hours: 113.85 -0.10 (-0.09%)
  • C ……  46.87  +0.50 (+1.08%)   After Hours:  46.91 +0.04 (+0.09%)
  • CHK ….   6.75  +0.52 (+8.35%)   After Hours:   6.79 +0.04 (+0.59%)
  • DHT ….   4.16  +0.03 (+0.73%)   After Hours:   4.18 +0.02 (+0.48%)
  • FH …..   2.70  -0.04 (-1.46%)   After Hours:   2.74 +0.04 (+1.48%)
  • GE …..  29.90  +0.02 (+0.07%)   After Hours:  29.91 +0.01 (+0.03%)
  • JCP ….   9.55  +0.00 (+0.00%)   After Hours:   9.56 +0.01 (+0.10%)
  • MPC ….  42.64  +0.79 (+1.89%)   After Hours:  42.64 +0.00 (+0.00%)
  • MU …..  17.44  -0.56 (-3.11%)   After Hours:  17.47 +0.03 (+0.17%)
  • VZ …..  52.06  -0.43 (-0.82%)   After Hours:  52.06 +0.00 (+0.00%)
  •      select ETFs …
  • DIA …  183.10  +1.10 (+0.60%)
  • QQQ …  118.70  +0.20 (+0.17%)   After Hours: 118.70 +0.00 (+0.00%)
  • SPY …  216.64  +1.07 (+0.50%)
  • GLD …  126.22  -0.40 (-0.32%)
  • SLV ….  18.21  +0.04 (+0.22%)
  • IWD …  105.71  +1.02 (+0.97%)
  • IWF …  104.42  +0.12 (+0.12%)
  • IWM …  124.68  +0.95 (+0.77%)
  • IWV …  128.41  +0.68 (+0.53%)
 I. b. Sector summary from Wednesday, 9/28/2016
Sector Change +/-% (best (or least worst) to worst)
  • Energy ……………………… +3.75% 
  • Basic Materials ……………… +2.21% 
  • Non-Cyclical Cons. Goods ……… +0.68%
  • Industrials …………………. +0.66% 
  • Financials ………………….. +0.60%  
  • Technology ………………….. +0.40%
  • Utilities …………………… +0.19%
  • Telecommunications Srvcs ……… +0.17% 
  • Cyclical Cons. Goods …… -0.01% 
  • Healthcare ……………. -0.01% 

 II. Bonds, and/or Currencies, and/or Commodities from Wednesday, 9/28/2016

  II. a.  USA  Bonds
  • 3 Month  0.22%  +0.01 (+4.76%)
  • 6 Month  0.43%  +0.00 (+0.00%)
  •  2 Year  0.75%  +0.02 (+2.74%)
  •  5 Year  1.12%  +0.01 (+0.90%)
  • 10 Year  1.57%  +0.01 (+0.64%)
  • 30 Year  2.29%  +0.01 (+0.44%)
  II. b.  Currencies
  • AUD/USD .. 0.7701  +0.0008 (+0.10%)
  • EUR/USD .. 1.1231  +0.0007 (+0.06%)
  • GBP/USD .. 1.3026  -0.0011 (-0.09%)
  • USD/CAD .. 1.3057  -0.0008 (-0.06%)
  • USD/CNY .. 6.6676  -0.0086 (-0.13%)
  • USD/HKD .. 7.7537  -0.0004 (-0.01%)
  • USD/JPY  101.3150  +0.3630 (+0.36%)
 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, 9/29/2016

 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 9/28 up  @  18,339.24  +110.94  (+0.61%)
:: Closed   (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)   18289.48
  •   Support (s1)  18229.10       Support (s2)   18118.96
  •   Resistance (r1)   18399.62   Resistance (r2)   18460.00
  •   Simple Moving Average (Close 50):    18411.28       (downtrend)
  •   52 week performance  +14.27%  YTD performance  +5.25%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 9/28 up  @    5,318.55   +12.84  (+0.24%)
:: Closed   (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)  5308.00
  •   Support (s1)   5295.39      Support (s2) 5272.22
  •   Resistance (r1)  5331.17    Resistance (r2)  5343.78
  •   Simple Moving Average (Close 50):  5213.53          (uptrend)
  •   52 week performance  +15.12%   YTD performance  +6.21%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 9/28 up  @   2,171.37   +11.44  (+0.53%)
:: Closed   (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)  2165.19
  •   Support (s1)  2157.97        Support (s2)  2144.58
  •   Resistance (r1)  2178.58     Resistance (r2)  2185.80
  •   Simple Moving Average (Close 50):  2168.71         (up tick)
  •   52 week performance  +13.09%  YTD performance  +6.23%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 9/28 up  @  1204.26    +6.62  (+0.55%)
:: Closed   (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)   1200.69
  •   Support (s1)  1196.59      Support (s2)  1188.91
  •   Resistance (r1)  1208.37   Resistance (r2)  1212.47
  •   Simple Moving Average (Close 50):  1201.69          (up tick)
  •   52 week performance  +14.83%   YTD performance  +6.39%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT) (ETF: IWM)
Closed 9/28 up  @  1255.67    +9.29  (+0.74%)
:: Closed  (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)  1250.73
  •   Support (s1)   1245.53      Support (s2)   1235.38
  •   Resistance (r1)  1260.88    Resistance (r2)  1266.08
  •   Simple Moving Average (Close 50):  1232.08          (uptrend)
  •   52 week performance  +15.85%    YTD performance   +10.55%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 9/28 up   @  1286.90    +7.26  (+0.57%)
:: Closed   (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)   1283.00
  •   Support (s1)   1278.56     Support (s2)  1270.21
  •   Resistance (r1)  1291.35   Resistance (r2)  1295.79
  •   Simple Moving Average (Close 50):   1282.36          (up tick)
  •   52 week performance   +12.64%    YTD performance  +6.70%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 9/28 up  @   15.67    +0.11  (+0.71%)
:: Closed   (above 9/28 PP)  (above 9/29 PP)
  •   :: Pivot point (PP)    15.61
  •   Support (s1)    15.49      Support (s2)  15.32
  •   Resistance (r1)  15.78     Resistance (r2)  15.90
  •   Simple Moving Average (Close 50):  15.84          (uptrend)
  •   Simple Moving Average (Close 200)  17.98          (downtrend)
  •   :: Close (185 days) above/below (+/-) sma200  (-2.306) pts., or (-12.828%)
  •   :: 52 week performance  -23.93%   YTD performance  -30.94%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 9/28 down  @  12.39    -0.71  (-5.42%)
:: Closed  (below 9/28 PP)  (below 9/29 PP)
  •   :: Pivot point (PP)    12.73
  •   Support (s1)    11.90      Support (s2)   11.40
  •   Resistance (r1)  13.23     Resistance (r2)  14.06
  •   Simple Moving Average (Close 50):  13.15         (uptrend)
  •   :: 52 week performance   -45.06%   YTD performance  -31.96%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Thursday, 9/29/2016

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 18429.81  …  18259.29
  •   Nasdaq……..  5337.48  …   5301.70
  •   S&P 500 ……  2182.19  …   2161.58
  •   Russell 1000 .  1210.42  …   1198.64
  •   Russell 2000 .  1263.48  …   1248.13
  •   Russell 3000 .  1293.57  …   1280.78
  •   CBOE TNX ……   15.70  …     15.41
  •   Volatility …    12.98  …     11.65
 V.  Index: 52week High,  52week Low, (Close 12/31/15)
  • DJI Avg   ..  18668.44 ..  15450.56 .. (17425.03)  n/c
  • Nasdaq …..   5342.88 ..   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)   1263.46 ..    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, 9/26/2016   thru    Friday 9/30/2016  ——

Hope the above Index Support and Resistance calculations for Thursday, 9/29/2016   help your investing and trading planning today …

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