Index Support and Resistance for Friday (9/30/2016)

 

  Here we are at Friday the last trading day of the week and the 30th and final day of September 2016.  The last trading day of September is also the last trading day of the quarter and for funds needing to conduct “window dressing”, the last opportunity to do so before their reports to shareholders.
  Deutsche Bank’s (DB) US mortgage woes with the US government is a thorn in the heal of German Banks, EU Banks, and not surprising when it comes to Mr. & Ms. Fickle Markets … USA’s Banks, the USA  Financial Sector, Financial Sector Exchange Traded Funds (ETFs) and Financial Sector Exchange Traded Notes (ETNs).  The markets are equating DB to Lehman … and the US Government allowed Lehman to fail bringing about the USA and global markets meltdown …   In this case the markets are worried that it will be the German government that will let DB fail.   For those doing their own homework, this could be another Financial Sector “buying” opportunity in USA stocks that have cleaned up their act, taking advantage of the markets tendency to over-react and toss good to great sector related stocks out with the news troubled and just plain bad.
 Not all is lost however
  US Federal Reserve Chairperson Janet Yellen says the Fed will buy US stocks, if the US Congress passes legislation allowing the Fed authority to do so.  Ms. J. Yellen also stated the following:  “Well, the Federal Reserve is not permitted to purchase equities. We can only purchase U.S. treasuries and agency securities. I did mention in a speech in Jackson Hole, though, where I discussed longer term issues and difficulties we could have in providing adequate monetary policy. Accommodation may be somewhere in the future, down the line that this is the kind of thing that Congress might consider, but if you were to do so, it’s not something that the Federal Reserve is asking for.”
         ————————————
  Below you will find the Index Support and Resistance for Friday, 9/30/2016 as calculated from the changes in Index points through Thursday, 9/29/2016’s close.    See  below for Section IV. Index “projected” Highs and Lows for today’s day and date.
         ————————————
index-chart-20160929

 I.  Index performance Thursday, 9/29/2016

  • DJ Indu Avg  18,143.45  -195.79  (-1.07%)    (chart: blue)
  • Nasdaq  …      5,269.15   -49.39  (-0.93%)    (chart: gold)
  • S&P 500 ….     2,151.13   -20.24  (-0.93%)    (chart: red )
  •   ——————————————-
  • DJ Trans Avg  7,984.86   -20.08  (-0.25%)
  • Rus 1k (RUI)  1,192.89  -11.37  (-0.94%)
  • Rus 2k (RUT)  1,237.75  -17.91  (-1.43%)
  • Rus 3k (RUA)  1,274.28  -12.62  (-0.98%)
  • CBOE (TNX)       15.57   -0.10  (-0.64%)
  • Volatility(VIX)  14.02   +1.63 (+13.16%)
 I. a. Select stocks of interest, from Thursday, 9/29/2016
  • AAPL … 112.18
  • C ……  45.80
  • CHK ….   6.12
  • DHT ….   4.05
  • FH …..   2.64
  • GE …..  29.53
  • JCP ….   9.25
  • MPC ….  39.74
  • MU …..  17.54  +0.10 (0.57%)   After Hours: 17.64 +0.10 (0.57%)
  • VZ …..  52.12
  •      select ETFs …
  • DIA …  181.22
  • QQQ …  117.84
  • SPY …  214.68
  • GLD …  126.07
  • SLV ….  18.11
  • IWD …  104.70
  • IWF …  103.53
  • IWM …  122.86
  • IWV …  127.22
 
I. b. Sector summary from Thursday, 9/29/2016
 
Sector Change +/-% (best (or least worst) to worst)
  • Energy ……………………………….. +0.41%
  • Technology ………………………. -0.51%
  • Non-Cyclical Cons. Goods ……. -0.52%
  • Basic Materials ………………… -0.59%
  • Industrials …………………… -0.67%
  • Telecommunications Srvcs ……. -0.67%
  • Cyclical Cons. Goods …………… -0.85%
  • Utilities ………………………… -1.30%
  • Financials ……………………. -1.41%
  • Healthcare ………………… -1.97%

II. Bonds, and/or Currencies, and/or Commodities from Thursday, 9/29/2016

 
  II. a.  USA  Bonds
  • 3 Month  0.20%  +0.01 (+5.26%)
  • 6 Month  0.42%  -0.01 (-2.33%)
  •  2 Year  0.72%  -0.05 (-6.49%)
  •  5 Year  1.10%  -0.04 (-3.51%)
  • 10 Year  1.56%  -0.04 (-2.50%)
  • 30 Year  2.27%  -0.04 (-1.73%)
II. b.     Currencies
  • AUD/USD .. 0.7632  -0.0061 (-0.80%)
  • EUR/USD .. 1.1222  -0.0002 (-0.01%)
  • GBP/USD .. 1.2970  -0.0067 (-0.52%)
  • USD/CAD .. 1.3146  +0.0082 (+0.62%)
  • USD/CNY .. 6.6681  -0.0080 (-0.12%)
  • USD/HKD .. 7.7558  +0.0017 (+0.02%)
  • USD/JPY  101.1535  +0.2015 (+0.20%)
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 Friday, 9/30/2016

 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 9/29 down  @  18,143.45  -195.79  (-1.07%)
:: Closed   (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)   18200.44
  •   Support (s1)  18034.65       Support (s2)   17925.85
  •   Resistance (r1)   18309.24   Resistance (r2)   18475.03
  •   Simple Moving Average (Close 50):    18402.25       (downtrend)
  •   52 week performance  +11.41%  YTD performance  +4.12%
( 2) For the Nasdaq Comp (INDEX NASDAQ: .IXIC) (ETF: QQQ)
Closed 9/29 down  @    5,269.15   -49.39  (-0.93%)
:: Closed   (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)  5280.22
  •   Support (s1)   5243.45      Support (s2) 5217.74
  •   Resistance (r1)  5305.93    Resistance (r2)  5342.70
  •   Simple Moving Average (Close 50):  5217.12          (uptrend)
  •   52 week performance  +13.88%   YTD performance  +5.23%
( 3) For the S&P 500 (INDEX SP: .INX) (ETF: SPY)
Closed 9/29 down  @   2,151.13   -20.24  (-0.93%)
:: Closed   (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)  2156.33
  •   Support (s1)  2140.00        Support (s2)  2128.86
  •   Resistance (r1)  2167.47     Resistance (r2)  2183.80
  •   Simple Moving Average (Close 50):  2168.27         (down tick)
  •   52 week performance  +11.82%  YTD performance  +5.24%
( 4) For the Russell 1000 (INDEX RUSSELL: RUI) (ETF: IWD)
Closed 9/29 down  @  1,192.89  -11.37  (-0.94%)
:: Closed   (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)   1195.83
  •   Support (s1)  1186.74      Support (s2)  1180.58
  •   Resistance (r1)  1201.99   Resistance (r2)  1211.08
  •   Simple Moving Average (Close 50):  1201.49          (down tick)
  •   52 week performance  +11.65%   YTD performance  +5.39%
( 5) For the Russell 2000 (INDEX RUSSELL: RUT)  (ETF: IWM)
Closed 9/29 down  @  1,237.75  -17.91  (-1.43%)
:: Closed  (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)  1243.40
  •   Support (s1)   1231.21      Support (s2)   1224.67
  •   Resistance (r1)  1249.94    Resistance (r2)  1262.13
  •   Simple Moving Average (Close 50):  1232.64          (uptrend)
  •   52 week performance  +12.45%    YTD performance   +8.97%
( 6) For the Russell 3000 (INDEX RUSSELL: RUA)
Closed 9/29 down   @  1,274.28  -12.62  (-0.98%)
:: Closed   (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)   1277.56
  •   Support (s1)   1267.78     Support (s2)  1261.28
  •   Resistance (r1)  1284.06   Resistance (r2)  1293.84
  •   Simple Moving Average (Close 50):   1282.55          (uptrend)
  •   52 week performance   +9.92%    YTD performance  +5.65%
( 7) For the CBOE Interest Rate 10 Year T Note (INDEX CBOE: TNX)
Closed 9/29 down  @   15.57   -0.10  (-0.64%)
:: Closed   (below 9/29 PP)  (below 9/30 PP)
  •   :: Pivot point (PP)    15.67
  •   Support (s1)    15.33      Support (s2)  15.09
  •   Resistance (r1)  15.91     Resistance (r2)  16.25
  •   Simple Moving Average (Close 50):  15.84          (uptrend)
  •   Simple Moving Average (Close 200)  17.95          (downtrend)
  •   :: Close (186 days) above/below (+/-) sma200  (-2.376) pts., or (-13.239%)
  •   :: 52 week performance  -23.75%   YTD performance  -31.38%
( 8) For the Volatility S&P500 (INDEX CBOE: VIX)
Closed 9/29 up  @  14.02   +1.63 (+13.16%)
:: Closed  (above 9/29 PP)  (above 9/30 PP)
  •   :: Pivot point (PP)    13.95
  •   Support (s1)    12.21      Support (s2)   10.40
  •   Resistance (r1)  15.76     Resistance (r2)  17.50
  •   Simple Moving Average (Close 50):  13.18         (uptrend)
  •   :: 52 week performance   -33.05%   YTD performance  -23.01%
  •     –   –   –   –           –   –   –   –

 IV.  Index “projected” Highs and Lows for Friday, 9/30/2016

  • Index,  :: Projected High,  Projected Low
  •   Dow Jones …. 18254.84  …  17980.25
  •   Nasdaq……..  5293.08  …   5230.60
  •   S&P 500 ……  2161.90  …   2134.43
  •   Russell 1000 .  1198.91  …   1183.66
  •   Russell 2000 .  1246.67  …   1227.94
  •   Russell 3000 .  1280.81  …   1264.53
  •   CBOE TNX ……   15.79  …     15.21
  •   Volatility …    16.63  …     13.08
 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 Friday, 9/30/2016   help your investing and trading planning today …

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s