FOR 11/4 SPX resistance, pivot & support
Resistance R3 1780.27, R2 1772.97, R1 1767.30
Pivot Point 1760.00
Support S1 1754.33, S2 1747.03, S3 1741.36
SPX DAILY CHARTS
QUICK LOOK ALL MAJOR INDEX WEEKLY
$SPX with component chart
$VIX
$CPC daily
QQQQ Daily
COMPQ
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Resistance R3 1780.27, R2 1772.97, R1 1767.30
Pivot Point 1760.00
Support S1 1754.33, S2 1747.03, S3 1741.36
FOR Weekly 11/4-11/8 SPX
resistance , pivot & support
Resistance R3 1796.19, R2 1785.70, R1 1773.67
Pivot Point 1763.18
Support S1 1751.15, S2 1740.66, S3 1728.63
Resistance R3 1796.19, R2 1785.70, R1 1773.67
Pivot Point 1763.18
Support S1 1751.15, S2 1740.66, S3 1728.63
Late last week the bulls and
bears are fight but Bulls control market some but small gain in weekly. Weekly
the SPX traveled over 23 point range, through the 1775-1752 range, a 23-handle range. VIX at 14.45-13.06 range. When the VIX moves up near 20 and
higher, this wild behavior will appear meek. The case can be made for both
sides right now. Bulls are happy to see the price close at the 50-day MA at
1698 and 20-day MA at 1737. The bulls are able to print above the 20-day MA so
use that as a major bulls are control the market now.
SPX 1646 has five Minor waves: 1712-1696-1759-1741-1775. The
fifth wave, only 34 points, was the shortest. After that high the market has
declined in an abc to SPX 1756, rallied to 1769, then declined in another abc
to 1753 on Friday. At the second low there was a clear short term positive
divergence, and the market rallied into the close. This decline could be
labeled Minor a of Int. wave iv/d, Friday's rally Minor b, with Minor c to
follow next week. This appears to be the most probable count. There appears to
be good resistance between SPX 1766 and 1769, with good support around SPX
1740. If the market drops into the SPX low 1740′s and then begins to impulse
again the i-ii-iii-iv-v count is in play. If it drops below SPX 1730 then the
a-b-c-d-e count is in play.
Short term support is at SPX 1753 and SPX 1730, with
resistance at the 1779 pivot range and SPX 1804. Short term momentum is rising
off a positive divergence. The short term OEW charts have flip-flopped for two
days now, ended positive, with the reversal level at SPX 1760. Best to your
trading next week.
Support for the SPX remains at
1740, 1720 and then 1700, resistance at 1770 and then 1791.
FOREIGN MARKETS
The Asian markets were mostly higher on the week gaining
0.5%. China, Hong
Kong, Indonesia,
Japan and Singapore
are all in confirmed downtrends.
The European markets were mostly higher but only gained
0.2%.
The Commodity equity group were all lower losing 0.7%.
The DJ World index remains in an uptrend but lost 0.6%.
COMMODITIES
Bonds continue to uptrend but lost 0.5% on the week.
Crude continues to downtrend losing 3.4% on the week.
Gold is trying to uptrend but lost 2.8% on the week.
The USD is up trending again gaining 1.9% on the week.
NEXT WEEK
Monday: Factory orders at 10AM.
Tuesday: ISM services at 10AM.
Wednesday: Leading indicators at 10AM.
Thursday: Q3 GDP, weekly Jobless claims and
Consumer credit. Friday: the monthly Payrolls report, Personal income/spending,
PCE prices and Consumer sentiment. Three speeches on tap for the FED
next week: Monday: FED governor Powell at 11:30; Thursday: FED
governor Stein at 2PM; and Friday: FED
chairman Bernanke at 3:30PM. Best to
your weekend and week!
Take a look some market indicator charts- Click all charts
$SPX - 60 minSPX DAILY CHARTS
QUICK LOOK ALL MAJOR INDEX WEEKLY
$SPX with component chart
$VIX
$CPC daily
QQQQ Daily
COMPQ
For the latest updates on the stock market, visit,
http://daytradingstock-blog.blogspot.com
