FOR 8/25 SPX resistance, pivot & support
Resistance R3 2001.82, R2 1997.68, R1 1993.04
Pivot Point 1988.90
Support S1 1984.26 , S2 1980.12, S3 1975.48
For Weekly 8/25-8/29 SPX weekly resistance, pivot & support
Resistance R3 2039.05, R2 2016.90, R1 2002.65
Pivot Point 1980.50
Support S1 1966.25, S2 1944.10, S3 1929.85
US markets rise for third week in a row. The week started
off with a gap up on Monday, and then continued to rise every day until Thursday.
When it hit a new all time high at SPX 1995. A pullback on Friday ended the
week at SPX 1988. For the week the SPX/DOW
were +1.85%, the NDX/NAZ were +1.65%, and the DJ World indix rose 1.2%.
Economic reports for the week were all positive until the WLEI down ticked on Friday.
The up ticks: the NAHB, the CPI, housing
starts, building permits, existing home sales, the Philly FED,
leading indicators, the monetary base, and weekly jobless claims declined. Next
week we get an update on Q2 GDP (est.
+4.0%), PCE prices and the Chicago PMI.
Short term support is at SPX 1985 and the 1973 pivot, with
resistance at SPX 1995 and the 2019 pivot. Short term momentum ended the week
just below neutral. The short term OEW charts ended the week at neutral, with
the reversal level at SPX 1988.
Support for the SPX remains at 1985, 1973, 1960 and then 1930
resistance at 1995 and then 2019.Best to your trading what sets up to be a wild
week ahead. Best to your trading!
FOREIGN MARKETS
Asian markets were mostly higher on the week for a net gain
of 0.8%.
European markets were all higher for a net gain of 2.4%.
The Commodity equity group were all higher and gained 1.7%.
The DJ World index gained 1.2% on the week.
COMMODITIES
Bonds continue to uptrend but lost 0.6% on the week.
Crude remains in a steady downtrend losing 3.7% on the week.
Gold could not avoid Silver’s downtrend and lost 1.9% on the
week.
The USD continues to uptrend soaring 1.2% on the week.
NEXT WEEK
Earning Calendar August 25-29, 2014
Monday: New home sales at 10am.
Tuesday: Durable goods, Case-Shiller, the FHFA and Consumer confidence.
Thursday: Q2 GDP, weekly Jobless claims and
Pending home sales. Friday: Personal income/spending, the PCE, Chicago PMI
and Consumer sentiment. Nothing scheduled for the FED.
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
COMPAQ
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