FOR 9/1 SPX resistance, pivot & support
Resistance R3 2015.02, R2 2009.20, R1 2006.29
Pivot Point 2000.47
Support S1 1997.56 , S2 1991.74, S3 1988.83
For Weekly 9/2-9/6 SPX weekly resistance, pivot & support
Resistance R3 2020.52, R2 2011.95, R1 2007.66
Pivot Point 1999.09
Support S1 1994.80, S2 1986.23, S3 1981.94
US markets started the week with a gap up opening on Monday,
hit SPX 2005 on Tuesday before noon,
then traded in a 14 point range for the rest of the week. For the week the SPX/DOW
were +0.7%, the NDX/NAZ were +0.8%, and the DJ World index gained 0.6%. On the
economic front positive reports outpaced negatives ones, led by a Q2 GDP
+4.2%. On the uptick: new/pending homes sales, durable goods orders, the FHFA,
consumer confidence/sentiment, Q2 GDP,
personal income, the PCE, and the Chicago PMI.
On the downtick: the WLEI, Case-Shiller, and personal spending. Next week will
be highlighted by the FED’s beige book, ISM,
and the Payrolls report.
Short term support is at SPX 1985 and the 1973 pivot, with
resistance at SPX 2005 and the 2019 pivot. Short term momentum ended the week
overbought. The short term OEW charts turned positive with the reversal level
now SPX 1998.
Support for the SPX remains at 1985, 1973, 1960 and then
1930 resistance at 205 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 lower for a net loss of 0.5%.
European markets were all higher for a net gain of 1.8%.
The Commodity equity group were mixed for a net gain of
0.1%.
The DJ World index gained 0.6%.
COMMODITIES
Bonds continue to uptrend gaining 0.4%.
Crude is still down trending, but gained 2.7%.
Gold remains in a downtrend but gained 0.5%.
The USD continues to uptrend and gained 0.4%.
NEXT WEEK
Earning Calendar September 2-6, 2014
Tuesday: ISM manufacturing and Construction spending at 10am. Wednesday: Factory orders, Auto sales and
the FED’s beige book. Thursday: ADP,
weekly Jobless claims, the Trade deficit, ISM services, and a speech from FED
governor Powell. Friday: Payrolls and the Unemployment rate. Best to your three
day 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
COMPAQ
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