FOR 1/12 SPX resistance, pivot & support
Resistance R3 2086.15, R2 2075.29, R1 2060.05
Pivot Point 2049.19
Support S1 2033.95, S2 2023.09S3 2007.85
For Weekly 1/12-1/16 SPX weekly resistance, pivot & support
Resistance R3 2147.33, R2 2105.88, R1 2075.34
Pivot Point 2033.89
Support S1 2003.35, S2 1961.90, S3 1931.36
The first full week of 2015 starts off like a roller
coaster. The market started the week at SPX 2058. After a gap down opening on
Monday the market dropped to SPX 1992 by midday
Tuesday. Then it rallied to SPX 2064, helped by two gap up openings, by late Thursday
afternoon. Then on Friday it sold off again, hitting SPX 2038 by late morning,
then ending the week at 2045. For the week the SPX/DOW
were -0.60%, the NDX/NAZ were -0.45%, and the DJ World was -0.80%. Economic
reports for the week were generally positive. On the uptick: auto sales, the ADP,
consumer credit, wholesale inventories, the MMIS, plus the unemployment rate,
weekly jobless claims and the trade deficit all improved. On the downtick:
factory orders, ISM services, monthly payrolls and the WLEI. Next week will be
highlighted by the FED’s Beige book, the CPI/PPI
and Industrial production.
This uptrend got off to a good start as it rallied from SPX
1973 to 2094 in only two weeks. Then we observed a nearly 5% decline to SPX
1992 by Tuesday this week.Should the market drop below SPX 2030 it is possible
a retest of 1992 or lower would follow. Once the market clears SPX 2064 Micro 3
should be well underway. Short term support is at SPX 2030 and the 2019 pivot,
with resistance at the 2070 and 2085 pivots. Short term momentum declined after
getting extremely overbought on Thursday.
FOREIGN MARKETS
Asian markets were quite mixed on the week for a net loss of
0.3%.
European market were mostly lower for a net loss of 2.9%.
The Commodity equity group were mixed and lost 0.8%.
The DJ World index lost 0.8%.
COMMODITIES
Bonds continue to uptrend gaining 1.1% on the week.
Crude remains in a prolonged downtrend losing 8.4% on the
week.
Gold is also uptrending gaining 2.2% on the week.
The USD remains in a prolonged uptrend gaining 0.8% on the
week.
The first full week of 2015 starts off like a roller
coaster. The market started the week at SPX 2058. After a gap down opening on
Monday the market dropped to SPX 1992 by midday
Tuesday. Then it rallied to SPX 2064, helped by two gap up openings, by late Thursday
afternoon. Then on Friday it sold off again, hitting SPX 2038 by late morning,
then ending the week at 2045. For the week the SPX/DOW
were -0.60%, the NDX/NAZ were -0.45%, and the DJ World was -0.80%. Economic
reports for the week were generally positive. On the uptick: auto sales, the ADP,
consumer credit, wholesale inventories, the MMIS, plus the unemployment rate,
weekly jobless claims and the trade deficit all improved. On the downtick:
factory orders, ISM services, monthly payrolls and the WLEI. Next week will be
highlighted by the FED’s Beige book, the CPI/PPI
and Industrial production.
This uptrend got off to a good start as it rallied from SPX 1973 to 2094 in only two weeks. Then we observed a nearly 5% decline to SPX 1992 by Tuesday this week.Should the market drop below SPX 2030 it is possible a retest of 1992 or lower would follow. Once the market clears SPX 2064 Micro 3 should be well underway. Short term support is at SPX 2030 and the 2019 pivot, with resistance at the 2070 and 2085 pivots. Short term momentum declined after getting extremely overbought on Thursday.
This uptrend got off to a good start as it rallied from SPX 1973 to 2094 in only two weeks. Then we observed a nearly 5% decline to SPX 1992 by Tuesday this week.Should the market drop below SPX 2030 it is possible a retest of 1992 or lower would follow. Once the market clears SPX 2064 Micro 3 should be well underway. Short term support is at SPX 2030 and the 2019 pivot, with resistance at the 2070 and 2085 pivots. Short term momentum declined after getting extremely overbought on Thursday.
FOREIGN MARKETS
Asian markets were quite mixed on the week for a net loss of
0.3%.
European market were mostly lower for a net loss of 2.9%.
The Commodity equity group were mixed and lost 0.8%.
The DJ World index lost 0.8%.
European market were mostly lower for a net loss of 2.9%.
The Commodity equity group were mixed and lost 0.8%.
The DJ World index lost 0.8%.
COMMODITIES
Bonds continue to uptrend gaining 1.1% on the week.
Crude remains in a prolonged downtrend losing 8.4% on the week.
Gold is also uptrending gaining 2.2% on the week.
The USD remains in a prolonged uptrend gaining 0.8% on the week.
Crude remains in a prolonged downtrend losing 8.4% on the week.
Gold is also uptrending gaining 2.2% on the week.
The USD remains in a prolonged uptrend gaining 0.8% on the week.
NEXT WEEK
Tuesday: Treasury budget. Wednesday: Retail sales,
Export/Import prices, Business inventories and the FED’s
beige book. Thursday: weekly Jobless claims, the PPI, and the NY/Philly FED.
Friday: Industrial production, the CPI,
Consumer sentiment and it is Options expiration.
Tuesday: Treasury budget. Wednesday: Retail sales,
Export/Import prices, Business inventories and the FED’s
beige book. Thursday: weekly Jobless claims, the PPI, and the NY/Philly FED.
Friday: Industrial production, the CPI,
Consumer sentiment and it is Options expiration.
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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