FOR 1/13 SPX resistance, pivot & support
Resistance R3 1856.92, R2 1850.03, R1 1846.20
Pivot Point 1839.31
Support S1 1835.48, S2 1828.59, S3 1824.76
Resistance R3 1856.92, R2 1850.03, R1 1846.20
Pivot Point 1839.31
Support S1 1835.48, S2 1828.59, S3 1824.76
For Weekly 1/13 -1/17 SPX weekly resistance, pivot & support
Resistance R3 1868.65, R2 1855.94, R1 1849.15
Pivot Point 1836.44
Support S1 1829.65, S2 1816.94, S3 1810.15
Resistance R3 1868.65, R2 1855.94, R1 1849.15
Pivot Point 1836.44
Support S1 1829.65, S2 1816.94, S3 1810.15
The USA
stock Quite a choppy week. After Monday’s SPX 1824 low we see SPX counted seven
sub waves between SPX 1830 and 1843. But
other INDEX for the week was mixed in the SPX/DOW,
the NDX/NAZ was +0.85%, and the DJ World index gained 0.6%. On the economic
front positive reports remained in control. On the up tick: factory orders, the
ADP index, wholesale inventories, the WLEI,
long term investor Sentiment; plus the unemployment rate, weekly jobless claims
and the trade deficit all improved. On the downtick: ISM services, consumer credit,
monthly payrolls, and the monetary base. Next week lots of economic data,
highlighted by the FED’s beige book, Retail
sales, the CPI/PPI and Industrial
production. Best to your week!
Short term SPX support is at the 1841 and 1828 pivots, with
resistance at SPX 1849 and the 1869 pivot. Short term momentum ended the week
overbought. The short term OEW charts have been vacillating since the year
began, and are currently positive with the reversal level at SPX 1836.
After Minute wave b concludes, which may reach SPX 1847-1849
if not done, a Minute wave c lower should end the entire Minor wave 2 pullback.
Mostly likely support is around SPX 1814, with the 1828 pivot range on the high
end and SPX 1800 on the low end. With retail sales Tuesday, the FED’s
beige book Wednesday and options expiration Friday, it should be an interesting
week.
Support for the SPX remains at 1841, 1828, 1800 and then 1779,
resistance at 1849 and then 1869.
FOREIGN MARKETS
Asian market were mixed on the week for a net loss of 0.8%.
European markets were all higher for a net gain of 2.2%.
The Commodity equity group were mixed for a net loss of
1.4%.
The DJ World index is still uptrending and gained 0.6%.
COMMODITIES
Bonds are still down trending but gained 0.8% on the week.
Crude is also downtrending and lost 1.4% on the week.
Gold continues to try to confirm an uptrend and gained 0.9%
on the week.
The USD is uptrending but lost 0.4% on the week.
Monday: the Treasury budget, surplus forecasted, at 2pm. Tuesday: Retail sales, Export/Import
prices and Business inventories. Wednesday: PPI, NY FED
and the FED’s beige book. Thursday: weekly Jobless
claims, CPI, Philly FED,
and NAHB housing index. Friday: Options expiration, Housing starts, Building
permits, Industrial production, and Consumer sentiment. As for the FED:
Senate testimony by Director Gibson on Wednesday. Best to your weekend, week
and new year!
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
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