Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

$DIA, $SPY, $QQQ, $VXX

Last week we saw a modest rise, no Santa Claus Reindeer drive through DJIA 20000, perhaps this week, as the indexes are still working on patterns.

The leaders were flat, as the money moves toward smaller bio-techs.

It remains to be seen if the final week between Christmas in to the New Year brings more good cheer.

dj30q32016

                                                                                     Tracking The Trump Rally on the DJIA

DJIA 14.93% YTD

S&P 500 2.83%  YTD

NAS Comp 15.27% YTD

It is an open question whether the major US stock market indexes will will rally this week in to year end  with high Bullishness and the indices standing on all time highs

We wait,we see, expecting trade to be light.

The Bulls Vs The Bears

bulls-and-bears-thestockradio

Sentiment Indicators

VIX: 11.44; +0.01
VXN: 13.24; -0.18
VXO: 11.09; 0

Put/Call Ratio (PCR) CBOE: 0.86; -0.03. Put activity has picked up the past week as big funds are buying
downside protection at these last new highs. .

The Bulls are at 59.8 Vs 59.6 last

The Bears are at 19.6 Vs 19.2 last

 

Support and Resistance

 

support-resistance-basics

DJIA close: 19,933.81

Resistance:

NIL
Support
The 10-Day EMA: 19,834
The 20-Day EMA: 19,613
The 50-Day EMA: 19,130
The 50-Day SMA: 18,904
18,669 the Aug 2016 high
18,595 the Jul 2016 high
18,351 the May 2015 high
18,288 the Mar 2015 high
18,247 the Aug 2016 low
The 200-Day SMA: 18,247

 

S&P 500 close: 2263.79

Resistance

NIL

Support
The 10-Day EMA: 2257
2232 the Y 2016 trendline
2213 the Nov 2016 high
The 50-Day EMA: 2205
2194 the Aug 2016 high
The 50-Day SMA: 2185
2175 the Jun 2016 high
2135 the May 2015 high
The 200-Day SMA: 2132

 

NAS Comp close: 5462.69

Resistance

NIL

Support
5404 the Nov 2016 high
5389 the Y 2016 trendline
5340 the Oct 2016 high
The 50-Day EMA: 5338
The 50-Day SMA: 5305
5288 the Sept 2016 high
5271 the Aug 2016 high
5232 the Y 2015 high
5170 the Oct 2016 low.
5162 a Nov 2016 high
5100 a May 2016 high
The 200-Day SMA: 5080

Best wishes for a prosperous New Year

Back on Tuesday, 3 January

 

 

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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