Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

$DIA, $SPY, $QQQ, $VXX

The major US NYSE stock market indices are trading in their respective ranges, the Wall Street sellers have been unable to break them down and our their ranges.

As of Friday, they are at the Top of their ranges and trying to follow NAS Comp and SOX to higher highs.

The Trump Administration is proceeding quickly with our nations business, like never seen prior.

Corporate earnings are not having that much impact on the individual stocks, as outside influences are exerting pressure near term, but the Northside bias continues.

Looking at sector patterns tells me that many stocks have set up to move North, suggesting that the market is ready to make a break out of the top of the trading range.

Remember, that sentiment is not a timing device, just a warning. If Wall Street wants to put in another run North it will. So, always take what the market gives, the sentiment is Bullish.

Pay attention in here, it is your money and your responsibility

 

The Bulls Vs The Bears

Sentiment Indicators

VIX: 10.97; -0.96
VXN: 12.78; -0.85
VXO: 10.14; -0.78

Put/Call Ratio (PCR) CBOE: 0.76; -0.1

The Bulls Vs Th Bears

The Bulls made it 3 of 5 weeks over 60, this time hitting 61.8, a new high for this move, it is extreme now.

The Bulls are at 61.8 Vs 58.2

The Bears are at 17.6 Vs 17.5

 

Support and Resistance

DJIA close: 20,071.46

Resistance
20,126 the Jan 2017 high

Support
19,999 a Jan 2017 high
19750 the Jan 2017 range low
The 50-Day SMA: 19,731
The 50-Day EMA: 19,647
18,669 the Aug 2016 high
18,595 the Jul 2016 high
The 200-Day SMA: 18,550

 

S&P 500 close: 2297.42

Resistance:
2301 the Jan 2017 high

Support
2283 the Y 2016 trendline
2282 from Jan 2017
2278 the Dec 2016 high
The 50-Day SMA: 2255
The 50-Day EMA: 2252
2213 the Nov 2016 high
2194 the Aug 2016  high
2175 the Jun 2016 high
The 200-Day SMA: 2161

 

NAS Cop close: 5666.77

Resistance

None

Support
5601 the Jan 2017 lower gap mark
5516 the Y 2016 trendline
The 50-Day EMA: 5493
The 50-Day SMA: 5482
5404  the Nov 2016 high
5340 the Oct 2016 high
5288 the Sept 2016 high
5271 the Aug 2016 high
5232 the Y 2015 high
The 200-Day SMA: 5175

Have a terrific week.

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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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