Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street


This is a jam packed week for economic data and earnings reports to Wall Street.  

We will see reports on New Home Sales, Durable Good orders, Q-3 GDP estimate, and more earnings.

This stock market has been holding a lateral range since early September, like marching in place.

While this is going on there are Northside plays in the range, as the indices come off the bottom of the range. That being the case in here look for more Northside to play, as well as some prime Southside plays.

Both are there, so take the Southside and Northside gainer as they come, paying attention to the ranges and the near targets.

As Wall Street see more earnings there will be opportunities to play off of gaps higher and lower as stocks test initial moves.

There are lots of opportunity inside the NYSE ranges until there is clear direction to play longer moves.

Remember, always take what the market gives.

The Bulls Vs The Bears


Sentiment Indicators

VIX: 13.34; -0.41
VXN: 15.37; -0.26
VXO: 13.57; -0.44

Put/Call Ratio (PCR) CBOE: 0.97; -0.02  Nineteen 1.0+ Readings in 6 weeks, 15 of the last 31 sessions over 1.0. A run of sub-1.0 readings the past week-+.

The Bulls are at: 42.9 Vs 46.1 last

The Bears are at: 23.8 Vs 23.1 last

Support and Resistance


DJIA close: 18,153.55

18,168 the Apr 2016 high
18,247 the Aug 2016 low
18,262 the upper Gap mark from last  Monday’s Gap lower.
18,288 the Mar 2015 high
The 50-Day SMA: 18,314
18,351 the May 2015 high
18,400 the Oct 2016 high
18,595 the Jul 2016 high
18,669 the Aug 2016 all-time high

18,100 the Dec 2014 high
18,016 the Jun 2016 high
17,960 the Oct 2016 low
17,992 a Sept 2016 low
17,978 the Nov 2015 high
The 200-Day SMA: 17,671

S&P 500 close: 2141.16

The 50-Day SMA: 2161
2175 the Jun 2016 high
2194 the Aug 2016 all-time high

2135 the May 2015 high
2130 the Jun 2015 high
2126 the Apr 2015 high
2120 the Jun 2016 high
2119 the Sept 2016 low
2116 the Nov 2015 high
2111 the Apr 2016 high
2104 the Dec 2015 high
2094 the Dec 2014 high
2079 the Nov 2014 high
The 200-Day SMA: 2072


NAS Comp close: 5257.40

5271  the Aug 2016 high
5288 the Sept 2016 high
5340 the all-time closing high.

5232 the 2015 high
The 50-Day EMA: 5224
5170 the Oct 2016 low.
5162 a Nov 2015 high
5100 the Apr and May 2016 highs
5042 the Mar 2015 high
5009 a Mar 2015 high
4999 the Oct 2015 upper Gap mark
4980 the Jun 2016 high
4969 the Apr 2016 high
4960 the Sept 2015 high
4920 the lower Gap mark from Oct 2015
4916 a Nov 2015 low
The 200-Day SMA: 4910

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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