Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street


The big economic data and the bulk of the earnings reports are in and digested by Wall Street. But hang on there are still some Key earnings , like Disney (NYSE:DIS) this week. along with JOLTS and MSI .

This Tuesday, 8 November the US voters will elect a new President, after a long and arduous campaign season.

The Plan, staying with good stocks in good patterns, play them up and down. When they tell us to sell, sell them and bank the gainers.

When new buys appear, buy them.

If that is just too complicated, sell out, go to cash and wait for the direct, there will always be a trade.

Note, you do not sell core positions because of a Presidential election, you play the market, yes up and down, North and South.

The name of the Wall Street game is to make money.

Remember, take what the market gives.

The Bulls Vs The Bears


Sentiment Indicators

VIX: 22.51; +0.43
VXN: 23.03; +0.67
VXO: 24.19; +1.52

Put/Call Ratio (PCR) CBOE: 1.37; +0.18

We have seen 6 straight 1.0+ sessions after a string of weeks of below 1.0 readings.  Lots of put buying either for hedging or speculation, 6 straight sessions is enough to help trigger a bounce off of the S&P 500 200-Day MA, and we are seeing it early Monday in the US stock futures markets after 9 straight down days on the S&P 500.

As I write this report at 3:45a ET on 7 November the major US stock index futures are trading at:

Dow Jones mini 3:45a ET Dec 2016     18,040.00  +235.00
S&P 500 mini 3:45a ET Dec 2016            2,107.75    + 27.75
NAS Comp mini 3:45a Dec 2016              4,731.00     +73.25

The Bulls and the Bears have not given us a new signal yet.

The Bulls are at: 41.7 Vs 47.1 last.

The Bears are at 24.3 Vs 23.1 last.


Support and Resistance



DJIA close: 17,890.78

17,960 the Oct 2016 low
17,978 the Nov 2015 high
17,992 a Sept 2016 low
18,016 the Jun 2016 high
18,168 the Apr 2016 high
The 50-Day EMA: 18,184
The 50-Day SMA: 18,221
18,247 the Aug 2016 low
18,288 from Mar 2015
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

The 200-Day SMA: 17,767


S&P 500 close: 2085.18

2094 the Dec 2014 high
2104 the Dec 2015 high
2111 the Apr 2016 high
2116 the Nov 2015 high
2119 the Sept 2016 low
2120 the Jun 2016 high
2126 the Apr 2015 high
2130 the Jun 2015 high
2135 the May 2015 high
The 50-Day EMA: 2140
The 50-Day SMA: 2148
2169 the Y 2016 trendline
2175 the Jun 2016 high
2194 the Aug 2016 all-time high

The 200-Day SMA: 2083


NAS Comp close: 5046.37

5100 from the May 2016 high
5176 the Dec 2015 high
5170 the Oct 2016 low.
The 50-Day EMA: 5206
5221 is the Y 2016 up trendline
5232 the Y 2015 high
The 50-Day SMA: 5239
5271 the Aug 2016 high
5288 the Sept 2016 high
5340 the all-time high.


5042 the Mar 2015 high
5009 a Mar 2015 high
4999 the Oct 2016 upper Gap mark
4980 the Jun 2016 high
4969 the Apr 2016 high
4960 the Sept 2015 high
The 200-Day SMA: 4941

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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