Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street


Investors did not receive any economic data Friday, nor will they receive any economic data Monday

Noting new happened at the weekend that impacts Monday action.

Some are talking about The Trump Rally extending in here, if it does the rule is let winners run, and add new issues with good patterns that break North.

There is nothing in the technicals the indicate the markets’ Key patterns have changed, i.e. that after new highs are hit and some more rallying on Top of the new high, the selling comes on, the buying on the dips come in.

We could really use a pullback to an October bottom, and then a resumption of the rally to new highs into years end, that’s the picture as I prefer it.

And that is the move Shayne and I are anticipating as the most probable but of course, we always take what the market gives. And are always ready for the action, North, South or Sideways.

So, pay attention, it is your money and your responsibility, winning is the goal in any game.


The Bulls Vs The Bears

Sentiment Indicators

VIX: 9.59; -0.08
VXN: 13.81; +0.10
VXO: 7.89; -0.02

Put/Call Ratio (PCR) CBOE: 0.98; +0.14

The Bulls Vs The Bears: Bulls dropped as the rally started, and now jumping up just as the rally may set to pause and refresh, typical.

The Bulls are at 50.5 Vs 47.1 last

The Bears are at 19.0 Vs 20.2 lost


Support and Resistance

DJIA close: 22,349.59



The 10-Day EMA: 22,251
22,179 the Aug 2017 high
22,086 a Aug 2017 high
The 50-Day EMA: 21,901
21,681 the Jul 2017 high
21,638 the Jul 2017 high
21,529 the Jun 2017 high
21,169 the Mar 2017 high
The 200-Day SMA: 20,962


S&P 500 close: 2502.22


2508 the upper channel line from the 9 March 2009 reversal

2491 the Aug 2017 high
2480 a Aug 2017 high
The 50-Day EMA: 2467
2453 the Jun 2017 high
2409 the Jul 2017 low
2406 the May 2017 high
2401 the Mar 2017 high
The 200-Day SMA: 2382


NAS Comp close: 6426.92

6450 a Sept 2017 high
6461 the Jul 2017 high
6477 the Sept 2017 high

The 50-Day EMA: 6347
6342 the Jun 2017 high
6300 a Jun 2017 high
6288 the Y 2016 trendline
6205 the May 2017 high
The 200-Day SMA: 5998

Have a terrific week.

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