Commentary: Paul Ebeling on Wall Street
Earnings are Wall Streets’ focus now as the banks started last week and the doors are now open
The Big Q is whether the market has room for more upside on some good earnings after the gains in DJIA, Techs (SOX), NAS Comp and S&P 500.
Another perhaps Bigger Q is whether RUTX and S&P 400, are ready to take up leadership again and move North again getting the rotating money, as the large cap indices may pause to refresh.
We are seeing patterns indicating very good setups to play that move ahead of the pause. So positions in play or newly entered should be allowed to work and then bank the gainers a they come, particularly since October expiration’s come this week.
So, play good moves to the Northside because there are so many good stocks making good moves and in position to continue or start a good move, meaning play the Northside as long as the momentum lasts, say 2 more weeks.
Remember always take what the market gives, it is your money and your responsibility
The Bulls Vs The Bears
VIX: 9.61; -0.30
VXN: 13.97; -0.36
VXO: 7.57; -0.48
Put/Call Ratio (PCR) CBOE: 0.85; -0.20
The Bulls Vs The Bears
This market is getting Very Bullish in here…
The Bulls are at 60.4 Vs 57.5 last
The Bears are at 15.1 Vs 17.0 last
Support and Resistance
DJIA closed: 22,871.72
Resistance
None
Support
The 10-Day EMA: 22,740
22,420 the Sept 2017 high
The 50-Day EMA: 22,241
22,179 the August 2017 high
22,086 a Aug 2017 high
21,681 the Jul 2017 high
21,638 a Jul 2017 high
21,529 the Jun 2017 high
The 200-Day SMA: 21,170
S&P 500 close: 2553.17
Resistance
None
Support
2519 the upper channel line from the 9 March 2009 uptrend channel
The 50-Day EMA: 2498
2491 the Aug 2017 high
2480 a Aug 2017 high
2453 the Jun 2017 high
2409 the Jul 2017 low
2406 the May 2017 hih
The 200-Day SMA: 2403
NAS Comp close: 6605.80
Resistance
None
Support
6477 the Sept 2017 high
6461 the Jul 2017 high
6450 a Sept 2017 high
The 50-Day EMA: 6433
6366 The Y 2016 trendline
6342 the Jun 2017 hih
6300 a Jun 2017 high
6205 the May high
The 200-Day SMA: 6079
Have a terrific week.
Latest posts by HEFFX (see all)
- Xiaomi Follows Huawei Onto The USA Blacklist - January 15, 2021
- BlackBerry Huawei Patent Deal - January 15, 2021
- Data Protection Regulators in any European Country can Bring Privacy Complaints Against Facebook - January 15, 2021