David Elliott's Morning market comment
Yesterday Wednesday 12, September 2011
The markets did their best at `backing and filling' yesterday after the 330 point up day Monday. EURO issues continued to distract the market from any sustained positive moves.
Today should see the markets shift back into the positive gear from last week and push to new Index highs for this two weeks.
The DJ-30 has upside targets now at 11,622
The Sp-500 has a 1227.30 target
QQQ has a 57.35 target.
IWM has a 70.65 target.
Today, Thursday 13th, 2011
A big upside blast to our target, stop and reversal -108 to close a positive +102 points yesterday.
WE said : "Today should see the markets shift back into the positive gear from last week and push to new Index highs for this two weeks. The DJ-30 has upside targets now at 11,622"
I am looking for a down day for the indexes today.
Today our upside DJ-30 resistance is 11,587, with support targets at 11,459, 11,401
SP-500 1213 resistance with support at 1195, 1173
Steve Bigalow's live chart and chat show with us last night on TOS is now available at www.chartsnchat.com.
WORLD CALENDAR FOR this WEEK
Thursday
| 8:30am | USD | Unemployment Claims | |
| 10:30am | USD | Natural Gas Storage | |
| 11:00am | USD | Crude Oil Inventories | |
| 2:00pm | USD | Federal Budget Balance |
Follow Link
http://www.forexfactory.com/calendar.php
GOLD
Gold Resistance $1754
Gold $1656 support and low support $1601
SILVER
Look for $33.00 high resistance Support $31.40
OIL
Oil US is in a bounce to a max of $89.50, Support target low is $81.870
U.S. DOLLAR
RESISTANCE $77.65 area and $78.29, with support at 77.01
EURO
resistance at 1.3928, Support at 1.347
the Euro has broken the Weekly 50 SMA. 1.3928.
SECTORS IN AN UP MOVE
CEMENT
MAJORAIRLINES
LONG-TERM CARE FACILITIES
SECTORS IN A DOWN MOVE
RESEARCH SERVICES
WATER UTILITIES
DATA STORAGE DEVICES
BULL KICKER STOCKS
CX
CBG
ONXX
MTL
BULL ENGULFING STOCKS
HST
PGA
EXC
BEAR ENGULFING STOCKS
ITMN
TLAB
WDC
ALXN
GREEN CANDLE LOW LONGS
50 SMA BOUNCE STOCKS AND BREAKOUTS OF 50 SMA
RED CANDLE HIGHS SHORTS
BCS
IBM
GOOG
< $2 UPSIDE MOVES
NBG
SNV
HOV
BZH
<$2 >$5 UPSIDE
PACB
AONE
CX
EXM
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