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Street One Financial LLC (S1F or Street One) is an independent entity affiliated with Precision Securities, LLC., a full service registered broker dealer and a member of FINRA/SIPC. Street One specializes in educating, evaluating and trading ETFs, equities and options. Our firm assists portfolio... More
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  • Today's Technical Outlook 10/22/2012

    Market Summary

    David Chojnacki S1F Market Technician

    The Market opened to the downside Friday and continued that decline until the final bell. Once again Techs were weak and the Nasdaq100 lead the indices down to significant losses in the session. At the close, the DJIA was off 1.5%, the S&P lost 1.6%, and the Nasdaq100 giving up2.4%. Breadth was decidedly negative, 3.4 to 1, on a spike in volume. Part of the volume increase was due to options expiration, but the feeling was negative across the board. For the week, the DJIA and S&P fared much better as they were up 0.1% and 0.3% , respectively. The Nasdaq100 continues to be the weakest index, down 1.5% for the week. The Nasdaq100 dropped below its 1 year trend-line at 2700, fell below its 150D-SMA(2683), and closed below its .38 Fibonacci retracement point of 2709. It also moved below its 20 week SMA, is approaching its 200D-SMA(2647), and its 50% retracement level at 2662, putting its longer term upside bias in jeopardy. This weakness has been in the technicals for weeks now, yet the DJIA and S&P, while choppy, have not broken down short term. The Nasdaq100 continues to be the leader, and if that's continues we expect the other indices to follow. Beginning Wednesday we have some key economic reports for the week. This week is also heavy with Earnings reports, so a lot to digest.

    Trading Trends

    David Chojnacki S1F Market Technician

    Long term, the bias remains to the upside for the DJIA and S&P. The Nasdaq100 is within several key long term technical indicators as it tests support. Short term the Nadsdaq100 bias is to the downside. The DJIA and S&P are holding short term support, but with the choppy action could easily reverse bias. Near term, we had a mixed Market last week, with the Nasdaq100 off moderately and the DJIA and S&P flat. The Nasdaq100 may be due for a bounce at some point this week, while the S&P and DJIA should react to the news of the week. On Friday there was a big spike in the VIX, gaining 13.5% to 17.06. We will monitor it this week to see if there is any indication of the future market direction. Futures this morning are slightly higher versus fair value.

    MAJOR INDICESShort term support and resistance level
    DJIA

    close 13343

    SP500

    close 1433

    N100

    close 2678

    13279133531425143326752683
    13250134001412144026622688
    13125134761410144626502700
    13004135251400145026472709
    13000136101400146226252712
    12958136251388146526122725
    12810136611384147526002750
     137001375148825882762
      13741500 2775

    Major Economic Reports Today

    No reports scheduled

    DISCLAIMER LANGUAGE

    ALL PRICES NOTED IN THIS PUBLICATION ARE AS OF THE CLOSE ON TRADING PRIOR TO TODAY'S DATE, UNLESS OTHERWISE INDICATED

    This publication is neither an offer to sell nor a solicitation to buy any securities mentioned herein. The information contained herein is based on data obtained from recognized sources that are believed to be reliable. Street One Financial LLC (S1F) have not independently verified the facts, assumptions and estimates contained in this publication. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this publication. The information contained in this publication is not and does not purport to be a complete analysis of every material fact respecting any company, industry, ETF or other security. Additional information concerning this publication may be available on request, if available. Many of the securities mentioned in this publication involve a higher degree of risk and more volatility than the securities of more established securities. For these and other reasons, the investments discussed in this publication may be unsuitable for investors depending on their specific investment objectives and financial position. Each investor should complete his or her own additional investigation and assessment prior to making investments in any securities. Transactions in securities mentioned herein may be effected only in those states where such securities are qualified for sale. Street One Technical Analysis LLC is an independently owned Company from Street One Financial LLC (S1F). S1F is an independent Company specializing in ETF's, equities, and options. S1F specializes in agency ETF/ETP, equities, and options trade execution. On the ETF/ETP end, S1F may work with the ETF issuers to understand their products more thoroughly and how they can complement an investor's portfolio

    Oct 22 8:00 AM | Link | Comment!
  • Today's Technical Outlook - 10/19/2012

    Market Summary

    David Chojnacki S1F Market Technician

    The Market began the day moving sideways un-phased by the Initial Claims numbers, and then began to move slowly to the upside. Just after the noon hour the S&P was within a point of the recent closing high of 1465. Then the leak… GOOG's bad numbers were accidentally released early and the stock and related indices began a precipitous to fall. Techs had been weak early and this just accelerated the down swing. The Nasdaq100 closed off 1.1%, lead by GOOG down 8% and AAPL off 1.8%. At the close, the DJIA was off 8 points and the S&P down 3.5 points. Breadth was slightly negative, on volume which was above average. RSI's moved slightly lower, with the Nasdaq100 sliding a bit more, down to 43. ROC(10's) remained negative and accelerated the decline. MACD'S remain below signal for the major averages. With the DJIA and S&P pulling back from the recent high area, it looks like they could be forming a triple top. The DJIA also formed a 'Doji' in the session, indicating a possible reversal. The DJIA and S&P remain technically strong, with the Nasdaq100 continuing to show weakness. The Nasdaq100 had its 20D-SMA crossing below its 50D-SMA in yesterday's session. The Nasdaq100 now has resistance at 2750 and 2762. Support is now at 2725 and 2712. The S&P was close to testing its recent closing high of 1465, but met resistance near there and closed 8 points below. Resistance continues at 1462-65 and 1475. Near term support continues at now 1450-1447 and 1440. The VIX was down slightly for the fourth straight session. The XLF(Financials) made a new closing 52 week high. Futures are slightly lower this morning versus fair value. Street One Financial WEBINAR-Using Low-Volume ETFs For Maximum Impact and Minimum Cost
    *November 07, 2012 2:00-3:00pm EDT
    Register here: https://www2.gotomeeting.com/register/981003234>

    Major Economic Reports Today

    Existing Home Sales-10:00am

    DISCLAIMER LANGUAGE

    ALL PRICES NOTED IN THIS PUBLICATION ARE AS OF THE CLOSE ON TRADING PRIOR TO TODAY'S DATE, UNLESS OTHERWISE INDICATED

    This publication is neither an offer to sell nor a solicitation to buy any securities mentioned herein. The information contained herein is based on data obtained from recognized sources that are believed to be reliable. Street One Financial LLC (S1F) have not independently verified the facts, assumptions and estimates contained in this publication. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this publication. The information contained in this publication is not and does not purport to be a complete analysis of every material fact respecting any company, industry, ETF or other security. Additional information concerning this publication may be available on request, if available. Many of the securities mentioned in this publication involve a higher degree of risk and more volatility than the securities of more established securities. For these and other reasons, the investments discussed in this publication may be unsuitable for investors depending on their specific investment objectives and financial position. Each investor should complete his or her own additional investigation and assessment prior to making investments in any securities. Transactions in securities mentioned herein may be effected only in those states where such securities are qualified for sale. Street One Technical Analysis LLC is an independently owned Company from Street One Financial LLC (S1F). S1F is an independent Company specializing in ETF's, equities, and options. S1F specializes in agency ETF/ETP, equities, and options trade execution. On the ETF/ETP end, S1F may work with the ETF issuers to understand their products more thoroughly and how they can complement an investor's portfolio

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: AAPL, GOOG, XLF
    Oct 19 8:09 AM | Link | Comment!
  • Today's Technical Outlook - 10/18/2012

    Market Summary

    David Chojnacki S1F Market Technician

    The DJIA and S&P began their move to the upside from the opening bell. Good Housing Start numbers helped propel the indices to continue their gains into the PM hours. A brief sell-off in the early PM, was quickly met by buyers and the DJIA and S&P finished positive. The Nasdaq100 had a weak start, did get positive during the session, but after the mid-day selloff could not recover enough to finish in the black. At the close, the DJIA added just 5 points, the S&P up a measly 5.9 points, and the Nasdaq100 a bit weaker, off 2.7 points. Breadth was positive, 2.5 to 1, with volume above average. Internals were much stronger in yesterday's session then the indices would infer. RSI's were little changed in the session and remain strong. ROC(10's) returned to negative and declined in the session. MACD'S remain below signal for the major averages. The DJIA and S&P closed near their highs of the day and remain slightly stronger technically then the Nasdaq100. They are also within striking distance of their recent closing highs of 1465(S&P) and 13610(DJIA). Near and short term bias remains to the upside for the S&P and DJIA, with a neutral short term view for the Nasdaq100. The Nasdaq100 met resistance at its 50D-SMA(2785) and that along with 2795 will provide resistance. Support continues at 2762 and 2750 near term. The S&P met resistance right at the 1462 level during the session. That will continue along with 1465 and 1475. Near term support is now 1450-1447 and 1440. The VIX dropped back for the third straight session and is now at 15.07. Futures are flat this morning versus fair value. Street One Financial WEBINAR-Using Low-Volume ETFs For Maximum Impact and Minimum Cost
    *November 07, 2012 2:00-3:00pm EDT
    Register here: https://www2.gotomeeting.com/register/981003234>

    Major Economic Reports Today

    Initial/Continuing Claims-8:30am Phila FED-10:00am Leading Indicators-10:00am

    DISCLAIMER LANGUAGE

    ALL PRICES NOTED IN THIS PUBLICATION ARE AS OF THE CLOSE ON TRADING PRIOR TO TODAY'S DATE, UNLESS OTHERWISE INDICATED

    This publication is neither an offer to sell nor a solicitation to buy any securities mentioned herein. The information contained herein is based on data obtained from recognized sources that are believed to be reliable. Street One Financial LLC (S1F) have not independently verified the facts, assumptions and estimates contained in this publication. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this publication. The information contained in this publication is not and does not purport to be a complete analysis of every material fact respecting any company, industry, ETF or other security. Additional information concerning this publication may be available on request, if available. Many of the securities mentioned in this publication involve a higher degree of risk and more volatility than the securities of more established securities. For these and other reasons, the investments discussed in this publication may be unsuitable for investors depending on their specific investment objectives and financial position. Each investor should complete his or her own additional investigation and assessment prior to making investments in any securities. Transactions in securities mentioned herein may be effected only in those states where such securities are qualified for sale. Street One Technical Analysis LLC is an independently owned Company from Street One Financial LLC (S1F). S1F is an independent Company specializing in ETF's, equities, and options. S1F specializes in agency ETF/ETP, equities, and options trade execution. On the ETF/ETP end, S1F may work with the ETF issuers to understand their products more thoroughly and how they can complement an investor's portfolio

    Oct 18 8:00 AM | Link | Comment!
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