Street One Fina...'s  Instablog

Street One Financial
Send Message
Street One Financial LLC (S1F or Street One) is an independent entity affiliated with GWM Group Inc., 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 managers in... More
My company:
Street One Financial
My blog:
Street One Technical Analysis
  • StreetOne Technical Analysis, LLC Market Summary-11/09/2010 0 comments
    Nov 9, 2010 9:11 AM | about stocks: IWM, IJR, VB

    by David Chojnacki

    The Market began the week continuing to digest last week’s big gains.  The indices finished mixed and little changed.  At the close, the DJIA was off 37 points, the S&P500 lost 2 points, and the Nasdaq100 gained 2 points.  Breadth was negative, 1.3 to 1, on below average volume.  Not much change technically, but all three indices held above the April highs.  For the DJIA, the near term resistance level remains 11450, with next resistance at 11500.  Support remains at 11325 and 11254.  The S&P500 held above the April closing high for the third straight session.  Resistance remains at 1225 and 1237.  Support remains at 1217 and 1200.  The Nasdaq100, the only positive performer of the three indices in the last session, though only a few points.  It remains the leader.  Near term support continues at 2180 and 2165.  Near term resistance remains at 2200 and 2213. The Russell 2000 remains a couple points below its April closing high.  Gold moved above 1400 and the GLD closed at a new high of 137.78(we reiterated a buy on 11/4 above 133 price level). The dollar(UPN) bounced up from 22 level and remains in congestion area.  The VIX managed a small gain, to close at 18.29, remaining at 6 month lows.   

     

    Trading Trend  

    Long term, the Nasdaq100 bias remains to the upside.  The DJIA and S&P500 remain in longer term technical strength and we look for final confirmation.  Short term, bias remains to the upside.  Near term, technical strength continues, as we consolidated for a second straight session.  Some key economic reports on Wednesday and Thursday of this week.  Cisco reports on Wednesday.  The European debt crisis and U.S. economic recovery confirmation are the top Market movers.

     

     

    Major Economic Reports Today:

    Wholesale Inventories-10:00am

     

     

    MAJOR INDICES Short term support and resistance level

    DJIA

    close 11406

    SP500

    close 1223

    N100

    close 2188

    11325

    11410

    1217

    1225

    2180

    2200

    11271

    11450

    1215

    1237

    2165

    2201

    11254

    11500

    1203

    1250

    2153

    2213

    11205

    11650

    1200

    1275

    2150

    2225

    11164

    11734

    1188

    1300

    2130

    2239

    11125

    11850

    1175

     

    2125

     

    11000

     

    1163

     

     

     

    10923

     

    1159

     

     

     

     

     

     

     

     

     

     

         

     

    Trade Ideas

    IWM(iShares Russell 2000)-73.71. Originally recommended 9/27 at 66.99(up 10%).  Poised to move through April closing high of 74.21.  See also IJR and VB.

    S1F in the News: http://www.streetonefinancial.com/news.html

     

    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) and Emerging Growth Equities, Ltd. (EGRO) 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 utilizing the Broker/Dealer services and licenses of Emerging Growth Equities (EGRO), a fully registered Broker Dealer and member of SIPC/FINRA. All Partners of S1F are employees of EGRO. Through EGRO, 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.                                                                      © 2010 Emerging Growth Equities, Ltd 

     



    Disclosure: No positions
    Stocks: IWM, IJR, VB
Back To Street One Financial's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.