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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
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  • Today's Technical Outlook -10/04/2012 0 comments
    Oct 4, 2012 8:13 AM | about stocks: AAPL

    Market Summary

    David Chojnacki S1F Market Technician

    After opening slightly to the upside, the averages quickly moved into the negative. After 10:00am the indices caught a bid and began to move into positive territory. Strength in AAPL(+1.5%), after its reversal in the prior day's session, helped to propel the Nasdaq100 to a decent gain. The other major averages followed the lead and closed positive at the final bell. At the close, the DJIA was up 12.2 points, the S&P added 5.2 points, and the Nasdaq100 gaining 0.7%. Breadth was almost dead even on the NYSE, on weak volume, for the second straight session. RSI's gained and remain in bullish territory. ROC(10's) remain negative, and were mixed in the session. The S&P and Nasdaq100 advanced, while the DJIA declined. With the S&P and Nasdaq100 closing slightly above the pivot point for near term upside bias, we saw near term technicals improve. The Nasdaq100 still remains below its 20D-SMA(2823) and MACDS for all three major indices remain below signal. This choppy action, in a narrow range, will probably continue as we go through this period of Market impacting news events. The S&P closed above the near term pivot point of 1448, but right at 1450 resistance. Near term resistance is now at 1462 and 1475. Support continues at 1440 and 1425-30. The Nasdaq100 had a fairly good day closing above 2800 and above the 2814 pivot point. It is the only index of the big three that remains below its 20D-SMA(2823). We see near term support at 2812 and 2800. Upside resistance is now at 2823-25 and 2850. The VIX closed at 15.43, down 1.7%. Futures are up 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 Factory Orders-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.

    Stocks: AAPL
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