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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 - 10/10/2012 0 comments
    Oct 10, 2012 7:56 AM | about stocks: AAPL

    Market Summary

    David Chojnacki S1F Market Technician

    What started as a dull sideways Market for the first hour, quickly turned to a rapid slide of the indices. The weakness first began to manifest itself in Techs and once again AAPL. Video from riots in Greece on our TV screens, helped to contribute to the negative sentiment and a lowered Global GDP, pushed the indices to lower levels. In the final hour we witnessed an accelerated fall into the closing bell. At the close, the DJIA was off 0.8%, the S&P dropping 0.99%, and the Nasdaq100, once again the big loser, finishing down 1.6%. Breadth was decidedly negative, 3.4 to 1, with an increase in volume, but still below average. As would be expected, there was a considerable drop in RSI's, with the Nasdaq100 dropping into the high 30's. ROC(10's) fell across the board and the Nasdaq100 remained in the negative. MACD's remained below signal and the Nasdaq100 closed below its 50D-SMA(2776). The S&P and the DJIA closed at their lows of the session and the S&P moved below its 20D-SMA(1452). We have been noting that the recent weakness in the Nasdaq100 has been disconcerting and was threatening the continued move to the upside. The Nasdaq100 broke some key support in yesterday's session, and we have now developed near and short term technical weakness. There is some support at the 2725 level and at 2700, which is one year trend-line support. Upside resistance is now 2750 and 2775. The S&P also closed at its low of the session and just a point above 1440 support. Below 1440, we have support at 1425. Resistance now sets-up as 1448-50 and 1462-65. 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

    Wholesale Inv.-10:00am Treasury Budget-2:00pm Fed's Beige Book-2:00pm

    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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