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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- 10/17/2012 0 comments
    Oct 17, 2012 7:56 AM | about stocks: AAPL

    Market Summary

    David Chojnacki S1F Market Technician

    After Monday's first positive session in six, the indices jumped out to an upside move yesterday, that continued till noon. In the PM, the averages moved mostly sideways, but held moderate gains into the closing bell, following through on the prior days gains. At the close, the DJIA was up 0.9%, the S&P gained 1%, and the Nasdaq100 a healthy 1.4%. Breadth was positive, 3 to 1, with volume just below average. RSI's moved to the upside again, with the DJIA and S&P in the upper 50's and the Nasdaq100 just under 50. ROC(10's) turned positive for the S&P and DJIA, remained negative for the Nasdaq100, but advanced for all three major indices. MACD'S remain below signal for the major averages. It was a strong session with the DJIA and S&P moving back above their 20D-SMA's and closing near their highs of the session. The Nasdaq100 also closed near its high of the day and now has had two consecutive strong sessions. It is no coincidence that AAPL has also reversed course and has had 2 strong days. The near term bias is now to the upside with short term remaining to the upside for the S&P and DJIA, with a neutral short term view for the Nasdaq100. The Nasdaq100, remains under its 50D-SMA(2785), but yesterday's action put it comfortably above some critical support levels. Support now is 2762 and 2750 near term. Upside resistance is now 2785 and 2800. The S&P finds support at 1448-50 and 1440. Resistance sets up at 1465(recent closing high) and 1475. The VIX remains tame at 15.22. Futures are slightly higher 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
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    Major Economic Reports Today

    Housing Starts/Building Permits-8:30am Crude Inventories-10:30am

    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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