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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 - 12/4/2012 0 comments
    Dec 4, 2012 7:51 AM

    Market Summary

    David Chojnacki S1F Market Technician

    The day and the week began with the Market moving to the upside, unfortunately we reached the highs of the session in the first minutes. The indices degraded as the day wore on and ended near their lows. At the close, the DJIA was off 0.46%, the S&P down 0.47%, and the Nasdaq100 losing 6 points. Breadth was negative, 1.5 to 1, on average volume. RSI's retraced near 50, with the Nasdaq100 at 55. ROC(10's) remain positive, and declined in the session. ROC(150's) are negative for the DJIA and the Nasdaq100, with the S&P just slightly positive. MACD's continue above signal for all three major indices. The indices attempted to resume the 2 weeks ago rally at the open, but quickly lost steam as the DJIA dropped back below its 200D-SMA(12996). The Nasdaq100 traded between its 50 and 200D-SMA's during the session. The S&P also found resistance at its 50D-SMA in the session, but remains comfortably above its 200D-SMA(1385). The S&P did close just below its one year trend-line(1411). As we have noted in our recent discussions, we are trading on both sides of key technical levels, with some variation in each index. We are just at or below 50% retracement levels on the down leg formed from mid-September to November 15th. The Nasdaq100 closed just above its 200D-SMA(2669) and we now see that level , 2661, and 2653-50 as near term support. We find resistance at 2675 and 2694-97. The S&P closed right at the 50% retracement level and just below the one year trend-line. We look for 1409 and 1400-1396 to provide near term support. On the upside we look for 1411 and 1420-25 area to provide near term resistance. The VIX is now up for two sessions in a row, closing at 16.64. No major economic reports today, but again we focus on Washington for some type of fiscal resolution. Futures are mixed, early morning, versus fair value.

    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

    Major Economic Reports Today

    No reports scheduled

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