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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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Street One Technical Analysis
  • StreetOne Technical Analysis, LLC Market Summary-03/10/2011 0 comments
    Mar 10, 2011 9:07 AM
    by David Chojnacki

    The Market traded in a very narrow range for the session and very close to the flat line.  The indices were off slightly at the close.   At the close, the DJIA was off 1.29 points, the S&P down 1.8 points, and the Nasdaq100 closed down 14 points.  Breadth was negative, just 1.1 to 1, on below average volume.  Technicals remain mixed.  We did see the 20D-SMA in the DJIA and Nasdaq100 begin to decline for the first time.   The major averages remain range bound for eleven sessions.  The DJIA held above its 20D-SMA despite a small loss.  The DJIA near term support is now 12202 and 12173.  Near term resistance remains at 12250 and 12312.  The S&P500 met resistance at its 20D-SMA(1322) in the session and closed just below.  It also remained below 1325.  Near term support is now at 1319 and 1312.  Near term resistance sets up as 1322-25 and 1337.  The Nasdaq100 remains below its bottom trend line(2358) and its 20D-SMA.  It does continue to trade above its 50D-SMA(2316).  Near term resistance sets up as 2325 and 2337.  Near term support is now 2316 and 2312.  The VIX gained 2% to 20.22, moving back above its 150D-SMA.

     

     

    Trading Trends

    Long term, the bias remains to the upside for all three major indices.  Short term, bias remains slightly to the downside.  We continue range bound for eleven sessions. Near term, the indices moved very little inside the recent range.  Near term bias remains weak.  Event risk continues to hang over the Market.  Today’s Claims Report may impact the open.  European debt crisis is highlighted in the news again.  Futures at(8:15am) are lower versus fair value.  The Mid East crisis and U.S. economic recovery confirmation are the top Market movers.

     

     

    Major Economic Reports Today:

    Initial/Continuing Claims-8:30am    Trade Balance-8:30am    Treasury Budget-2:00pm   

     

      

    MAJOR INDICES Short term support and resistance level

    DJIA

    close 12213

    SP500

    close 1320

    N100

    close 2322

    12202

    12250

    1319

    1322

    2316

    2325

    12173

    12312

    1312

    1325

    2312

    2337

    12025

    12375

    1301

    1337

    2307

    2339

    12000

    12380

    1300

    1340

    2300

    2350

    11981

    12392

    1297

    1343

    2293

    2353

    11971

    12400

    1294

     1344

    2288

     2362

    11950

    12425

    1288

     1350

    2284

     2375

    11900

    12500

    1280

     1363

    2275

     2388

     

     

    1275

     1375

     

     

     

     

    Trade Ideas

    None today.

    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) 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

     

          
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