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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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  • StreetOne Technical Analysis, LLC Market Summary 12/30/2011 0 comments
    Dec 30, 2011 7:58 AM
    Market Summary
    David Chojnacki S1F Market Technician


    The Market reversed direction from the prior session and recovered most of the prior day’s loss.  The indices managed to gain between 0.8% and 1.1%.  Volume was weaker than the prior down session and once again followed the script of a holiday week. Breadth was positive, 4 to 1. Near and short term technicals remain positive and RSI’s remain above the 50 level for all three major indices. Once again we near recent highs, which served as resistance levels several times in recent months. The DJIA closed back above its recent high of 12231, but just barely. It will act as near term support, along with the 12125 level.  Look for the DJIA to find resistance near 12300 and 12385.   The S&P closed right at its Fibonacci retracement level of 1263, but moved slightly
    above its 200D-SMA(1259).  Look for the 200D-SMA to provide near term support along with the 1250 area. The S&P also moved back in the black for the year, but just barely(2010 close at 1257). With the high volatility in 2011(VIX in the 40’s), it’s hard to believe that the S&P is nearly flat on the year.  Watch the 1275 and 1285 levels to provide near term resistance. The Nasdaq100 closed above its 20D-SMA(2279) in yesterday’s session, but failed to move above its 50(2298) and 200D-SMA’s(2288). Look for these levels to once again provide resistance.  The Nasdaq100 has support at 2280, 2273-75, and at 2244. The VIX closed off 3.7%, to 22.65, remaining just above chart support at 22.50.  Futures are flat to mixed this morning versus fair value.  A Happy New Year to everyone.



    Major Economic Reports Today
    Chicago PMI-9:45am        


    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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