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  • 8/10/12 Market Big Picture Update  0 comments
    Aug 13, 2012 9:46 AM | about stocks: SPY, USO, GLD, SLV, UUP, UNG, TLT

    S&P 500 Index

    Current: 1,405.87
    Today's Change: +3.07
    Today's % Change: +0.22%

    The S&P 500 closed higher today at the high of 1,406 (resistance level) with 1,396 the low for the day (below yesterday's low of 1,399 and above 1,386 support level). This index remains in a uptrend (since market close of 8/3/12) and overbought for four straight trading days. Of note, though the S&P 500 is still in an uptrend the action today did reduce some of the uptrends strength based on the technical indicators I follow. The S&P 500 remains range bound for six trading sessions between the 1,386 support and 1,406 resistance levels.

    Oil Market

    Symbol: USO

    Current: $34.85
    Today's Change: -0.08
    Today's % Change: -0.23%

    The United States Oil Fund ETF (Symbol: USO) closed lower today to $34.85 trading as high as $34.87 (below yesterday's high of $35.17) and as low as $34.34 (below yesterday's low of $34.80). The action today changed the trend in USO from up to down and is in overbought territory for the last three trading sessions. The support level is the same at $34.64. However, today's action moved the resistance level down to $34.93 from $35.15.

    (click to enlarge)

    Gold Market

    Symbol: GLD

    Current: $157.18
    Today's Change: +0.19
    Today's % Change: +0.12%

    The SPDR Gold ETF (Symbol: GLD) closed higher today to $157.18 trading as high as $157.82 (above yesterday's high of $157) and as low as $156.65 (above yesterday's low of $156.28). GLD remains in a uptrend (since market close of 8/3/12) and turned overbought today. The support level increased to $155.26 (21-day moving average) from $155.05 while the resistance level remains the same at $157.46.

    (click to enlarge)

    Silver Market

    Symbol: SLV

    Current: $27.26
    Today's Change: -0.03
    Today's % Change: -0.11%

    The iShares Silver ETF (Symbol: SLV) closed lower today to $27.26 trading as high as $27.48 (above yesterday's high of $27.35) and as low as $26.90 (below yesterday's low of $27.14). SLV trend changed from up to down today and is overbought for four straight trading sessions. Support remains the same at $27.05 and resistance moved lower from $27.36 to $27.29.

    (click to enlarge)

    Dollar Market

    Symbol: UUP

    Current: $22.68
    Today's Change: -0.04
    Today's % Change: -0.18%

    The PowerShares Double US Dollar Index Bullish Fund ETF (Symbol: UUP) closed lower today to $22.68 trading as high as $22.78 (above yesterday's high of $22.76) and as low as $22.66 (below yesterday's low of $22.68). UUP is in an uptrend (since 8/9/12) and is in neutral territory from an overbought/oversold perspective. Support and resistance are lower from $22.71 to $22.60 and $22.77 to $22.71, respectively.

    (click to enlarge)

    Natural Gas Market

    Symbol: UNG
    Current: $19.01
    Today's Change: -0.88
    Today's % Change: -4.42%

    The United States Natural Gas Fund (Symbol: UNG) closed lower today to $19.01 trading as high as $19.50 (below yesterday's high of $21.35) and as low as $18.89 (below yesterday's low of $19.89). UNG is in a downtrend and oversold. Support is at $18.99 while resistance is at $19.42.

    (click to enlarge)

    Bond Market

    Symbol: TLT

    Current: $125.70
    Today's Change: +0.63
    Today's % Change: 0.50%

    The iShares Barclays 20+ Year Treasury Bond Fund (Symbol: TLT) closed higher today to $125.70 trading as high as $126.32 (above yesterday's high of $125.30) and as low as $125.60 (above yesterday's high of $125.30). TLT is in a downtrend and oversold. The support level is the same at $34.64. Support is at $125.07 with resistance at $126.31.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: SP 500, Oil, Gold, Silver, Dollar, Natural Gas, Bonds Stocks: SPY, USO, GLD, SLV, UUP, UNG, TLT
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