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  • Friday Was A Potential Key Reversal Day For The Russell 2000. 0 comments
    Nov 17, 2012 10:05 AM | about stocks: TLT, GLD, XLE, DIA, QQQ, SPY

    10-Year Note - (1.583) Semiannual, quarterly and annual value levels are 1.853, 2.109 and 2.502 with a weekly pivot at 1.586, and daily, monthly and semiannual risky levels at 1.546, 1.452 and 1.389.

    Comex Gold - ($1712.6) Semiannual, weekly, monthly and annual value levels are $1702.5, $1687.7, $1643.3, $1639.8 and $1575.8 with daily, quarterly risky levels at $1728.0, $1844.9 and $1881.4.

    Nymex Crude Oil - ($86.67) Weekly, daily, monthly and semiannual value levels are $83.34, $83.09, $76.96 and $76.71 with annual and quarterly risky levels at $103.58 and $107.63.

    The Euro - (1.2738) Daily and monthly value levels are 1.2657 and 1.2289 with a weekly pivot at 1.2753, and semiannual, quarterly, and annual risky levels at 1.2917, 1.3048, and 1.4239.

    The Russell 2000 set a post-QE3 low at 763.55 on Friday then closed at 776.28 above Thursday's high at 775.08, which is a "Key Reversal Day". Higher closes on Monday and Tuesday confirm the key reversal signaling a quiet Thanksgiving rally, which could be the start of a Santa Clause Rally. All major averages ended last week below their five-week modified moving averages at; 13,058 Dow Industrials, 1405.4 S&P 500, 2982 NASDAQ, 5022 Dow Transports and 809.68 Russell 2000 so the weekly charts stay negative and are not yet oversold. This week's pivots / value levels are; 12,623 Dow Industrials, 1359.6 S&P 500, 2794 NASDAQ, 5096 Dow Transports and 766.63 Russell 2000. Monthly risky levels are; 13,143 Dow Industrials, 1418.7 S&P 500, 3028 NASDAQ, 5053 Dow Transports, and 807.15 Russell 2000. Annual value levels are 12,312 Dow Industrials and 2698 NASDAQ with my annual pivot at 1363.2 S&P 500, and my annual risky level at 836.15 Russell 2000.

    Daily Dow:(12,588) Annual, daily and semiannual value levels are 12,312, 12,182 and 10,738 with weekly, monthly and annual and quarterly risky levels at 12,623, 13,143, 14,032 and 14,192.

    S&P 500 - (1359.9) Daily and semiannual value levels are 1312.7 and 1059.7 with weekly and annual pivots at 1359.6 and 1363.2, and monthly and quarterly risky levels at 1418.7 and 1513.3.

    NASDAQ - (2853) Weekly, daily, annual and semiannual value levels are 2794, 2747, 2698 and 2527 with annual and semiannual value levels are 3028, 3232 and 3295.

    Dow Transports - (4891) Daily and semiannual value levels are 4776, 4449 and 4129 with monthly, weekly, quarterly and annual risky levels at 5053, 5096, 5541 and 5861.

    Russell 2000 - (776.31) Weekly, daily and semiannual value levels are 766.63, 745.81 and 686.25 with monthly and annual risky levels at 807.70 and 836.15.

    The SOX- (356.00) Monthly, daily, weekly, and semiannual value levels are 354.06, 344.68, 342.27 and 326.30 with quarterly risky level at 439.97.

    Stocks: TLT, GLD, XLE, DIA, QQQ, SPY
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