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StreetOne Technical Analysis, LLC Market Summary 4/27/2011

                                                                     StreetOne Technical Analysis, LLC
                                                                                D.Chojnacki
Market Summary-04/27/2011
The Market made a steady progression to the upside throughout the morning hours. Some selling early PM was reversed and the indices managed to close with  moderate advances. At the close, the DJIA was up 0.9%, the S&P also added 0.9%, and the Nasdaq100 moving up 0.5%. Breadth was positive, 2.6 to 1, on below average volume.   All three major indices remain with their MACD above signal and the DJIA and S&P are now at multi-year highs. The Nasdaq100 closed just one point below its Feb. high and multi-year high. The DJIA sees its RSI now at 65 as near term strength improves.   Near term support is now 12550 and 12500.  Near term resistance is now at 12600 and 12650.  The S&P moved to a new multi-year high and its RSI is now at 63. Near term support is now at 1343 and 1332.  Near term resistance is now at 1350 and 1363. The Nasdaq100 which traded above its Feb. high during the session, managed to close just one point below.  Its RSI is now at 67.  It is the only index of the big three which remains below its bottom trend line(2450).  Near term support remains at 2388 and 2375.   Near term resistance continues at 2397 and 2400.  The GLD pulled back some yesterday after setting new highs recently, meanwhile the UUP(dollar) continues to make new lows.  The VIX lost .95% to 15.62.
 
Trading Trends
Long term, the bias remains to the upside for all three major indicesShort term bias to the upside continues.   Near term technical continue to be strong as bias remains to the upside. The  Nasdaq100 is the only major index to not close above its Feb. highs, however, it is the only index above its pre-crisis level.   Earnings reports continue heavy this week.  Fed decision and Bernanke speaks today.  Futures at(8:15am) are higher versus fair value.  The Mid East crisis and the U.S. economic recovery confirmation are the top Market movers.
 
 
Major Economic Reports Today:
Durable Orders-8:30am     Crude Inventories-10:30am   FOMC Decision-12:30pm              
     
 
 
MAJOR INDICESShort term support and resistance level
DJIA
close 12595
SP500
close 1347
N100
close 2396
12556
12600
1346
1350
2388
2397
12550
12650
1343
1363
2387
2400
12507
12740
1342
1375
2375
2412
12500
12800
1332
1388
2362
2425
12425
 
1330
1400
2350
2430
12417
 
1329
 
2349
 2437
12375
 
1326
 
2337
 2450
12369
 
1325
 
2333
 
12250
 
1320
 
 
 
 
           
Trade Ideas
None today.
 
 
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