StreetOne Technical Analysis, LLC Market Summary 5/10/2011

May 10, 2011 8:08 AM ET

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Street One Financial LLC (S1F or Street One) is an independent entity affiliated with Precision Securities, LLC., 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 constructing their portfolios and identifying which ETF products may provide the best desired exposure by specific manager objective, fees and liquidity. The ETF/ETP landscape is evolving rapidly and has diversified quickly beyond passive equity index ETFs. Now actively managed strategies, fundamental and quantitative ETFs, as well as those that offer exposure to fixed income, commodities or even volatility indexes are available to all investors. Street One believes the key to understanding this rapidly changing environment is to learn how specific products work and where they may fit within a manager's portfolio. In addition to ETFs, options, and equities, we also handle closed end funds (CEF) trade execution and access to liquidity. All Street One Financial trades are executed by Precision Securities, LLC.

StreetOne Technical Analysis, LLC

D.Chojnacki

Market Summary-05/10/2011

After a flat opening, buyers pushed up prices mid-day, but then traded in a narrow range for the rest of the session. At the close, the DJIA was up 0.3%, the S&P gaining just 6 points, and the Nasdaq100 moving up 7.7 points. Breadth was positive, 2.3 to 1, on below average volume. All three major indices had their ROC(10) declining in the last session with the DJIA the only index positive. Their MACD has fallen below signal on all three, but just barely. The 10D-EMA has reversed and is rising for all three indices again. The DJIA and S&P remain just above their bottom trend line. The DJIA has seen its RSI remain near the 60 level for the last several sessions. Near term support is now at 12654 and 125550. Near term resistance is now at 12715 and 12745. The S&P moved back above its Feb. high of 1343 and just above its 10D-EMA. Near term support is now at 1343 and 1339-35. Near term resistance is now at 1350 and 1363. The Nasdaq100 moved back above its 10D-EMA and its RSI closed at 60. It continues just below its Feb. high of 2397. Near term support is now at 2388 and 2375. Near term resistance sets up at 2397-2400 and 2412. The GLD up on the session finding support near the 145 level. GLD still technically strong long term with good support at 136.50. The VIX down 6.7% to 17.16.

Trading Trends

Long term, the bias remains to the upside for all three major indices. Short term bias to the upside continues. Near term, another upside session indicates the underlying strength in the indices. Near term technicals have strengthened somewhat in the last session and this morning’s futures pointing to a positive open. There is still some indication that the S&P wants to test the 1325-30 area. A few key economic reports today. Futures at(8:00am) are higher versus fair value. The Mid East crisis(oil) and the U.S. economic recovery confirmation are the top Market movers.

Major Economic Reports Today:

Export/Import Prices-8:30am Wholesale Inv.-10:00am

MAJOR INDICESShort term support and resistance level
DJIA close 12684		SP500 close 1346		N100 close 2390
12654	12715	1345	1350	2388	2397
12650	12745	1343	1363	2384	2400
12550	12800	1339	1372	2375	2412
12528	12833	1336	1375	2362	2425
12507	12900	1332	1388	2361	2430
12500	12936	1330	1400	2350	2445
12425		1325		2340
12391		1324		2337
12375		1321		2329

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

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