Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

StreetOne Technical Analysis, LLC Market Summary 7/27/2011

Market Summary
David Chojnacki S1F Market Technician

A mixed session yesterday, with the DJIA and S&P closing to the downside, while the Nasdaq100 closed up slightly. The Nasdaq100 closed right at the high it made just the other day(2429). The DJIA moved just below its 20D-SMA, but closed just above the 12500  support level. The DJIA has now had three straight down sessions, with 2 for the S&P. The indices remain above key short term technical levels, but recent sessions have put some weakness into the DJIA and S&P near term technicals. The Nasdaq100 remains the strongest near term, as selected techs continue to exhibit strength.  We expect short term bias to continue to the upside and the S&P and DJIA to eventually follow the Nasdaq100 in testing the highs. Near term, volatility is expected to continue. The VIX moved up another 4.5% in yesterday’s session to close back above 20, to 20.23. News events and earnings reports will continue to swing the Market in the near term.  Gold continues to make new highs. Futures early this morning are slightly lower versus fair value, indicating a weak open.   

Major Economic Reports Today
Durable Orders-8:30am    Crude Inv.-10:30am    Fed Beige Book-2:00pm                                                                                                                                                                        

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