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

Today's Technical Outlook - 4/20/2017

Major Economic Reports Today

Initial/Continuing Claims-8:30am Phila FED-8:30am Leading Indicators-10:00am NatGas Inv.-10:30am

Market Summary

David Chojnacki - Market Technician

Equities got off to a decent start Wednesday, except for the DJIA, which was hampered by IBM. IBM earnings were lower than expected and it lost 4.9% in the session. It pushed the DJIA lower and it registered a moderate loss for the session. The SPX and NDX fared better, with Techs helping the NDX finish in positive territory. After a good open, the SPX then fell through most of the session, but ended with only a small loss. It was a mixed session at best. At the close, the DJIA was down 0.58%, the SPX slipped 4 points, and the NDX added 7.9 points. Breadth was slightly negative, 1.15 to 1, on average volume. ROC(10)'s declined for the DJIA and SPX and remained unchanged for the NDX. RSI's were mixed, with the DJIA declining to 37.4, and the NDX inching up to 53.1. The SPX slipped to 43.1. All three major averages remain with their MACD below signal. The ARMS index ended the day at 1.44, a bearish reading. The major indices had a mixed session, with the DJIA the big loser and falling below a critical near term support level of 20412. It closed 8 points below at 20404. The DJIA and SPX continue below their 20 and 50 day moving averages. The DJIA also closed below its lower Bollinger Band of 20462. The SPX lower BB is at 2332, and it closed above at 2338. The DJIA and SPX did close off their lows of the session. The SPX remains above its critical near term support of 2322. The NDX closed below its 20D-SMA of 5402 by 3 points. We continue to see the weakness near term for the major indices. Volume was somewhat higher in yesterday's session, but not to a meaningful level. The IWM(iShares Russell 2000) was up 0.4% to 135.86. The VIX added 3.2% to finish at 14.89. Near term support for the NDX is at 5375 and 5361. Near term resistance is at 5402 and 5425. Near term support for the SPX is at 2332, 2325 and 2322. Near term resistance is at 2351 and 2355. Europe is mixed in early trade, and US Futures are pointing higher.

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 You should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The performance data quoted represents past performance. Past performance does not guarantee future results. The Fund's investment return and principal value will fluctuate. Upon redemption, shares may be worth more or less than their original cost. The Fund's current performance may be lower or higher than the performance data quoted. Go to toll free telephone number or Web site to obtain performance current to the most recent month-end. The average annualized total returns reflect the deduction of the Fund's maximum sales load. (When also showing non-standardized performance, if the sales load is not reflected, the disclosure must state that performance does not reflect the deduction of loads or fees and, if reflected, would have reduced performance.) You should read the prospectus carefully before investing. You should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. Additional information concerning this publication may be available on request, if available. The prospectus contains this and other information about the Fund; The prospectus and summary prospectus can be found in: SLV: prospectus-express.newriver.com/summary.... XRT: www.spdrs.com/library-content/public/SPD... EFA: prospectus-express.newriver.com/summary.... XLY: www.sectorspdr.com/shared/pdf/prospectus.pdf VCR: institutional.vanguard.com/iippdf/pdfs/F... FXD: www.ftportfolios.com/Common/ContentFileL... IYC: prospectus-express.newriver.com/summary.... 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. You should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing Transactions in securities mentioned herein may be affected 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 utilizing the Broker/Dealer services and licenses of Precision Securities,LLC, a fully registered Broker Dealer and member of SIPC/FINRA. 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. Data sources include ETF Database, ETFTrends.com, IndexUniverse.com, Google Finance, and Bloomberg data and at times other data sources are utilized. Leveraged, Inverse & Leveraged Inverse Conclusions and Risks 1) Leveraged, Inverse, and Leveraged Inverse (L&LI) ETFs generally capture a high percentage of their expected daily returns, particularly on a net asset value basis. 2) L&LI ETFs are not appropriate for all investors. However, we believe they can be appropriate tools for some investors looking to make short-term tactical trades if they perceive a high likelihood of a strong market move occurring in a relatively short time period. In strong trending markets, being on the right side of the "trade" with L or LI ETFs can lead to very strong returns. 3) Investors should not expect these ETFs to deliver total returns linked to their benchmarks over any period other than daily. The effects of compounding and the daily re-leveraging or de-leveraging that occurs with L&LI ETFs can lead to unexpected results over the long term. As a result, we believe longer-term investors should consider regularly rebalancing positions. 4) Trendless markets, particularly those with a high level of volatility, can lead to substantial relative underperformance of L&LI ETFs. 2) Leveraged and Leveraged Inverse (L&LI) ETFs typically utilize futures and equity swap agreements. The use of these derivative instruments increases risk and enhances the possibility of tracking error. Relative to traditional ETFs, leveraged, inverse and leveraged inverse ETFs typically have higher costs and lower tax efficiency. 3) The effects of compounding can lead to significant deviations from traditional benchmarks over longer time periods. For example, if $100,000 is invested in an index that increases in value by 10% on day one and then decreases in value by 10% on day two, the investment will be worth $110,000 at the end of day one and $99,000 after day two. However, the value of a security that doubles the daily performance of the index would be worth $120,000 on day one and $96,000 after day two. Thus, the index is down 1% after two days, a doubling of which would be down 2%. However, the security attempting to double the return of the index is down 4%. Investors should consider carefully the potential impact over longer periods. MLP and MLP ETF Risks Individual MLPs are publicly traded partnerships that have unique risks related to their structure. These include, but are not limited to, their reliance on the capital markets to fund growth, adverse ruling on the current tax treatment of distributions (typically mostly tax deferred), and commodity volume risk. For tax purposes, MLP ETFs are taxed as C corporations and will be obligated to pay federal and state corporate income taxes on their taxable income, unlike traditional ETFs, which are structured as registered investment companies. These ETFs are likely to exhibit tracking error relative to their index as a result of accounting for deferred tax assets or liabilities (see funds' prospectuses). The potential tax benefits from investing in MLPs depend on their being treated as partnerships for federal income tax purposes and, if the MLP is deemed to be a corporation, then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the fund which could result in a reduction of the fund's value. MLP funds accrue deferred income taxes for future tax liabilities associated with the portion of MLP distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investments; this deferred tax liability is reflected in the daily NAV; and, as a result, the MLP fund's after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked. Commodity ETF Risks Commodity ETFs may be subject to greater volatility than traditional ETFs and can be affected by increased volatility of commodities prices or indexes as well as changes in supply-and-demand relationships, interest rates, monetary and other governmental policies, or factors affecting a particular sector or commodity. Currency ETF Risks Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. ETFs mentioned at times may have material exposure to small cap and/or international securities that may have higher levels of risk and volatility than other ETFs. Registered Representative of and Securities Products offered through Precision Securities, LLC Member FINRA SIPC. Street One Financial LLC (S1F) and Precision Securities LLC are not affiliated entities.

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