Total Premium Collected - $1.95
ASNA Long at $14.20
Total Premium Collected - $.75
ETE Long $14.05
Total Premium Collected - $2.80
DUST Long $4.50
Total Premium Collected - $.70
FCX Long $12.45
Total Premium Collected - $.24
CIEN Long Oct 21-$22 Call - $1.39
Total Premiums Collected - $.83
Short Oct 21-$23.50 Call - ($.25)
KR Long Jan $30 Call - $1.30
KR Short Jab $33.75 Call ? (.25)
..........................................................................................
The markets continue in a tight range ahead of the Non Farm Payroll to be released this morning.
The range for the day ended up close to 13 points and after selling off, the S & P 500 rallied back to close to the upside about a point.
The average true range for the week is 42.59 points.? For the week, the range is 21.45 points, or about one half the average.
If the market moves to the average, that would mean the projected high could be 2,186.? Or the projected low could be as low as 2,123.
This, of course, assumes a move back to the weekly average true range.
The other scenario is the market shrugs off the Payroll Report and there is another range contraction.
Under this scenario, it would mean there would be another inside day bar for the S & P 500. After last week?s inside bar, there would be a double inside bar formation which would mean a large move should be forthcoming.
The key prices to monitor this morning are still last week?s high, which was 2,175.30 and the low, which was 2,141.55.
As I have been saying all week, we should have expected slow grinding price action until the report is released today.? And that is how the week has traded.
Continue to follow the levels.
Here are the key levels for the markets.
$VIX:
Major level - 18.75 *
Minor level - 17.96 *
Minor level - 16.41
Major level - 15.63
Minor level - 14.85
Minor level - 13.28
Major level - 12.50
Minor level - 11.72
The VIX did close under the 13.28 level yesterday.? It closed at 12.87.
The high for the day was just under the 14.06 level, which I mentioned should offer resistance.
12.50 continues to offer major support.
The next minor level under 12.50 is 11.72.? 13.28 should offer resistance.
S & P 500 Cash Index ($SPX):
Major level - 2,250.00
Minor level - 2,234.38
Minor level - 2,203.12
Major level - 2,187.50
Minor level - 2,171.88
Minor level - 2,140.62 *
Major level - 2,125.00 *
Minor level - 2,109.38
Minor level - 2,078.12
Major level - 2,062.50
Still biased to the upside with a close above 2,156 yesterday.? And the S & P 500 managed to close above the minor 2,160.20 level.
Minor resistance is at 2,168.? Minor support should be at 2,156.30.
Nasd 100 (QQQ):?
Major level - 121.88
Minor level - 121.10
Minor level - 119.53
Major level - 118.75 *
Minor level - 117.97 *
Minor level - 116.41 *
Major level - 115.63
Minor level - 114.84
Minor level - 113.28
Major level - 112.50
The QQQ closed 2 cents under the major 118.75 level.
118.36 should offer minor support.? 119.14 should offer minor resistance.
TLT:?
Major level - 140.63
Minor level - 139.85
Minor level - 138.28
Major level - 137.50 *
Minor level - 136.72 *
Minor level - 135.16
Major level - 134.38
Minor level - 133.60
Minor level - 132.03
Major level - 131.25
The TLT broke under the 134.38 level.? It closed at 133.83.
A break under the minor 132.81 level and I would expect further movement to the downside.?
The TLT could be volatile today.
GLD:
Minor level - 125.78 *
Major level - 125.00 *
Minor level - 124.22
Minor level ? 122.66
Major level ? 121.88
Minor level ? 121.10
Minor level ? 119.53
Major level ? 118.75
The GLD continues to slide and closed at 119.66. The objective should be to 118.75.
It continues to be oversold and a bounce would be expected.
121.88 should be upside resistance.
XLE:
Major level - 75.00
Minor level - 74.22
Minor level - 72.66
Major level - 71.88
Minor level - 71.10
Minor level - 69.53 *
Major level - 68.75 *
Minor level - 67.96 *
Minor level - 66.41
Major level - 65.63
The XLE continues to inch up to the 71.88 objective.? It closed just under the minor 71.10 level, at 71.02.
70.31 should be minor support.
The 60 minute chart is very close to moving into an uptrend.
FXY:
Major level: 96.88
Major level: 96.09 *
Major
level: 95.31
Major level: 94.53
Major level: 93.75
Major level: 92.97
Major level: 92.19
The FXY did break under 92.97, closing at 92.76.
A second close today under 92.97 and the FXY could drop to the 90 to 91 area.
Expect 93.75 to offer resistance.
AAPL:
Major levels for Apple are 118.75, 115.63, 112.50, 106.25, 100, 93.75, and 87.50.
Apple continues to trade in a tight range, however it is holding the 112.50 level.
A close today above 113.28 and Apple should move up to 115.63.?
Next minor pullback should be opportunity to buy Apple.
Watch list:
Bullish Stocks: PCLN, AMZN, ILMN, TAP, UNP, WDAY, CAT, EA, SWKS, QCOM, NVDA, APA, WDC, DNKN, STX, AZPN
Bearish Stocks:? AGN, GS, ALXN, ESRX, DIS, CELG, VFC, SBUX, WFC, BBBY, VRX, ACOR
Be sure to check earnings release dates.
