Wednesday, May 8, 2013

Market LookBeck

Dow Jones Industrial Average 15056.20 87.31 0.58%
S&P 500 Index 1625.96 8.46 0.52%
Nasdaq Composite 3396.62 3.65 0.11%
Nasdaq 100 2952.88 -2.48 -0.08%
Russell 2000 967.81 8.01 0.84%
Spot Gold 1449.77 -19.38 -1.32%
Crude Oil 95.42 -0.31 -0.32%
NYSE Overall Volume 3,277,792K n/a 7.52%
Nasdaq Overall Volume 1,693,141K n/a -18.44%
NYSE Breadth 2.68 : 1 positive
Nasdaq Breadth 1.03 : 1 positive
NYSE Breadth Ratio 72.79
Nasdaq Breadth Ratio 50.76
NYSE Advancers/Decliners 1552
Nasdaq Advancers/Decliners 611
NYSE Trin 1.16
Nasdaq Trin 1.64
$VIX 12.83 0.17


MONTHLY - Bullish - Fifth consecutive bullish monthly bar close with higher high.

WEEKLY - Bullish - Large gap and hold on Friday causes weekly bar to have a large range expansion to upside. Continued new higher all time highs on this timeframe.

DAILY - Bullish - However becoming far overextended from the 20 period simple moving average on the daily. S&P cash is now over 40 points over the this key moving average. Channel resistance looms overhead at 1638. We believe risk reward would heavily favor the downside at that level.


                                       ES

                            NQ
Value Area High 1621.25 2952.00
Point of Control 1621.00 2947.50
Value Area Low 1616.50 2944.25
R3 1634.25 2975.92
R2 1628.00 2966.33
R1 1624.25 2956.42
Pivot 1618.00 2946.83
S1 1614.25 2936.92
S2 1608.00 2927.33
S3 1604.25 2917.42