21
Apr

Wrap – Week Ended 4/19/13

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wrap 041913

8 Responses to “Wrap – Week Ended 4/19/13”

  1. 1
    zman Says:

    Eld – did you have a link for that warmer than normal forecast you saw?

  2. 2
    Zorgnak Says:

    S&P 500 Futures Long Term Levels Of Interest 4/20/13

    Notes. Weak return to major volume pivot at 1548.75 after oversold move to the 2 month trading range lows. Major support/resistance 1526-1530/1569.50. Far CLVN and Trend line support at 1505. Treasuries at important resistance level (123.55). $USD in a trading range with support/volume pivot at 82.30/83.

    Thoughts…..Market attempting to balance at the major volume pivot at 1548.75. Bears in control below that level with major support below at 1526-30. A break of 1526-1530 brings 1505 into the picture. Renewed demand volume above 1555 has short covering potential back to 1569.50.

    S&P Futures Short Term
    http://www.charthub.com/images/2013/04/21/ES_Master_1304210444.png
    S&P Futures Long Term
    http://www.charthub.com/images/2013/04/21/ES_Master_1304210440.png
    Corresponding SPY levels
    SPY Short Term Support at 153.46, Far support at 148.52
    http://www.charthub.com/images/2013/04/21/Stock_Master390_1304210436.png

  3. 3
    Zorgnak Says:

    $USD and Treasuries have been highly correlated to the S&P lately. Both at important levels.
    http://www.charthub.com/images/2013/04/21/Stock_Master_Weekly_1304210500.png
    TLT
    http://www.charthub.com/images/2013/04/21/Stock_Master390_1304210511.png
    $USD
    http://www.charthub.com/images/2013/04/21/DXY_Master_1304210516.png

  4. 4
    Zorgnak Says:

    XLE Attempting to find balance above support at 73.42. A break of this level targets 71 with far support at 69. Defined resistance at 76.68
    http://www.charthub.com/images/2013/04/21/Stock_Master390_1304211551.png

  5. 5
    elduque Says:

    I think it came over reuters, but it was a statement by NOAA. If you go to there prediction site. It all looks warmer than normal.

    http://www.cpc.ncep.noaa.gov/

  6. 6
    elduque Says:

    Have NGL’s responded to the rise in Nat Gas? what is a good place to keep track of their price action?

  7. 7
    zman Says:

    re 6 – different end market so not much, and NGLs vary by region and by what’s in them, so hard to track as there is no standard barrel of NGLs. We take cues from propane prices but that’s only part of the frac spread.

  8. 8
    brodway Says:

    should be interesting next week. should be a bull/bear struggle and who ever wins, that will be the direction of the market for near future. S&P looks on the edge of breaking down to the 1500 level and really needs to hold here if bulls want to come out and play this spring.

    as for energy and technology, these two sectors have been decimated retreating to November levels having negated most if not all of the gains since then.

    consumer staples, health care, pharmaceuticals and biotechnology have been the leading sectors since last fall.

    yield continues to be the dominant theme among investors. 4% yield in many big cap names has become a vehicle to park cash for high wealth individuals. FCX now yielding 4.5% is mind boggling.

    just some thoughts

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