13
Nov

Wrap – Week Ended 11/11/11

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Comments will be in the Monday post

11 Responses to “Wrap – Week Ended 11/11/11”

  1. 1
    zman Says:

    Not surprising:

    http://news.yahoo.com/rival-libyan-militias-clash-near-military-132722966.html

  2. 2
    zman Says:

    Early trading takes a shot at triple digits:

    http://www.cx-portal.com/wti/oil_en.html

  3. 3
    zman Says:

    No eco data tomorrow, futures up in the very early running, guessing its all Europe rumor, all the time tomorrow until we dig into the US retail sales data on Tuesday.

  4. 4
    PackMan Says:

    EXXI chart fwiw http://chart.ly/bytyt68

  5. 5
    Zorgnak Says:

    S&P Futs..Within the last couple of weeks the market has built a growing acceptance area around 1237 within a range from 1216 to 1250. Movements above this acceptance area have been brief, on low volume and into increasing overhead congestion. The next likely area of resistance is at 1275. If 1275 is broken I would expect 1302 to be the target for any upside melt up over the next couple of weeks into the Holidays. 1250 is now near support. 1216 is major support to my eye.

    1302 Major Acceptance CHVN
    1294.25 Resistance CLVN
    1275 Resistance CLVN
    1270 Minor Resistance CLVN
    1261.75 Acceptance
    1250 Support, CLVN
    1241.50 Minor Support,CLVN
    1237 Range Acceptance, MCHVN
    1229.75 Support CLVN
    1216 Major Support, CLVN
    http://www.charthub.com/images/2011/11/13/ES_Composite

  6. 6
    Zorgnak Says:

    S&P Futs…I also see that the S&P 500 is getting stretched in range again to the point where any further rally on Monday would have me preparing for a short term pullback.

  7. 7
    Zorgnak Says:

    #4 hope he’s right

  8. 8
    Zorgnak Says:

    Crude closed strong on Friday
    Near support at 99.36. Resistance at 99.45…I’d be looking for a short term pullback under 100…27 days straight of closes above the 10 day moving average……Monday will be day eight in a 9 day DeMark exhaustion sell setup…but…I’m not betting on it….volume demand remains solid and ease of movement is turning positive on the weekly and monthly time frames.
    http://www.charthub.com/images/2011/11/13/Crude_2

  9. 9
    Zorgnak Says:

    Long Term Looks…I’ll try and put up something on the weekends for the longer term look in the sectors and groups we follow.
    Crude..In balance on extended rally after gross oversold
    http://www.charthub.com/images/2011/11/13/ScottSignals_3

    XLE Approaching heavy overhead
    http://www.charthub.com/images/2011/11/13/ScottSignals_4

  10. 10
    zman Says:

    Thanks Zorg

    SSN on the tape, usual stuff, plus the Spirit well looks productive uphole to the abandoned primary targets, with a bailout zone in the J sand. Deets in the morning post.

  11. 11
    crysball Says:

    Interesting IEA note on Libya:
    While daily production is 600,000+ BOPD some 140,000 BOPD is for local refineries…………..which will take time to rebuild refined stocks within Libya.

    According to IEA the Libyan production is better than expected……….but only time will tell, as the Militia infigthing will obviously take target the the most sensitive part of the the Libyan economy……………oil production/refining .

    It aint over till the Fat Lady Sings.

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