02
Sep

Wrap – Week Ended 08/31/12 (in progress)

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3 Responses to “Wrap – Week Ended 08/31/12 (in progress)”

  1. 1
    nrgyman Says:

    Robotic technology and the future of drilling:
     
    http://www.bloomberg.com/news/2012-09-02/nasa-helps-hatch-robots-for-drilling-oil-without-humans-energy.html

  2. 2
    Zorgnak Says:

     
    Weekly  S&P 500 Futures
    Notes…  Choppy low volume balance between 1392.50-1416.25. Low volume areas above and below. Demand volume, breadth, POMO supportive.  
     Thoughts… Upside bias above long and short term volume pivot at 1409 with only minor support or resistance nearby.  Need to see which way volume pushes after Labor Day break. Expect pullbacks to get bought. Breakouts have room to move with little volume structure above 1433.
    CLVN=Low Volume Rejection Zone – CHVN= High Volume Price Acceptance and Congestion Zone
    1423-33     Minor CHVN/Congestion. 1424.75 Swing high.  Low volume zone above to 1440 and above.
    1412-1416 Minor Resistance, CLVN
    1409           Long and Short term volume pivot. CHVN
    1392.50     Minor Support, CLVN….low volume zone below to 1373.75 and below . Held on test last week
    1383           Minor Support, CLVN, Gap below
    1373.75      Minor  Support, CLVN
    1351           CHVN, Short/Intermediate term Volume Pivot. Intermediate Bullish bias above.
    1340.25     CLVN. Break lower works to 1321.
    1321          CLVN, Support
    1309          Major Long and Intermediate CHVN
    S&P Futures
    http://www.charthub.com/images/2012/09/03/ES_Composite.png

  3. 3
    nrgyman Says:

    Weak economic data from China and Europe has stoked stimulus-related commodity bets.  Precious metals, in particular, are moving sharply.  Oil is going along for the ride:
     
    http://www.bloomberg.com/news/2012-09-03/oil-declines-from-week-high-as-chinese-manufacturing-contracts.html

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