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Daily Quant | 2013 | October
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2013 October

The Daily: Thursday, October 31, 2013

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2013-10-30.2

Market reversal, but was that it?

  The market was able to trade just to the target of 1776 with an intraday high of 1775.22. However, the market reversed after the Fed press release.  There was very little to determine what they are thinking other than giving the market participants what they asked for.  But as usual, the reaction is not always what you think it would be. While there was a downward reversal yesterday after making a historic high, the pattern suggests that the market will move into a trading range rather than set a major high.  A lower close today will set the tone for at least two more sessions of lower prices, trading down toward the 1751.80/1749.60 level with an extreme in this pattern of 1740.35. This pattern should not be very volatile and there is likely to be a 3 to 5 day trading range before a resumption of the upward trend. The only caution is that if there was a close below the 1740.35 level, then expect a decline toward 1731.60/1725.30.  There currently is only a 30 percent probability for that to occur. The upward objective of 1789 is still valid and likely to be reached over the next two weeks. Today is a monthly close suggesting that should the market remain above the 1731.95 level, then the rally is likely to continue for at least 2 more months moving toward the 1804 level during this period with an extreme of 1831. There are still extreme probabilities for the market to reach the 1904 level before a major top will be realized. The markets should open lower.  A lower close is expected as long as the market remains below the 1769.05 level today.

Today’s Key Levels

RX 1774.80
R3 1772.10
R2 1769.05
Resistance R1 1766.00
Prior Close   1763.31 -8.64
Support S1 1760.60
S2 1757.60
S3 1754.55
SX 1751.80
 

The Daily: Wednesday, October 30, 2013

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2013-10-29.2

Another day another new high…

Yesterday’s action continued the rally as the market moved toward the target range of the 1776/1789 levels.  As I mentioned in yesterday’s comments there was a 60 percent probability for the market to set a minor two sessions top unless it closed above the 1768.00 level.  The close at 1771.95 surpassed this level suggesting at least another 3 to 5 session of higher prices. This suggests that the market will achieve the target zone during this period. We are also just two sessions from yet another historic monthly close. In these types of patterns, there are extensions that occur and when tops should form, they don’t. They trade sidewise then continue higher or lower depending on the direction of the trend.  This market has all of the characteristics of a runaway pattern that will continue to extend.  This is what is called a bull market… the more irrational the market conditions are, the more likely they will continue higher. From a VPM viewpoint, with the database now at 74% long and the average current duration and expected returns less than half of average achieved in most cycles, it suggests that there is at least 80 to 100 more trading sessions or 4 to 5 months before the VPM database will be long in the tooth (these characteristics are normally associated with individual equity portfolios).  This will carry the market rally into Q1 of 2014. This is why during this point in the cycle that it is important to do all new trades that come in and follow the rebalancing instructions from VPM. The effect of doing this refreshes the duration and the potential for ongoing profits. When this cycle becomes more mature, the rotation out of the early trades will be carried by the new trades in the portfolio. These new trades that have come on in the past two months balance out the overall risk. This is when VPM is most diversified. Reviewing your portfolios, you will notice that most portfolios own most of the securities in your active symbol list. This final part of a trend cycle is also where a lot of money can be made. Of course, this is where “Process over Attitude and Opinion” will yield the most for your discipline. The harder it is to follow, the better the outcome! The critical level today is the 1767.95 level. A penetration will signal a minor two day correction that should not trade below the 1751.75 level, should one be signaled. Expect the 1776/1779.90 levels to be reached today if there is a penetration of the 1773.85 level. There are long term probabilities building that suggest that the S&P 500 could go as high as 1904 before topping out. The markets should open flat to lower. A higher close is expected as long as the market remains above the 1767.95 level today.

Today’s Key Levels

RX 1779.90
R3 1778.00
R2 1775.95
Resistance R1 1773.85
Prior Close   1771.95 +9.84
Support S1 1770.05
S2 1767.95
S3 1765.90
SX 1764.00

The Daily: Tuesday, October 29, 2013

Posted by | The Daily | No Comments

2013-10-28.2

Higher and higher we go!

Yesterday’s action saw another day of a contracting range as the market managed to inch higher.  This configuration suggests that there is a 60 percent probability that today will be a minor high, followed by a 2 day decline, then another 5 sessions of advancing toward the 1776/1789 target zone for this minor sequence. Today the critical level is 1758.25. Should this level be penetrated, it will signal the two day decline toward the 1750/1747 levels. A penetration of the 1747 level would signal a more defined decline but there is only a 30 percent probability for this to occur. If the market does penetrate and close above the 1768.00 level then a continuation of the trend will continue toward the 1776+ level. The markets should open flat to lower. A lower close is expected as long as the market remains below the 1768.00 level today.

Today’s Key Levels

RX 1769.80
R3 1768.00
R2 1766.00
Resistance R1 1763.95
Prior Close   1762.11 +2.11
Support S1 1760.30
S2 1758.25
S3 1756.20
SX 1754.40

Weekly Research: Monday, October 28, 2013

Posted by | Weekly Research | No Comments
 

2013-07-22 Major Markets

Major Markets

Major Markets Ticker ER Ratio Last Close Entry Date Entry Price GainsLoss
MSCI EAFE Index EFA 66.45 513.021 2012-07-02 50.13 32.56%
MSCI Emerging Markets Index EEM 42.74 195.501 2013-09-09 40.39 5.82%
S&P 500 Index SPY 175.95 148.779 2013-01-28 150.33 17.04%
S&P MidCap 400 Index MDY 235.62 219.335 2013-01-07 191.44 23.08%
S&P SmallCap 600 Index IJR 104.61 114.54 2012-12-24 77.98 34.15%
 

2013-07-22 The Globe

 

The Globe

Country Ticker Name ER Ratio Last Close Entry Date Entry Price GainsLoss
Australia EWA Australia Index MSCI Ishares 27.05 112.214 2013-09-30 25.28 7.00%
EWAS Australia Smallcap Index Fund MSCI Ishares 23.11 18.351 2013-09-16 22.12 4.48%
Austria EWO Austria Investable Mkt Idx MSCI Ishares 19.89 143.976 2013-08-12 18.27 8.87%
Belgium EWK Belgium Investable Mkt Idx MSCI Ishares 16.29 119.351 2012-07-02 11.53 41.28%
Brazil EWZ Brazil Index MSCI Ishares 50.24 248.086 2013-09-16 47.54 5.68%
EWZS Brazil Smallcap Index MSCI Ishares 22.49 43.823
Canada EWC Canada Index MSCI Ishares 29.32 105.134 2013-08-19 27.94 4.94%
EWCS Canada Smallcap Index Fund MSCI Ishares 23.32 1.575 2013-08-23 22.67 2.87%
Chile ECH Chile Investable Mkt Idx MSCI Ishares 51.63 127.659 2013-09-23 51.66 -0.06%
China ECNS China Smallcap Index MSCI Ishares 44.64 81.488 2013-09-09 42.75 4.42%
FCHI FTSE China [Hk Listed] Index Ishares 46.94 129.547 2013-08-19 45.84 2.40%
FXI FTSE China 25 Index Fund Ishares 36.43 238.845 2013-08-19 36.36 0.19%
MCHI China Index MSCI Ishares 45.88 142.23 2013-08-19 44.92 2.14%
Denmark EDEN Denmark Capped Investable Mkt Idx Fd MSCI Ishare 43.18 658.746 2013-08-19 39.33 9.79%
Finland EFNL Finland Cp Investable Mkt Indx Fund MSCI Ishares 32.75 263.916 2013-08-19 28.94 13.17%
France EWQ France Index MSCI Ishares 28.23 106.483 2013-08-05 25.8 9.42%
Germany EWG Germany Index MSCI Ishares 29.68 107.266 2013-08-05 26.63 11.45%
EWGS Germany Smallcap Index Fund MSCI Ishares 39.78 64.67 2013-08-19 35.78 11.18%
Hong Kong EWH Hong Kong Index MSCI Ishares 20.3 168.63
EWHS Hong Kong Smallcap MSCI Ishares 31.22 502.343 2013-09-03 29.43 6.08%
India INDA India Index Fund MSCI Ishares 24.3 88.216 2013-10-14 24.39 -0.37%
INDY S&P India Nifty 50 Index Ishares 23.03 47.575
Indonesia EIDO Indonesia Invstble Mkt Idx MSCI Ishares 27.37 86.825
Ireland EIRL Ireland Cppd Invstb Mkt Idx MSCI Ishares 34.56 7.716 2012-09-10 22.07 56.59%
Israel EIS Israel Cap Invest Mkt Index MSCI Ishares 47.34 204.759 2013-09-23 45.8 3.36%
Italy EWI Italy Index MSCI Ishares 15.52 131.82 2013-08-12 13.55 14.54%
Japan EWJ Japan Index MSCI Ishares 11.84 151.476 2012-12-31 9.66 22.57%
ITF S&P/Topix 150 Index Ishares 50.95 81.285
SCJ Japan Smallcap Index MSCI Ishares 55.28 60.433 2013-10-28 55.98 -1.25%
Malaysia EWM Malaysia Index MSCI Ishares 16.3 720.513 2013-09-23 15.63 4.29%
Mexico EWW Mexico Investable Mkt Idx MSCI Ishares 65.72 180.466
Netherlands EWN Netherlands Invstbl Mkt Idx MSCI Ishares 25.13 78.171 2013-07-22 22.57 11.34%
New Zealand ENZL New Zealand Invstb Mkt Idx MSCI Ishares 39.65 100 2013-09-23 38.28 3.58%
Norway ENOR Norway Capped Investable Mkt Idx Fd MSCI Ishares 31.66 217.786 2013-09-16 30.02 5.46%
Peru EPU All Peru Capped Index MSCI Ishares 35.22 195.205
Philippines EPHE Philippines Invstb Mkt Idx MSCI Ishares 35.29 165.74
Poland EPOL Poland Investable Mkt Index MSCI Ishares 31.94 208.729 2013-07-22 26.48 20.62%
Russia ERUS Russia Capped Index MSCI Ishares 22.75 74.583 2013-08-26 20.3 12.07%
Singapore EWS Singapore Index MSCI Ishares 13.86 248.593
EWSS Singapore Smallcap Fund MSCI Ishares 29.24 61.443
South Africa EZA South Africa Index MSCI Ishares 67.34 125.229 2013-08-12 61.37 9.73%
South Korea EWY South Korea Index MSCI Ishares 64.45 101.262 2013-08-26 55.99 15.11%
Spain EWP Spain Index MSCI Ishares 38.04 108.613 2013-08-05 31.64 20.23%
Sweden EWD Sweden Index MSCI Ishares 35.32 189.797 2012-12-10 28.91 22.17%
Switzerland EWL Switzerland Index MSCI Ishares 32.72 208.734 2012-09-04 23.75 37.77%
Taiwan EWT Taiwan Index MSCI Ishares 14.45 84.727 2013-09-03 13.84 4.41%
Thailand THD Thailand Invest Mkt Index MSCI Ishares 80.49 554.088
Turkey TUR Turkey Invest Mkt Index MSCI Ishares 59.86 928.249
United Kingdom EWU United Kingdom Index MSCI Ishares 20.5 178.856 2013-07-22 18.95 8.18%
EWUS United Kingdom Smallcap Index Fund MSCI Ishares 39.9 152.167 2013-07-15 34.35 16.16%
United States IVV S&P 500 Index Ishares 176.99 195.514 2013-04-08 156.01 13.45%
 

2013-07-22 Commodities Comparison

Commodities

Commodity Ticker ER Ratio Last Close Entry Date Entry Price GainsLoss
Gold GLD 130.46 200.895 2013-09-03 135.43 -3.67%
Oil OIL 23.17 260.146
Silver SLV 21.71 108.206 2013-08-19 22.42 -3.17%

2013-07-22 Diversified Assets

Diversified Assets

Mutual Fund Ticker ER Ratio Last Close Entry Date Entry Price GainsLoss
Commodities Broad Basket DXCLX 59.85 119.508 2013-09-03 52.19 14.68%
Diversified Emerging Mkts GBFAX 14.07 292.287 2013-10-28 14.12 -0.35%
Foreign Large Value FIVLX 9.02 205.029 2013-09-16 8.58 5.13%
Foreign Small/Mid Value QUSOX 11.64 495.944 2013-10-14 11.35 2.56%
Global Real Estate FIRAX 10.54 132.544 2013-10-28 10.58 -0.38%
Large Blend PIXAX 6.95 578.933 2013-07-15 6.566 5.85%
Large Growth IWIRX 28.65 105.532 2012-09-10 20.275 41.31%
VHCAX 105.76 160.95 2012-09-10 74.285 42.37%
Large Value CAMAX 14.93 198.61 2012-12-24 10.88 37.22%
SFLNX 13.65 222.912
Real Estate KSRAX 29.36 238.981
Small Blend FSCRX 30.96 171.075 2012-09-10 21.658 42.95%
2013-10-28 Sector Exposure 2013-10-28 Fund Exposure One of the new developments that we have made within the VPM Labs are the Sector and Fund Investment Exposure Charts. These charts are designed to provide a high level view of the current Long positions and any new Buys and Sells in term of percentage of that category. The Opt. Weekly Sector Investment Exposure charts shows the percentage of all stocks within each sector that are Long in addition to the percentage of new Buys and Sells this week using the current mapped Optimized Weekly Trade Systems. The Opt. Weekly Fund Investment Exposure Chart details the current Mutual Fund investment exposure by Investment Group and Category. This is a look at all Funds in our system across all shares classes to provide a comprehensive view of the current investment exposure in each of the investment categories that are represented in your Mutual Fund portfolios.

The Weekly Brief: Monday, October 28, 2013

Posted by | The Weekly Brief | No Comments

Market Overview

YTD Performance 2013-10-28 YTD S&P 500 Pacing 2013-10-28 SPPacing

Market signals more upside!

We begin this week at yet another historic level in the markets. They continue to see a massive amount of cash flow back into the markets after the debates and the extension of the debt ceiling. The Russell 2000 and the S&P 500 set a new record and the NASDAQ closed at a 13 year high. Market participants are currently looking at three things:  the government shut down and the fiscal fight which has been a headwind for the economy, the second is the Fed tapering decision which was in part due to these fiscal headwinds, and the third is the economy and how it continues to be performing below potential growth for the U.S. economy. This has most market participants counting on the continuation of the Fed stimulus. This suggests that the asset pumping will continue and therefore keep the market sentiment very bullish. When looking back at last week’s action, this sentiment was confirmed as the employment report was finally released on Tuesday showing a weaker than expected performance. This seems to confirm to most that the Taper is off and QE is on into Q1 of 2014. One of the bigger events of last week was the turnaround in the bond sector. With VPM issuing nearly 3000 new buys, many of them were in the muni, corporate and other bond funds as the interest rated have been plummeting over the past two weeks. 2013-10-28Trades by Week Throughout most of the action last week we saw a steady climb in prices as the week finished at the highs, signaling even further advances for the weeks ahead. This occurred even as the dismal job growth last month suggested that the economy may be faltering. The markets advanced based upon expectation of continued QE. There was some positive news last week as Durable orders were up 3.7% due to a massive 12.3% increase in transportation.  If you took out the Transportation numbers then orders declined by 0.1%. Excluding the airplane orders then it dropped by 1.1%. While this mixed report was viewed as positive, once again it’s about the QE program continuing. Remember, we are in the middle of the earnings season. With half of the S&P 500 already reported, growth is a moderate 2.2% if you add in the expectations for the other half that has not reported. There were plenty to celebrate as well as Microsoft, Boeing and many others gave very positive results. This just keeps those who are under invested chasing the market. This is likely to get to be even more of a driving force. We could see more of a buying panic than any selloff at this point in time, even though the S&P 500 is up 6.3% over the past two weeks. The markets are not oversold as of yet.

By the Box

YTD Performance
2013-10-28 StyleBoxes1
Performance Divergence
2013-10-28 StyleBoxes2

SP 500 for the week of 10/21/2013

2013-10-28 PriorWeek2013-10-28 PriorWeekLevels

S&P 500 for 10/25/2013

2013-10-18.2 The market opened stronger on Friday. As I mentioned in the commentary, a close above the 1754.70 level would be positive for this week and it closed at 1759.77. The configuration suggests that the market will continue higher for the next 2 to 3 sessions moving toward the 1776/1789 objectives.  There is some minor resistance at the 1769 level but this level is expected to supply only minor resistance.  The pattern also suggests that a close above the 1776 level will indicate a further expansion of the trend with the 1804/1833 levels representing the next major resistance. With the VPM database now back up to 74 percent bullish, this suggests that the longer term objectives of 1870/1905 levels will come into play.  While there are several events that have to be signaled to confirm these higher levels, the probabilities are now pointing to a larger rally after the consolidation of the past 12 weeks. The upward momentum is expanding on the intermediate charts, lending more probability for a continued rally into the first quarter of 2014 with price objectives of the 1870/1905 levels. I expect that the action over the next two weeks will confirm this analysis. It would take a close below the 1726 level to negate these projections. The downside for the next two sessions is limited and suggests there is only a 20 percent probability for a pattern failure at this time. The markets should open higher and a higher close is expected as long as the market remains above the 1755.20 level today.

This Week’s Key Levels

ER 1802.95
R3 1792.75
R2 1781.35
Resistance R1 1769.95
Prior Close   1759.77 +15.27
Support S1 1749.60
S2 1738.20
S3 1726.80
ES 1716.60

Today’s Key Levels

ER 1768.95
R3 1766.80
R2 1764.40
Resistance R1 1761.95
Prior Close   1759.77 +7.70
Support S1 1757.60
S2 1755.20
S3 1752.75
ES 1750.60

The Globe at a Glance: Friday, October 25, 2013

Posted by | Globe at a Glance | No Comments

The Globe

No countries switched from negative YTD to positive or from positive to now negative YTD. Last week, China had the largest loss with a loss of -4.73%. Poland saw the largest gain across the globe with a gain of 3.90%. The average change last week was -0.06%.

The Global Markets

GlobalMarkets_2013-10-25  
Country Ticker Name YTD Last Quarter Last Week
Australia EWA Australia Index MSCI Ishares 7.60% 11.91% 0.56%
EWAS Australia Smallcap Index Fund MSCI Ishares -5.21% 15.70% 0.48%
Austria EWO Austria Investable Mkt Idx MSCI Ishares 9.35% 18.98% 0.05%
Belgium EWK Belgium Investable Mkt Idx MSCI Ishares 17.62% 13.00% 0.93%
Brazil EWZ Brazil Index MSCI Ishares -10.19% 9.23% -0.91%
EWZS Brazil Smallcap Index MSCI Ishares -19.10% 4.38% -1.96%
Canada EWC Canada Index MSCI Ishares 3.24% 8.26% 0.48%
EWCS Canada Smallcap Index Fund MSCI Ishares -1.14% 9.61% 1.08%
Chile ECH Chile Investable Mkt Idx MSCI Ishares -18.36% -6.73% 0.21%
China ECNS China Smallcap Index MSCI Ishares 8.64% 8.30% -2.13%
FCHI FTSE China [Hk Listed] Index Ishares -5.46% 12.18% -4.73%
FXI FTSE China 25 Index Fund Ishares -9.94% 14.02% -4.51%
MCHI China Index MSCI Ishares -5.40% 12.70% -3.71%
Denmark EDEN Denmark Capped Investable Mkt Idx Fd MSCI Ishare 35.02% 17.96% 2.49%
Finland EFNL Finland Cp Investable Mkt Indx Fund MSCI Ishares 25.14% 23.89% 0.15%
France EWQ France Index MSCI Ishares 19.67% 15.32% 0.68%
Germany EWG Germany Index MSCI Ishares 20.16% 12.59% 2.45%
EWGS Germany Smallcap Index Fund MSCI Ishares 29.79% 14.88% 1.71%
Hong Kong EWH Hong Kong Index MSCI Ishares 4.53% 9.33% -2.07%
EWHS Hong Kong Smallcap MSCI Ishares 17.06% 10.47% -0.22%
India INDA India Index Fund MSCI Ishares -7.36% -5.07% -1.18%
INDY S&P India Nifty 50 Index Ishares -7.55% -5.78% -1.16%
Indonesia EIDO Indonesia Invstble Mkt Idx MSCI Ishares -9.55% -24.32% 2.01%
Ireland EIRL Ireland Cppd Invstb Mkt Idx MSCI Ishares 37.74% 15.53% -0.06%
Israel EIS Israel Cap Invest Mkt Index MSCI Ishares 12.98% 7.80% -0.46%
Italy EWI Italy Index MSCI Ishares 15.39% 19.56% -1.40%
Japan EWJ Japan Index MSCI Ishares 21.44% 6.24% -1.99%
ITF S&P/Topix 150 Index Ishares 20.02% 6.02% -2.21%
SCJ Japan Smallcap Index MSCI Ishares 24.56% 11.22% -0.74%
Malaysia EWM Malaysia Index MSCI Ishares 7.73% -3.28% 1.81%
Mexico EWW Mexico Investable Mkt Idx MSCI Ishares -6.82% -2.07% 0.20%
Netherlands EWN Netherlands Invstbl Mkt Idx MSCI Ishares 22.53% 14.42% 1.74%
New Zealand ENZL New Zealand Invstb Mkt Idx MSCI Ishares 14.66% 14.67% -0.53%
Norway ENOR Norway Capped Investable Mkt Idx Fd MSCI Ishares 8.80% 8.08% 3.30%
Peru EPU All Peru Capped Index MSCI Ishares -23.23% -4.45% 2.26%
Philippines EPHE Philippines Invstb Mkt Idx MSCI Ishares 2.17% -6.14% -1.45%
Poland EPOL Poland Investable Mkt Index MSCI Ishares 7.83% 17.76% 3.90%
Russia ERUS Russia Capped Index MSCI Ishares -3.81% 12.55% -1.26%
Singapore EWS Singapore Index MSCI Ishares 1.24% 4.38% 0.36%
EWSS Singapore Smallcap Fund MSCI Ishares -2.50% 5.56% 1.63%
South Africa EZA South Africa Index MSCI Ishares -5.92% 8.20% -0.07%
South Korea EWY South Korea Index MSCI Ishares 1.74% 15.60% -1.63%
Spain EWP Spain Index MSCI Ishares 25.71% 25.50% -1.37%
Sweden EWD Sweden Index MSCI Ishares 16.95% 14.89% 1.32%
Switzerland EWL Switzerland Index MSCI Ishares 22.09% 9.18% 2.80%
Taiwan EWT Taiwan Index MSCI Ishares 6.09% 4.66% -1.30%
Thailand THD Thailand Invest Mkt Index MSCI Ishares -2.42% -4.95% -2.23%
Turkey TUR Turkey Invest Mkt Index MSCI Ishares -10.36% -7.14% 0.47%
United Kingdom EWU United Kingdom Index MSCI Ishares 14.27% 11.10% 1.84%
EWUS United Kingdom Smallcap Index Fund MSCI Ishares 30.61% 16.39% 0.45%
United States IVV S&P 500 Index Ishares 23.66% 4.99% 0.95%
 

The Daily: Friday, October 25, 2013

Posted by | The Daily | No Comments
2013-10-24.2 The market opened stronger yesterday but lost most of the enthusiasm that was generated in the European session prior to our open. The configuration suggests that the market is still consolidating the gain made over the past two weeks. While the market was able to render another historic high this week, the momentum and volatility has declined substantially. With today being Friday, it is important that a close above the 1754.70 level is rendered today to keep a positive tone for early next week. A close below the 1743.65 level will signal a minor correction into Tuesday. The intermediate momentum remains strong and suggests that the market will continue toward the 1776/1789 objectives over the next 3 to 4 weeks. As I have mentioned before, the extreme expected from this pattern now is the 1804 level. The key level on the downside to keep the intermediate pattern in play is 1701.40.  Penetration of this level would signal an intermediate top which there is only a 30 percent probability. The markets should open lower but a higher close is expected as long as the market remains above the 1743.65 level today.

Today’s Key Levels

RX 1763.10
R3 1760.50
R2 1757.60
Resistance R1 1754.70
Prior Close   1752.07 +5.69
Support S1 1749.50
S2 1746.55
S3 1743.65
SX 1741.05

The Daily: Thursday, October 24, 2013

Posted by | The Daily | No Comments
2013-10-23.2 Yesterday’s action saw some selling for most of the session. The market penetrated yesterday’s extreme support at the 1644.80 level with a low of 1640.50.  While the market did close lower, it doesn’t appear that this was the beginning of the end of this sequence. There is a 60 percent probability for the market to rally today and penetrate the key resistance level of 1754.45.  A close above this level today will signal a move to new highs and suggest a minimum rally toward the 1764/1768 levels.  As I have mentioned several times, the upward objective for this rally is the 1776/1789 level with an extreme of 1804. The critical level for today is the 1741.10 level. A penetration will signal a decline toward the 1721/1717 levels. However, there is only a 30 percent probability for this to occur today. The markets should open higher, indicating a higher close, as long as the market remains above the 1741.10 level today.

Today’s Key Levels

RX 1756.95
R3 1754.45
R2 1751.70
Resistance R1 1748.90
Prior Close   1746.38 -8.29
Support S1 1743.90
S2 1741.10
S3 1738.30
SX 1735.80
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