Daily Quant | 2013

Oct 31 2013

The Daily: Thursday, October 31, 2013

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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

Oct 31 2013

Between the Lines 10-31-13

Posted by Bob Kendall | Market Thunder | No Comments

Between the lines 10-31-13 with Bob Kendall (click here to Download, right click to “Save As”)

Oct 30 2013

The Daily: Wednesday, October 30, 2013

Posted by admin | The Daily | No Comments

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

Oct 29 2013

The Daily: Tuesday, October 29, 2013

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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

Oct 28 2013

Weekly Research: Monday, October 28, 2013

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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%

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%

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%

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%

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.

Oct 28 2013

The Weekly Brief: Monday, October 28, 2013

Posted by admin | The Weekly Brief | No Comments

Market Overview

YTD Performance

S&P 500 Pacing

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.

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

Performance Divergence

SP 500 for the week of 10/21/2013

S&P 500 for 10/25/2013

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

Oct 25 2013

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

Posted by admin | 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

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%

Oct 25 2013

The Daily: Friday, October 25, 2013

Posted by admin | The Daily | No Comments

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

Oct 24 2013

The Daily: Thursday, October 24, 2013

Posted by admin | The Daily | No Comments

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

Oct 24 2013

Between the Lines 10-24-13

Posted by Bob Kendall | Market Thunder | No Comments

Between the lines 10-24-13 with Bob Kendall

(click here to Download, right click to “Save As”)

Next Entries »

2013 October

The Daily: Thursday, October 31, 2013

Market reversal, but was that it?

Today’s Key Levels

Between the Lines 10-31-13

The Daily: Wednesday, October 30, 2013

Another day another new high…

Today’s Key Levels

The Daily: Tuesday, October 29, 2013

Higher and higher we go!

Today’s Key Levels

Weekly Research: Monday, October 28, 2013

Major Markets

The Globe

Commodities

Diversified Assets

The Weekly Brief: Monday, October 28, 2013

Market Overview

Market signals more upside!

By the Box

SP 500 for the week of 10/21/2013

S&P 500 for 10/25/2013

S&P 500 for 10/25/2013

This Week’s Key Levels

Today’s Key Levels

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

The Globe

The Global Markets

The Daily: Friday, October 25, 2013

Today’s Key Levels

The Daily: Thursday, October 24, 2013

Today’s Key Levels

Between the Lines 10-24-13

Market Commentary

Twitter Market Updates

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