October 19, 2016 - MDT Pro Tips A. M.

Total Premium Collected? $1.95

ASNA Long at $14.20
Total Premium Collected $.75

DUST Long $4.50
Total Premium Collected? $.70

FCX Long $12.45
Total Premium Collected? $.24

CIEN Long Oct 21-$22 Call? $1.39
Total Premiums Collected? $.74

KR Long Jan $30 Call? $1.30
KR Short Jab $33.75 Call? (.25)

DYN Long at $12.55
DYN Short Oct $12.50 Call (.48)
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The S & P 500 had a nice bounce yesterday, closing 13.10 points to the upside, at 2,139.60.? The high was 2,144.38, or about 4 points above the 2,140.62 level.

Quite frankly, I would have preferred a close above 2,140.62 as that would have set up a scenario where a close today above that level and the objective would become? 2,187.50.? We will still need two closes above 2,140.62 to move higher.

However, the 2,125 level looks like it has held as support.? Having said that, the short term intra day charts for the S & P 500 remain bearish, so I would expect some volatility until they cross into uptrends ? if they can.

As for the VIX, it ended up dropping to close at 15.28.? It was down .93 points for the day or 5.74%.? This brings the VIX back under the major 15.63 resistance level, which should continue to act as resistance.

Pre open, the S & P 500 is trading slightly to the upside.

Tonight is the last presidential debate, which could create some volatility for tomorrow and perhaps a quiet day for the markets today.

Also, today at 12:00 EST is our webinar.? I hope to see you on the webinar.

Continue to monitor the levels for entry points.

Here are the Key Levels for the Markets:

$VIX:

Major level - 18.75
Minor level - 17.96
Minor level - 16.41 *
Major level - 15.63 *
Minor level - 14.85
Minor level - 13.28
Major level - 12.50
Minor level - 11.72

With a close under 15.63, that level should now be resistance.? Two closes under 14.85 and the VIX should drop to 12.50 again.

Watch the minor 14.06 support level.? An open under 15.23 and that level could offer resistance.

$SPX:

Major level - 2,250.00
Minor level - 2,234.38
Minor level - 2,203.12
Major level - 2,187.50
Minor level - 2,171.88
Minor level - 2,140.62 *
Major level - 2,125.00 *
Minor level - 2,109.38
Minor level - 2,078.12
Major level - 2,062.50

2,132.80 should continue to offer support.? And as I mentioned yesterday, watch to see if the market can get through the 2,153 to 2,156 area.? I would expect some resistance there.

The 2,140.62 level should be the key level to watch today.

QQQ:?

Major level - 121.88
Minor level - 121.10
Minor level - 119.53
Major level - 118.75 *
Minor level - 117.97 *
Minor level - 116.41 *
Major level - 115.63 *
Minor level - 114.84
Minor level - 113.28
Major level - 112.50

The QQQ did retest 118.75, hitting a high of 118.41, or 34 cents under the level. The QQQ closed just under the minor 117.97 level.

117.58 should offer support.? If it holds that level, look for a move higher.

TLT:?

Major level - 137.50
Minor level - 136.72
Minor level - 135.16
Major level - 134.38
Minor level - 133.60
Minor level - 132.03 *
Major level - 131.25 *
Minor level ? 130.46
Minor level ? 128.91
Major level ? 128.13

The TLT did close above 132.03 yesterday.? It closed at 132.86. Objective should be back to a retest of 134.38.

135.16 could offer resistance.

GLD:

Minor level - 124.22
Minor level ? 122.66
Major level ? 121.88
Minor level ? 121.10
Minor level ? 119.53 *
Major level ? 118.75
Minor level ? 117.97

Objective should be to a retest of 121.88.? 120.21 should offer support.? And I would expect 121.88 to be resistance.

XLE:

Major level - 75.00
Minor level - 74.22
Minor level - 72.66
Major level - 71.88
Minor level - 71.10
Minor level - 69.53 *
Major level - 68.75 *
Minor level - 67.96
Minor level - 66.41
Major level - 65.63

The XLE closed just above the minor 69.53 level.? A close today above that level and the XLE should retest 71.88.

If the XLE opens higher, I would expect 69.73 to act as support.

FXY:

Major level: 96.88
Minor level: 96.49
Minor level: 95.70
Major level: 95.31
Minor level: 94.92
Minor level: 94.14
Major level: 93.75 *
Minor level: 93.36
Minor level: 92.58 *
Major level: 92.19
Minor level: 91.80
Minor level: 91.02
Major level: 90.63

The FXY should test the 93.
75 level.? And if it can get above that level, I would expect a higher push.

Support should be at 92.19.

AAPL:

Major levels for Apple are 118.75, 115.63, 112.50, 106.25, 100, 93.75, and 87.50.

115.63 should offer support for Apple.? A pullback to that level should be a great area to buy. Overbought on a daily basis, so I would not chase Apple.? Wait for a pullback.

WATCH LIST:

Bullish Stocks: NTES, ACN, AAPL, FANG, KS, ROST, MENT, DRI

Bearish Stocks:? REGN, AGN, BIDU, CLX, ANTM, CELG, DIS, VRTX, GILD, ESRX

Be sure to check earnings release dates.