December 1, 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

DYN Long at $12.55
Premium Collected $.48

FEYE Long at $13.65
Total Premium Collected $.28..
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The S & P 500 ended up closing out the month of November at 2,198.81, up 72.66 points for the month. This was a gain of 3.42%.

The DOW had an even more impressive gain of 5.41%.? The DOW closed at 19,123.58, up 981.16 points.? This was the largest one month move since October 2011.

The NASD composite was the laggard, up only 2.59% for the month.?

These moves were fueled by the election results and the pro business attitude of the president elect.? What is interesting about this is that all the pundits had it completely wrong.? This explains why it is important to be a contrarian.

Now that the euphoria of the election is starting to fade, we can now begin to think about where this market will go and when it will correct.

Not that I want to spoil the party.

But, the major concern I have is that the extreme upper band on the monthly chart for the S & P 500 is 2,263.78.? And our price objective is to 2,250.

Both levels are within 13 points of each other.

I tend to be very concerned when price begins to get to the upper band.? How the market trades around the upper band should tell us a lot as to what the market will do.

Tomorrow morning at 8:30 AM EST, is the release of the Non Farm Payroll.

Continue to monitor the levels for entry points.

Here are the Key Levels for the Markets:

$VIX:

Major level ? 14.06
Minor level ? 13.67
Minor level ? 12.89 **
Major level - 12.50
Minor level ? 12.11
Minor level ? 11.33
Major level ? 10.94

The VIX closed at 13.13 yesterday, just above the 12.89 level.? Look for a move up to 14.06.

The VIX could run up to 15.63 without impacting the downtrend.? In fact, that is about the farthest I see it going.

The minor 13.67 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

The S & P 500 ?closed back under 2,203.13, at 2,198.81.? Watch the minor 2,199.20 level because if the S&P 500 closes under that level today, it will most likely retest 2,187.50.

2,210.90 could offer minor resistance.

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 closed at 117.59.? A close today under 117.97 and the QQQ should test 115.63.

117.19 should offer support and 118.75 resistance.

TLT:?

Minor level ? 128.91
Major level ? 128.13
Major level ? 125.00
Minor level ? 124.22
Minor level ? 122.66
Major level ? 121.88 ***
Minor level ? 121.09
Minor level ? 119.53 *
Major level ? 118.75
Minor level -? 117.96

The TLT gapped down and closed at 119.45.? 120.31 should offer resistance.

Look for a move down to 118.75.

 

GLD: ?

Minor level ? 117.97
Minor level -? 116.41
Major level ? 115.63 *
Minor level ? 114.85
Minor level ? 113.28
Major level ? 112.50 *
Major level ? 109.38

Like the TLT, the GLD gapped down and closed at 111.65.? If the GLD closes today under 111.72, it should drop to 109.? 112.50 should 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 objective of 75 hit!

76.56 should offer minor resistance.? Support should be at 74.22.? The XLE is overbought short term.? Wait for pullback to get into oil stocks.

FXY:

Minor level: 89.45
Major level: 89.06
Minor level: 88.67
Minor level: 87.89
Major level: 87.50 *
Minor level: 87.11 *
Minor level: 86.33
Major level: 85.94 ***

The FXY continues its sell off, closing down 1.54, at 84.26. Objective lower still remain in place.

83.98 is a minor support level, If it breaks under that price, expect the FXY to continue down.

84.57 should be minor resistance.

AAPL:

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

Apple continues to be range bound between the 112.50 resistance level and the 110 support level.? Watch for the break out or break down and trade in that direction.

WATCH LIST:

Bullish Stocks: PCLN, HUM, GS, MLM, FDX, BA, RTN, CMI, AET, UHS, CVX, DE, CAT, PZZA, KLAC, JPM, DDS

Bearish Stocks:? AGN, BIDU, PANW, ALXN, RGR, FSLR, VRX

Be sure to check earnings release dates