The bounce for the markets? continued yesterday with the S & P 500 closing to the upside 34.69 points.
The VIX contineud to drop, closing down 11.25%.
Today marks the end of the second quarter of 2016.
Here are the key levels for the markets.
VIX:
Major level - 25.00 *
Minor level - 24.21
Minor level - 22.66
Major level - 21.88
Minor level - 21.09 *
Minor level - 19.53
Major level - 18.75
Minor level - 17.96
Major level - 15.63
15.63 is the key level.? Watch to see if the VIX can get through 15.63.
Minor levels are 17.19 and 14.06.
S & P 500 Cash Index:?
Minor level - 2,109.38
Minor level - 2,078.12 *
Major level - 2,062.50
Minor level - 2,046.88
Minor level - 2,015.62
Major level - 2,000.00
Minor level - 1,984.38
Minor level - 1,953.12
Major level - 1,937.50
The S & P 500 rallied back to close above the 2,062.50 level, at 2,070.77.
2,078.12 is the next upside level to watch.
2,046.88 is the key support level on the downside.
Nasd 100 (QQQ):?
?
Minor level - 108.60
Minor level - 107.03
Major level - 106.25 *
Minor level - 105.46 *
Minor level - 103.91
Major level - 103.13
Minor level - 102.34
Minor level - 100.78
Major level - 100.00
The QQQ closed just above 106.25, at 106.31.
107.03 is the next minor level to the upside.
Support should be at 105.47.
TLT:?
Major level - 140.63
Minor level - 139.85
Minor level - 138.28
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
TLT should reverse off it's overbought condition.
140.63 is a key upside level that I would not expect it to get through.? Watch this level and expect? a move back down.
GLD:
Major level - 128.13
Minor level - 127.35
Minor level - 125.78 *
Major level - 125.00
Minor level - 124.22
Minor level - 122.66
Major level - 121.88
128.13 should be a difficult level to breach.
Expect a move down if it cannot get through that level.
XLE:
Minor level - 69.53
Major level - 68.75
Minor level - 67.96
Minor level - 66.41
Major level - 65.63 *
Minor level - 64.85 *
Minor level - 63.28
Major level - 62.50
Objective should be to 68.75.? Lower levels should be support.?
Minor support at 66.41 and 67.19.
Apple:
Major levels for Apple are 106.25, 100, 93.75, and 87.50.
Key level is 93.75.? If Apple breaks under 93.75, expect a move lower.
Watch list:
Bullish Stocks: MMM, CBRL, CLX, CXO, JNJ, INGR, DLR, HSY, DTE, MJN, DGX
?
Bearish Stocks:? REGN, BIIB, AMGN, GS, FLT, PANW, ALXN, EXPE, CELG, MA, PII, GRA, RCL, COF
?
Be sure to check earnings release dates.
