November 30, 2016 - 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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As we wind down to the end of November, the S & P 500 ticked up slightly to close at 2,204.66.

That may not seem all that significant to the average investor, but we know that it was somewhat important.? Important to the extent that the S & P 500 recaptured the 2,203.12 level.

The implication yesterday was that a close under 2,203.12 would indicate that the market should drop to retest 2,187.50.

Now that it recaptured that level, it suggests that the bulls still have control of this market.

However, we are still on alert as to a pullback because the VIX closed at 12.90 yesterday.? The level to monitor was ONLY one penny above 12.89, but the VIX has now had two closes above 12.89, which means that it should try and test 14.06.

Expect the market to bounce around at these levels before it either breaks out or down.

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 12.90 yesterday, just above the 12.89 level.? Objective should be 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.

14.45 could also offer resistance. ?And 12.50 should offer support.

Watch to see if the VIX reverses to the downside, as that will be the indication that the S & P 500 should rally.

?

$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 recaptured the 2,203.12 level. at 2,201.72 yesterday.? 2,203 should now offer support.

2,214.80 should offer minor resistance.? And 2,199.20 should offer support.

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 118.94, just above the 118.75. At this point, the QQQ will need two closes above 119.53 to move up to 121.88.

118.75 should offer support.? 119.34 could offer minor 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 closed above the 121.88 major level.? The TLT will need to clear 122.66 to move higher.? And if it does, I would expect a move up to 125.

121.88 should now be support.

 

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

The GLD closed at 113.27 yesterday, just one penny under the 113.28 level. The GLD still needs two closes above 113.28 to move up to 115.63.

I do expect another downswing.

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 for the XLE should still be to 75.

Based on pre market activity, the XLE should reclaim the 71.10 level, which means that the objective of 75 should most likely be hit.

70.70 should be minor support.

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 has now had two closes under 85.94.? The implication now is that it could move down to the 81 to 83 area.? To bounce higher, the FXY needs to close above 85.94.? Sell any rallies.

If it does run to 87.50, I would expect strong resistance at that level.

AAPL:

Major levels for Apple are 118.75, 115.63, 112.50, 106.25, 100, 93
.75, and 87.50.

Watch the 112.50 level. If it is cannot get through this level, expect a pullback.? Minor support should be at 110.94.? If this level holds and Apple breaks through 112.50, look for a move higher.

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