November 9, 2016 - Pro Tips A.M.

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The results are in and Donald Trump has become the 45^th President of the United States. The results were not made know until about 3:00 AM last evening and unfortunately, I stayed awake to watch them.

Therefore, I am a bit behind this morning.

When it became clear that Trump would be elected, the markets were off significantly. The Dow was down about 700 points on the news.? And the S & P 500 was off about 40 points.

Markets were limit down based on the election results.

This morning the markets have recovered a bit and the S & P 500 is down about 26 points ahead of the open.

But quite frankly, the fact that the S & P 500 could not hold the 2,140.62 line was bearish.? And yesterday I mentioned that was the level to watch. To move higher, the S & P 500 will need to close above that level.

Continue to monitor the levels for entry points.

Here are the Key Levels for the Markets:

$VIX:

Major level - 25.00
Minor level ? 24.22
Minor level ? 22.66
Major level ? 21.88
Minor level ? 21.10
Minor level ? 19.53
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

The VIX closed at 18.57.? Expect the VIX to be higher this morning.?

Short term resistance should be at 23.44.

$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

2,101 should be a support level.? And watch for a possible move to 2,093.

The 2,140 level should act as 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

114.84 should offer minor support for the QQQ.?

117.97 should still offer minor resistance.

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 closed at 130.09.? I don?t expect the TLT to drop under 128.91.? Resistance should be at 131.25.

GLD:

Major level ? 125.00 *
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

The GLD did break under the 121.88 level yesterday, closing at 121.64.? Resistance should be at 125.? And a close under 121.88 today and expect a move lower.

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

68.75 should now be support.? If the XLE opens under it, expect it to act as resistance.

67.97 should be minor support. ?And 70.31 should offer resistance.

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

Look for 92.19 to offer support. On the upside, 93.75 should offer resistance.

AAPL:

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

Watch the 110.94 level.? Two closes under that level and Apple should drop to 106.25.

WATCH LIST:

Bullish Stocks: FDX, ACN, CXV, DRI, AGO, STLD, DRI, BHI ?

Bearish Stocks:? REGN, TSLA, AGN, PANW, COST, ANTM, CLX, JAZZ, ATHN

Be sure to check earnings release dates