September 29, 2016 - MDT Pro Tips A.M.

Short Sept 30th-$14 Call - (.26)

Yesterday saw continued follow through to the upside, with the S & P 500 closing 11.44 points to the upside.

And the S & P 500 managed to close above the minor resistance level around 2,168, when it closed at
2,171.37.

Now that it has been cleared, I would expect lower levels to offer support.

At this point, the 2,157 area should act as support.

The clear mover yesterday was the XLE.

The XLE was up 4.32% or 2.89 based on news out of OPEC that they would cut production.

Amazing isn't it that just yesterday we were discussing that the XLE held support at 65.63 and had reversed.

The main negative for the markets at the moment is that the VIX is back under 12.50.? A bounce at some
point would be expected.

Continue to follow the levels.

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

The VIX stalled at 13.57, before dropping to close at 12.24.

At this point, 11.72 should offer support, but if the VIX does break under that level, expect it to move
lower.

12.89 and 13.28 should offer resistance.

S & P 500 Cash Index:?

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 is now within 16 points of the 2,187.50 objective.

2,164.10 and 2,167 should offer minor support.? And 2,179.70 could offer minor resistance.

Nasd 100 (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 hit a high of 118.77 yesterday, just 2 cents above the major 118.75 level.

119.14 should offer minor resistance.

118.55 is a minor support level.

At this point, the 115.63 level should offer major support on a pullback.?

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

With two closes now above 138.28, the TLT should try and test 140.63.

138.28 should be minor support.? And 139.84 could offer resistance.

GLD:

Major level - 131.25
Minor level - 130.46
Minor level - 128.91
Major level - 128.13
Minor level - 127.35 *
Minor level - 125.78 *
Major level - 125.00 *
Minor level - 124.22

The GLD should retest the 125 level.? If the GLD breaks under 126.17, that should confirm a move back to 125.

126.95 should offer 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 65.63 level certainly held as support. The XLE closed up 2.89, at 69.78.

A close today above 69.53 and expect the XLE to move up to 71.88.

68.75 should now be support.

FXY:

Major level: 96.88
Major level: 96.09 *
Major level: 95.31
Major level: 94.53
Major level: 93.75
Major level: 92.97
Major level: 92.19

As I said yesterday, 96.88 should be a tough level to get through.? The FXY dropped .28 yesterday, to close at 95.93.

95.89 should offer minor support.? And if the FXY breaks under that level, a retest of 95.31 could happen.

I would expect another drive to the upside.

Apple:

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

Apple continues to hold the 112.50 level.? It has flatlined and has been like that for five days now.

The question is when will it start to move again? We should know by the end of today.

Watch list:

Bullish Stocks: AMZN, NTES, BIDU, DPZ, FLT, EW, BABA, ADBE, MA, WDAY, V, NVDA, SRPT, DLB, PTC

Bearish Stocks:? VRTX, TGT, LEN, HRI, CBI, HFC, TILE, SHLD, SRCL
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Be sure to check earnings release dates.