Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Intraday Market Commentary From Stifel Nicolaus – August 27

Courtesy of Tyler Durden

From Elliot Spar of Stifel Nicolas

Selling the opening rally worked again. How easy is this becoming? The bears were on their way to the bank after the Intel pre-announcement but I don’t think they stayed on the Fidelity green path. Everyone got short and then the Bernanke prepared statement said the Fed stands ready to act. When traders realized that INTC was going to reopen flattish, the buyers came back in a big way. Did anyone notice that the key 1040 level held on the S&P 500? How about that VIX? It held below Wednesday’s peak. What’s next? There are overhead down trend lines that have to be taken out in
order to change the short-term trend:

Down Trend lines:      SPX 1070
                                 Nasdaq Comp 2160
                                 RUT 605 (a bit above now)
                                 NDX 1810
Bottom-line: 1040 is your stop out point on the S&P 500 for your long market type stocks.

COMMODITY IN FOCUS
October Crude Oil
CL/V0 1 74.27 (+ .91)
Bulls have a lot of work to do here. First down trend line at 74.50 and then 76. A slippery chart.

INTEREST RATES IN THE NEWS
10 Yr. Treasury Yield Index TNX 1 26.29 (+ 1.30)
Looks like a key reversal day. A close above 25.80 would be another plus for the TNX. Next resistance up at 26.80 area.

VOLATILITY INDEXES IN FOCUS
VIX, VXN, RVX
Today’s drop has them all testing up trend line support. A clear break implies higher stock prices.

Full report (PDF)

Attachment Size
StarrAug27doc.pdf 101.89 KB

Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!