Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Critical Closing Levels to Watch Today


These are worth monitoring since it's the end of the week, month, and year.

Technical Relevance

Yesterday was pretty much a non-event, technically speaking -- very little movement and very light volume. Today it will be worth monitoring the closing levels since today marks the end of the week, month, and year (see important levels below). Have a happy and safe New Year's celebration tonight! Enjoy the holiday weekend.

Critical Closing Levels to Watch Today

NASDAQ: 2271.48 on the downside as monthly support. Also, the 61.8% retracement (using the daily extremes) of the October 2007 to the March 2009 range comes in just above Wednesday's close at 2292.68.

Dow Jones Industrials: Critical weekly and monthly closing support for the Dow is 10,507.

Commodity ETF (DBC): The $25 level on DBC remains critical resistance. If that level is broken today, it would be very bullish for the commodity complex.

Semiconductor Index (SOX):
Resistance for the SOX is 366.52 (Fibonacci projection); it will be interesting to see if the SOX can confirm the NASDAQ's breakout with one of its own.

Crude Oil:
Crude's hurdle to clear is the $80 level (horizontal line resistance).

The underbelly of the broken uptrend line is acting as resistance for gold -- that number is 1121 or so.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos