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Here are some historical measures focusing on the end of the year and the beginning of a new year: S&P 500: last trading day of year: a gainer 31 out of 46 years, 67% of the time. S&P 500: first trading day of new year: a gainer only 21 out of 46 years or 46% of the time. Nasdaq: last trading day of year: a gainer 22 out of 26 years, 85% of the time. The Nasdaq saw higher closes on the last trading day of the year every year from 1978 through to and including 1999. Nasdaq: first trading day of new year: Also a gainer 22 out of 26 years or 85% of the time. Immediate intraday support for the S&P 500 is 1,209.48-1,204.92. The S&P 500 has a strong layer of support at 1,195-1,185. S&P 500 support is stacked at 1,184-1,180.40. The Nasdaq has immediate intraday support at 2,173-2,167 and 2,163-2,147.59. Supports are stacked: 2,143-2,132, then 2,130-2,122 and 2,118-2,097.86 with thick support 2,113-2,105. I would start to think I was wrong about strength into the end of the year if the Nasdaq had a day where it closed below 2,147.00. The resistance the S&P 500 is testing is old, from July, 2001. The older the resistance, the less precise you can be, but here is the read from the 60-minute charts from July and August of 2001: Immediate shelf of resistance is 1,215-1,226.27. Nasdaq resistance based on 60-minute charts from 2001 (old resistances are not as precise as recent chart action) is 2,153-2,181.05, the index spent some time above this level intraday by printing an intraday high of 2,182.37. If 2,182.37 is exceeded for more than 4 minutes I would expect to see an intraday lift in prices. The next layer of resistance for the Nasdaq is 2,202-2,264.48 and there is stacked/overlapped resistance at 2,226-2,328.05, which creates a focus of strong resistance at Nasdaq 2,226-2,264.48. |
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| aus der Diskussion: | DAX TRADING-Tagesthread 30.12.2004 bis 01.01.2004 |
| Autor (Datum des Eintrages): | THECANADIEN (31.12.04 19:50:17) |
| Beitrag: | 84 von 85 (ID:15435701) |
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