Levels To Watch On S&P And Nasdaq
There were solid gains for the S&P 500 futures
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PowerRating) today but they lagged significantly behind the tech-dominated Dec. Nasdaq 100
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NDZ2 |
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PowerRating) on a percentage basis. Restraining the S&P were losses
in: Wal-Mart
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PowerRating), General Electric
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PowerRating), and General
Motors
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PowerRating). The SPZ2 has support at 870 and resistance at the 900 level.
SPZ2 closed just below the 900 level at 889 a gain of 7.50.
Gains in the tech arena were strong across most
sectors but the networking group
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PowerRating) topped the list,
up over +11.7% with semiconductors
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$SOX.X |
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PowerRating) gaining +6.5%. This
pushed the Nasdaq 100 futures to 991 up 26.50 or 2.75%. Support on NDZ2 is at
960 with resistance coming in at the 1000 level.
The Dec. 10-year note
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TYZ2 |
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PowerRating) gave back some of its gains from
yesterday’s big move. TYZ2 closed at 114 085 down .040. The Dec. 30-year bond
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USZ2 |
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PowerRating) dropped ’11 to 110 ’07, still above its 108 support line.
In the energies, Dec. crude oil
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CLZ2 |
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PowerRating) dropped below the 27.00 support level to close at $26.78 a barrel
down .08 cents.
Dec.
heating oil
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PowerRating) rose .89 of a cent to 73.40 a gallon.
Dec. unleaded gasoline
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HUZ2 |
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PowerRating) closed at 73.70 a gallon down .19 of a
cent. Unleaded gasoline dropped below the .74 support level. Dec. natural gas
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PowerRating) closed positive in today’s action. Up .12 to 4.38, a 3.03% increase.
At the Chicago Board of Trade (CBOT) grains and
beans were mixed,
with soybeans being the only winner on the day. Nov. soybeans
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SX2 |
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PowerRating)
added just .50 of a cent to close at $5.57 a bushel.
Dec wheat
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WZ2 |
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PowerRating) dropped .09 cents or 2.16% to $4.06 1/2 a bushel and Dec.
corn
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CZ2 |
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PowerRating) lost .03 cents to end at $2.46 a bushel.
In the precious metals, both
silver and gold lost today. Dec. gold
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GCZ2 |
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PowerRating) fell 1.19 to close at
$316.89. Dec. silver
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PowerRating) closed at
cents.
Dec. copper
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HGZ2 |
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PowerRating)
rose .05 to stay above the .70 cents a pound support level.
Copper closed at 70.34 a pound