| Weekly Pivots for week ending 03-Apr-2009 | ||||
|---|---|---|---|---|
| Classic | Woodie | Camarilla | DeMark | |
| R4 | 594.5 | 577.0 | 484.7 | |
| R3 | 543.0 | 525.5 | 470.6 | |
| R2 | 491.5 | 491.5 | 465.8 | |
| R1 | 474.0 | 474.0 | 461.1 | 482.8 |
| PP | 440.0 | 440.0 | 440.0 | 444.4 |
| S1 | 422.5 | 422.5 | 451.7 | 431.3 |
| S2 | 388.5 | 388.5 | 447.0 | |
| S3 | 337.0 | 371.0 | 442.2 | |
| S4 | 285.5 | 319.5 | 428.1 | |
This will be options expiration week and a big earning week. A lot of the DOW 30 stocks are reporting earnings. Google is reporting on Thursday (4/16). The S1 level @ 422 might be a good point to enter long.
We ended the past week very strong. The RUT ended the day up 5.9%. The primary driver of the strong movement up was due to the better than expected earnings from Wells Fargo. Everyone is expecting that earnings will be depressed, so any surprise beating estimates will add further fuel to the current rally. The major indexes have all rallied over 20% in a period of a month since the March lows.
Last Change % Chg
DJIA* 8083.38 246.27 3.14
Nasdaq 1652.54 61.88 3.89
S&P 856.56 31.40 3.81
Rut 468.20 26.08 5.90
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