The Daily, Part 1 of 3, 12-10-16

* * * *
12/10/2016 Investment House Daily
* * * *

Investment House Daily Subscribers:

MARKET ALERTS:

Targets hit: BAC; C; DIS; JNPR; MAN; PDS
Entry alerts: None issued
Trailing stops: None issued
Stop alerts: CWEI

The market alert service is a premium level service where we issue intraday
alerts relating to the general market conditions, when stocks hit action
points (buy, stop, target, etc.), and when we see other information
impacting the market or our stocks. To subscribe to the alert service you
can sign up at the following link:
http://www.investmenthouse.com/alertdaily.html

********************************************************************
The Market Video is DIVIDED into component parts: Market Overview, Economy,
Technical Summary, and the Next Session. Choose the segments you are
interested in without having to search a longer video. Click on the link to
the portion you wish to view.

TO VIEW THE MARKET OVERVIEW CLICK THE FOLLOWING LINK:
Flash: http://investmenthouse1.com/ihmedia/f/mo/mo.mp4

TO VIEW THE TECHNICAL SUMMARY VIDEO CLICK THE FOLLOWING LINK:
Flash: http://investmenthouse1.com/ihmedia/f/ts/ts.mp4

TO VIEW THE NEXT SESSION VIDEO CLICK THE FOLLOWING LINK:
Flash: http://investmenthouse1.com/ihmedia/f/nxt/nxt.mp4
********************************************************************

The REPORT SCHEDULE is as follows:

Market Summary Video, Plays and Play Videos, and Play Tables with play
annotations will issue Monday, Wednesday and the Weekend.

Tuesday and Thursday reports will contain the market summary, chart links to
view the index charts, and updated play tables.

Access to all current videos will remain assessable each day using the play
links in the reports.

If any market circumstances arise where we see additional plays we want to
prepare for the next session, we will of course issue those plays regardless
of the day of the week.

MARKET SUMMARY

- Large cap NYSE soars as smaller caps take a break from leading.
- Sentiment indicators getting to the point you start looking for technical
issues to crop up and suggest a pullback.
- New highs spike Thursday to arguably extreme levels.
- Still plenty of leadership, but lots of stocks are extended and the market
needs new leaders to continue stepping up.
- FOMC announces its yearly rate hike Wednesday.
- DJ30 20,000 likely to act like magnet. After that we see.

A familiar pattern. Stocks start flat and move higher to the close. Stocks
start lower and move higher to the close. Friday they started higher and
rallied into the close.

That low to high action, or for Friday, high to higher, is the hallmark of
this very bullish rally.

Rotation is another feature. Friday money rotated back to large cap stocks
after four big days of upside for the small and midcap indices, particularly
Thursday when those two far outpaced the other the rest of the market. So
far the rotation is the more favorable type where new money enters when the
mood strikes to migrate to another sector. That means those sectors that
take the back seat don't dive lower as the money is cashed out; they simply
rest and set up for the next move.

Volume again surged on DJ30, making back-to-back sessions of volume not seen
since 2013 and just a few times in the past decade. That is still somewhat
worrisome as money piles into a few Dow stocks. Volume fell on NYSE and
NASDAQ Friday, still above average on NASDAQ, sliding below average on NYSE.
Not the best trade but still above average on NASDAQ as it pushes higher.
All week NASDAQ showed stronger, above average volume, a sign of
accumulation.

VIX fell as the indices rose Friday, just as it should. It climbed
Wednesday and Thursday as SP500 climbed. That rise on upside sessions
suggests pullback coming in the not too distant future, but it was not that
evident, at least for DJ30 and SP500 as they closed out near the session
highs.

As for NASDAQ, SP400, SOX and RUTX, the action was more problematic. NASDAQ
gapped upside but could not move much farther. Indeed, SOX gapped higher
and then ended up lower. SP400 did likewise but just a modest loss. RUTX
needed a late push higher to close up 1.7 points. No reversals at all, just
some impressive moves higher for the entire week and a bit tired by Friday.

SP500 13.34, 0.59%
NASDAQ 27.14, 0.50%
DJ30 142.04, 0.72%
SP400 -0.19%
RUTX 0.12%
SOX -0.36%

VOLUME: NYSE -7%, NASDAQ -12%. Trade fell to below average on NYSE; not
the same accumulation seen on the big Wednesday move. Much of the volume on
the week for NYSE was somewhat anemic. NASDAQ trade faded but for the
fourth straight session logged above average volume. Plenty of accumulation
in NASDAQ stocks, not so much in NYSE tocks.

A/D: NYSE just slightly positive. NASDAQ 1.4:1. Quite anemic. The Friday
action was very focused, very narrow. Breadth never really soared on the
week, the best showing a 3:1 on NYSE Wednesday when the small and midcaps
led big.


I referenced a possible pullback in the not too distant future based on the
VIX rising as SP500 rose Wednesday and Thursday. Hey, these are big moves
and a pullback is no big deal. Indeed, new highs spiked Thursday well over
500, getting to extreme levels upside. Seasonally, this is a strong period
for the stock market, the last weeks of December.

On top of that there is Dow 20,000. With just 243 points to go, that is
acting as a flame for the moth. Okay, maybe not such a good analogy as the
moth dies when it gets to the flame. Perhaps a magnet drawing it closer?

Perhaps moth is not bad, however. This is a heck of a run and it will need
to test. The VIX action this past week historically suggests a pullback
coming, and after a run to DJ30 20,000 that is a very good setup for a test.

That leaves you looking at a big run for the week, some questionable VIX
action, but still strong leadership from many sectors. The VIX action seems
somewhat less significant looking at the move's internals, and with Dow 20K
so close, so we don't just want to shut down picking up positions. We
bought some good ones on the week, and we took some great gain all week
long, particularly Friday as per our plan. We are looking for more good
positions regardless of the move thus far as money rotating to new sectors
will find stocks that are in position to rally but have not made the moves
yet. In a continuing healthy market, when money finds them they jump, and
we want to be in on those moves regardless of what VIX says.

After all, VIX is more a sentiment indicator than a hard market indicator
such as leadership and price/volume action. You don't make your final
decision based upon its readings. You maintain a logical plan and factor it
into the equation, but it is just part of the equation. That is why we took
partial gains and didn't just close out positions based upon the Wednesday
and Thursday VIX moves.

We did take some solid gain on BAC, C, DIS, JNPR, MAN, PDS -- they are still
moving but our plan was to take some gain after a week of big upside. So,
we took some gain, left good portions of the plays to work as the market is
still moving higher. And frankly if there are more solid stocks that are in
position and make the moves, we take new positions because, though there are
some adverse indications, the best indicator is leadership in position and
making good moves.


NEWS/ECONOMY

A lot of the economic news right now is in our opinion 'old' news because it
represents the end of an 8 year turn to more regulation and taxation that
saw the first 10 year period with annual GDP below 3% since the Great
Depression. With a new administration in the wings and looking to be much
more pro-growth, the view has to be for the future, not the tail end of the
second economic 'malaise' in my lifetime.

There are indications, however, even now. Our own surveys as well as those
from many other more official survey sources show that enthusiasm and
optimism has jumped. Michigan Sentiment hit an 11 year high as reported
Friday (98.0 versus 94.3 expected versus 93.8 prior).

More than just sentiment, but as a direct corollary to it from what we hear,
businesses are pulling the trigger on equipment and other capital purchases
they have put off. Oil industry activity has jumped thanks to rising prices
and to what is perceived a more friendly administration coming in. Machine
shops, after slowing the past year and more with the oilfield bust, are
suddenly backlogged with 'rush' and 'emergency' jobs.

I said it two years back when the presidential campaigns were gearing up:
the next President could oversee a huge boom by simply rolling back taxes
and regulations that have hamstrung business and as a result pushed a lot of
money that could be invested into idle uses such as stock buybacks,
acquisitions, and dividends. Those do not produce anything new. The risk
for creating new is too high given the lowered rewards caused by extra taxes
and lower demand. So, the money is idled.

The right policies that once again make it PAY to invest in growing your
business will do just that. It is the age-old truism that I ask each person
I talk with who is seeking an elected office: if you pay someone to do
something or NOT to do something, they will do it. In terms of taxes and
regulations running higher, you are paying them NOT to do anything, exactly
what we have seen in the US the past 8 to 10 years.

If that changes and suddenly companies are paid to invest because they can
now get a great return on their investment, the money will run to
investment. You suddenly turn the tables from making it more profitable to
NOT do anything to making it cost them to just buy back stock and pay
dividends.


THE MARKET

The week saw rotation through the market with small, midcaps and chips
starting the move, large caps joining in Wednesday, small and midcaps again
taking point Thursday with some new moves in techs as well, then Friday the
NYSE large caps again while the others rested. So far the rotation is with
new money, leaving all boats rising. That is very healthy market action and
with the Dow getting support from a new high on DJ20 transports and flirting
with 20,000, there appears to be upside impetus near term, then we see what
the VIX action on Wednesday and Thursday as it rose with SP500 means to the
current market rally.

CHARTS

DJ30: After already up for two weeks after breaking higher from the
mid-November lateral consolidation, the Dow exploded higher Wednesday and
then again Friday on some massive volume. Wednesday trade was huge, the
kind seen just now and then in the past decade. It was lower Thursday and
Friday, but not by much. Huge trade going into these stocks. The Dow is
closing in on 20K, and with less than 250 points it looks as if it is going
to make a run at that level. Then we see what happens. It is now 9.1% over
its 200 day SMA. At 20,000 it is roughly 10.5%. That is where you start
looking for signs DJ30 is struggling as historically it tends to correct
after getting that far above its longer term MA.

SP500: Surged through its 2016 up trendline Wednesday and continued to
higher new highs into Friday, closing at the week at the high. Not a lot of
trade though Wednesday was above average as SP500 surged for the big move of
the week. Not impressive volume, but hard to argue with the results. SP500
is now 6.6% over its 200 day SMA, still plenty of room to run by this
measure.

RUTX: Huge Monday to Thursday, clearing to a new high. Friday RUTX gapped
to a very tight doji. Perhaps it is overdone near term, but RUTX also just
rallied off a weeklong test of the 10 day EMA the prior week so it has had a
rest. 17% above its 200 day SMA, however, and that is at the point where
RUTX, a growth index, historically would struggle. So, perhaps Friday is
just a continuation doji in a new rally off that weeklong test, but we will
have to see how it reacts.

SP400: Powerful week here similar to RUTX, coming off a week of rest and
relaxation back to the 10 day EMA. Strong, then Friday a day off with a
modest loss on lighter NYSE trade. No distribution, so perhaps just a day
off before resuming the run. Growth index same as RUTX, so they likely
trade hand in hand. 12% over its 200 day SMA, not as far along as RUTX, but
still high enough to start watching for signs of struggle. Friday was a
pause but thus far nothing major.

NASDAQ: A strong 5-session move to a new high, gapping higher Friday,
holding a gain but closing off the high. Volume faded but still above
average. Techs got a new boost on the week with WDC earnings among others,
and MSFT breaking to a higher high Friday. NASDAQ posted a breakout on
stronger, above average volume and you cannot argue with that. It is also
8% over its 200 day SMA, historically not that high for NASDAQ.

SOX: Strong run on the week, off the 50 day MA's to a new post-2000 high by
Thursday. A gap higher Friday then a reversal for a modest loss. Important
to watch SOX on its next move. New high immediately sold, important though
volatile leadership group. 21% above its 200 day SMA on the Friday high.
That's pretty darn high.


LEADERSHIP

Still plenty of leadership in the market with rotation to some new areas.

Metals: Not a lot of leadership Friday as metals, particularly steel,
struggled. AKS, STLD, X all faded, looking as if they are going to test the
10 day EMA. FCX (copper) is already in a 2+ week pennant consolidation,
attempting to set up the next rally. AA (aluminum) found a new high Friday.

Retail: Attempting to emerge as a leader. Some good moves on the week were
sold a bit Friday while others continued upside. KSS sold back some of its
good move. Others hanging in: KIRK, JWN. Others are still set to move, e.g.
TJX, ROST, DDS.

Financial: Not as strong Friday, but a strong week. BAC, C, JPM, GS all
slower on the day but a big week.

Transports: A strong week as DJ20 broke to a new all-time high. Friday
more of a pause as rails (CSX) were flat. Airlines were up but some showed
some reversing Friday, e.g. HA with a big doji along with DAL, SAVE.
Trucking lost some ground after a long run upside. JBHT surged to another
higher high then reversed to a sizeable loss. SAIA showed a doji closing
off the high.

Chips: A strong week, moving with the small and midcaps. Friday a similar
result as those, with some fades though not terrible. AMD, XLNX, MU showed
doji after good runs. AVGO announced earnings and surged. Strong overall
with a very important week coming as SOX bounced off the 50 day MA's to a
new high and is now testing that high.

Oil: Up on the week but not a huge move. APC bounced off the 10 day EMA to
match last week's higher high. Big service companies are consolidating
laterally, e.g. HAL, SLB. Smaller service companies are moving well, e.g.
ESV, PKD. Drilling is good, e.g. RIG's huge move along with DO blasting off
Friday. Still a very solid group.

Telecom: Picked up last week. CAMP broke over resistance Friday. S broke
higher on the week, tested into Friday. GLW ditto.

Internet: Some good patterns. LIVE posted a 1:6 reverse split and moved up
well before and after. LLNW looks good. AKAM had an off Friday, but its
pattern is still solid.


MARKET STATS

NASDAQ
Stats: +27.14 points (+0.5%) to close at 5444.5
Volume: 1.956B (-11.58%)

Up Volume: 1.05B (-440M)
Down Volume: 908.79M (+207.67M)

A/D and Hi/Lo: Advancers led 1.39 to 1
Previous Session: Advancers led 2.05 to 1

New Highs: 438 (-124). New highs hit 562 on Thursday. That is getting
extreme, and extremes tend to precede moves back toward the mean.
New Lows: 25 (-5)

S&P
Stats: +13.34 points (+0.59%) to close at 2259.53
NYSE Volume: 894.8M (-7.27%)

A/D and Hi/Lo: Decliners led 1.03 to 1
Previous Session: Advancers led 1.63 to 1

New Highs: 336 (-195). New highs hit 531 Thursday, also a bit extreme.
New Lows: 114 (+10)

DJ30
Stats: +142.04 points (+0.72%) to close at 19756.85


SENTIMENT INDICATORS

VIX: 11.75; -0.89. VIX moved lower as stocks rallied Friday, the typical
relation after that aberration Wednesday and Thursday when VIX rose with the
market. Overall VIX is not trending higher as the market trends higher, and
thus no indication of a major top, but possibly a near term one approaching.
Given the kind of moves the indices have shown, that is no surprise, VIX or
not, right?
VXN: 14.27; -0.55
VXO: 10.85; -2.01

Put/Call Ratio (CBOE): 0.82; +0.07

12 of 30 sessions over 1.0 on the close. Thursday showed the lowest reading
in quite some time. Downside capitulation, something to watch along with
the bulls as it shows a significant drop in put activity.


Bulls and Bears: Big jump in bulls up to near 59. Rapidly approaching 60
that starts waving the red flag for the top of market moves. Has done that
for at least the past 30 years. Bears fell hard but still have room to
give. Bulls are a more immediate concern at this point.


Bulls: 58.8 versus 56.3

Bears: 19.6 versus 22.3

Theory: When everyone is bullish and has put all their capital to work,
where does the ammunition to drive the market come from? There is always
new money to start a new year. After that is used will more money be
coming? That is the question.




Bulls: 58.8 versus 56.3
56.3 versus 55.6 versus 51.0 versus 42.9 versus 41.7 versus 47.1 versus 42.9
versus 46.1 versus 46.7 versus 45.2 versus 44.6 versus 49.0 versus 52.5
versus 55.9 versus 56.7 versus 56.2 versus 54.3 versus 52.9% versus 53.9%
versus 54.4% versus 52.5% versus 47.1% versus 41.6% versus 47.5% versus
45.9% versus 47.3% versus 45.4% versus 35.4% versus 40.2 versus 39.2

Bears: 19.6 versus 22.3
22.3 versus 21.6 versus 23.5 versus 25.7 versus 24.3 versus 23.1 versus 23.8
versus 23.1 versus 22.8 versus 23.1 versus 24.3 versus 22.6 versus 22.8
versus 20.6 Versus 20.2 versus 20.0 versus 20.9% versus 21.2% versus 21.6%
versus 23.3% versus 24.7% versus 24.5% versus 23.8% versus 23.2% versus
23.5% versus 23.8% versus 23.7% versus 24.0% versus 21.7% versus 21.6%
versus 21.7 versus 20.6% versus 21.7% versus 27.8% versus 27.8% versus 28.9%
versus 27.8% versus 30.3% versus 35.4%


OTHER MARKETS

Bonds (10 year): 2.471% versus 2.40%. Lower low on this selling for TLT as
the downtrend below the 10 day EMA remains firmly intact.

Historical: 2.40% versus 2.349% versus 2.39% versus 2.396% versus 2.394%
versus 2.454% versus 2.388% versus 2.30% versus 2.31%. versus 2.36% versus
2.355% versus 2.317% versus 2.30% versus 2.34% versus 2.297% versus 2.219%
versus 2.22% versus 2.23% versus 2.14% versus 2.077% versus 1.867% versus
1.83% versus 1.778% versus 1.81% versus 1.797% versus 1.827% versus 1.83%
versus 1.85% versus 1.84% versus 1.791% versus 1.76% versus 1.76% versus
1.73% versus 1.75% versus 1.74% versus 1.74% versus 1.766% versus 1.80%
versus 1.746% versus 1.78% versus 1.723% versus 1.72% versus 1.74% versus
1.72% versus 1.69% versus 1.622% versus 1.60% versus 1.56% versus 1.569%
versus 1.56% versus 1.584% versus 1.62%


EUR/USD: 1.05586 versus 1.06140. Dollar has rallied to end the week,
pushing right back to the November low where the euro jumped Monday.

Historical: 1.06140 versus 1.07745 versus 1.07194 versus 1.07614 versus
1.06638 versus 1.06631 versus 1.0601 versus 1.0649 versus 1.05699 versus
1.066 versus 1.05910 versus 1.05519 versus 1.0672 versus 1.06265 versus
1.0587 versus 1.0650 versus 1.07026 versus 1.0725 versus 1.07492 versus
1.0858 versus 1.08898 versus 1.09398 versus 1.10186 versus 1.10327 versus
1.11406 versus 1.11059 versus 1.11020 versus 1.10560 versus 1.09646 versus
1.09860 versus 1.08963 versus 1.0895 versus 1.08793 versus 1.08793 versus
1.08851 versus 1.0928 versus 1.0971 versus 1.0977 versus 1.10217


USD/JPY: 115.20 versus 114.23. Broke to a higher high, clearing a week+
lateral consolidation along the 10 day EMA.

Historical: 114.23 versus 113.325 versus 113.993 versus 113.601 versus
113.52 versus 113.945 versus 114.19 versus 112.685 versus 112.44 versus
111.835 versus 113.14 versus 112.445 versus 111.129 versus 110.809 versus
110.905 versus 110.240 versus 109.07 versus 108.164 versus 107.455 versus
106.621 versus 106.814 versus 105.192 versus 101.286 versus 104.386 versus
103.112 versus 102.96 versus 103.350 versus 104.042 versus 104.798 versus
104.710 versus 105.305 versus 104.412 versus 104.2110 versus 104.331 versus
103.83 versus 103.99 versus 103.99 versus 103.602 versus 103.892 versus
103.815 versus 104.201 versus 103.634 versus 103.690 versus 103.698 versus
103.95 versus 103.159 versus 103.984 versus 103.381 versus 102.807 versus
102.035 versus 101.326 versus 101.143 versus 101.322 versus 100.55


Oil: 51.50, +0.66. Monday oil tested the 52 to 52.50 level hit in October
where it immediately reversed and sold to 43. It rallied back to that level
and sold again, falling hard Wednesday to the 10 day EMA. Thursday and
Friday oil bounced back up and looks as if it will try to challenge that
level again.


Gold: 1161.90, -10.50. Sold to a lower low in this selloff with the 10 day
EMA acting as resistance. Now at last week's intraday low that corresponds
to the early February lower gap point. Nothing really suggests it tries a
bounce yet.


MONDAY

A boatload of data is due next week including the FOMC decision on Wednesday
afternoon. Surely the Fed will raise rates as it did a year ago and then
danced around for the next year as if it had to urinate but had no place to
do so. Pathetic. Again, surely it will hike. Surely. Right?

Wednesday also sees Retail sales, PPI, Industrial Production and Capacity.
CPI on Thursday, Philly Fed, Empire manufacturing.

Lots of data but does it matter right now? Improving data doesn't hurt, but
what the new administration can do with new policies is more important than
the last huffs and puffs from the economic malaise resulting from the past 8
years of policies, regulations, and taxes.

The market action is the key for us. Big moves last week rotating from
group to group, index to index. Still good technical action for the most
part with NASDAQ showing good volume on the upside, RUTX and SP400 blasting
upside as a sign of strong growth.

At the same time there are some structural and sentiment issues. RUTX,
SP400, DJ30 are at or near levels above their 200 day SMA where,
historically, they have started to struggle. Bullish sentiment is at 59,
right below levels where it has topped and the market has corrected. VIX
had those two aberrant sessions, rising along with the stock market, an
event that historically leads to some selling back off a 52 week high. New
highs are getting -- high, at least on NASDAQ.

Definitely things to watch but not the end word on the move. Still good
leadership, others trying to step up, positive rotation.

There is also DJ30 hitting the 20K level. That is a magnet to draw the Dow
and market higher. Once there, then there could very well be a pullback to
test this move. Hitting milestones such as that are funny: the indices run
to them, then once there is profit taking.

So, we are not too crazy about chasing a lot of new positions but will play
those that we can make money on during another run while Dow seeks 20,000.
We also would let our existing plays tag along for that run and look to bank
more gain as they follow DJ30 to 20K. At that point we expect a test or
some larger fade, but that is just an expectation based upon typical
patterns. Trump and his atypical approach have led to some atypical results
elsewhere so we will continue watching good stocks in good position and see
if they provide opportunity for us.

Have a great weekend!


SUPPORT AND RESISTANCE

NASDAQ: Closed at 5444.50

Resistance:

Support:
The November all-time high at 5404
5340 is the September all-time closing high.
5287.61 is the September 2016 high
The 50 day EMA at 5281
5271.36 is the August 2016 intraday prior all-time high
The 50 day SMA at 5271
5231.94 is the 2015 all-time high
5170 is the October intraday low.
5162 is the early November peak, 5176 is the December intraday peak
5100 from the April peak and early May peak
5042 is the March 2015 high
The 200 day SMA at 5042
5008.57 is the early March 2015 post-bear market high
5007 is the 12/31 upper gap point from that big gap lower
4999 is the October upper gap point
4980 is the June 2016 peak
4969 is the April 2016 recovery high
4960 is the September 2015 intraday high, an important reversal point for
NASDAQ.
4920 is the lower gap point from mid-October 2015, the January 2016 lower
gap point
4916 is the mid-November 2015 low
4899 - 4902 from the September 2015 peak, July 2015 low
4894 is the September 2015 closing high
4836 is the March 2016 peak
4815 is the December 2014 peak
4811 is the November 2014 peak (intraday)
4774 is the January 2-15 high
4751 is the January 2015 lower high
4684 is the May 2016 test low
4637 is the February intraday high
4620 is the February 1 closing high
4615 from September 2014 highs, October 2014 upper gap point, late August
2015 low.
4574 is the June 2015 low


S&P 500: Closed at 2259.53

Resistance:

Support:
The 2016 trendline at 2216
The November 2016 all-time high at 2213.25
2194 is the August 2016 all-time high
The 50 day EMA at 2177
2175 is the June 2016 high
The 50 day SMA at 2163
2135 is the May 2015 all-time high
2130 is the June 2015 peak
2126 was the April 2015 prior all-time high
2120 is the June 2016 peak
2119 is the September 2016 low; February 2015 intraday high
The 200 day SMA at 2118
2116 is the November 2015 high
2111 is the April 2016 recovery high
2104 is the December 2015 high
2094 is the December 2014 high
2079 is the intraday all-time high from November 2014
2062 is the January 2015 lower high
2046 is the July 2015 closing low
2040 is the March 2015 closing low
2026 is the May 2016 low
2023 is the November 2015 low
2020 is the September 2015 intraday high
2011 is the September prior all-time high
1995 is the September 2015 recovery peak
1991 is the July 2014 high


Dow: Closed at 19,756.85

Resistance:

Support:
The 10 day EMA at 19,361
The 50 day EMA at 18,756
18,669 is the August 2016 all-time high
18,595 is the July 2016 peak
The 50 day SMA at 18,572
18,351 is the prior all-time high from May 2015
18,288 from March 2015
18,262 is the upper gap point from the Monday gap lower.
18,247 is the August 2016 low
18,168 is the April 2016 recovery high
18,100 to 18,181: interim peaks in the December 2014 to July 2015 range
The 200 day SMA at 18,100
18,016 is the June 2016 peak
17,992 is the early September low
17,978 is the November 2015 peak
17,960 is the October intraday low
17,600 is the rough bottom of the April to June range.
17,351 is the September 2014 all-time high.
17,265 is a December 2015 closing low
17,245 is the November 2015 closing low
17,152 is the mid-July 2014 post bear market high
17,068 is the early July 2014 peak
17067 is the December 2014 low
17,063 is the June 2016 low
16,970 is the June 2014 former all-time high
16,946 is the June 2014 peak
16,933 is the September 2015 recovery intraday peak


ECONOMIC CALENDAR

December 9 - Friday
Michigan Sentiment, December (10:00): 98.0 actual versus 94.3 expected, 93.8
prior (no revisions)
Wholesale Inventories, October (10:00): -0.4% actual versus -0.4% expected,
0.1% prior (no revisions)

December 12 - Monday
Treasury Budget, November (14:00): -$135.0B expected, -$56.8B prior

December 13 - Tuesday
Export Prices ex-ag., November (8:30): 0.2% prior
Import Prices ex-oil, November (8:30): -0.1% prior

December 14 - Wednesday
MBA Mortgage Index, 12/10 (7:00): -0.7% prior
Retail Sales, November (8:30): 0.3% expected, 0.8% prior
Retail Sales ex-auto, November (8:30): 0.4% expected, 0.8% prior
PPI, November (8:30): 0.1% expected, 0.0% prior
Core PPI, November (8:30): 0.2% expected, -0.2% prior
Industrial Productio, November (9:15): -0.1% expected, 0.0% prior
Capacity Utilization, November (9:15): 75.1% expected, 75.3% prior
Business Inventories, October (10:00): -0.1% expected, 0.1% prior
Crude Inventories, 12/10 (10:30): -2.389M prior
FOMC Rate Decision, December (14:00): 0.625% expected, 0.375% prior

December 15 - Thursday
CPI, November (8:30): 0.2% expected, 0.4% prior
Core CPI, November (8:30): 0.2% expected, 0.1% prior
Initial Claims, 12/10 (8:30): 256K expected, 258K prior
Continuing Claims, 12/03 (8:30): 2005K prior
Philadelphia Fed, December (8:30): 9.0 expected, 7.6 prior
Empire Manufacturing, December (8:30): 3.0 expected, 1.5 prior
Current Account Bala, Q3 (8:30): -$111.6B expected, -$119.9B prior
NAHB Housing Market , December (10:00): 63 expected, 63 prior
Natural Gas Inventor, 12/10 (10:30): -42 bcf prior
Net Long-Term TIC Fl, October (16:00): -$26.2B prior

December 16 - Friday
Housing Starts, November (8:30): 1225K expected, 1323K prior

End part 1 of 3
_______________________________________________________
Customer Support: http://www.InvestBilling.com
1153 Bergen Pkwy - Suite I #502 - Evergreen, CO 80439