The iShares Russell 1000 (IWF) snapped a 2-session losing streak with the late day peak reaching $176.06. Near-term and lower resistance at $176-$176.50 was cleared but held. A close above the latter would be a bullish signal for a retest towards $177.50-$178 and fresh record highs.

Current support is at $175-$174.50. A close below the $174 level would signal a near-term top with additional risk towards $173-$172.50.

RSI is trying to level out after holding support at 70. A close below this level would signal additional weakness towards 65-60. Resistance is at 75-80 with the latter representing overbought conditions from last week and January 2018.

The S&P 500 Volatility Index ($VIX) fell for the first time in 3 sessions despite tagging a midday high of 15.39. Upper resistance at 14.50-15 and the 200-day moving average was breached but held for the 2nd-straight session.

The fade to 13.75 afterwards and close below prior and upper support at 14-13.50 was a healthy signal volatility is easing and may have peaked. A close back below the 13 level and the 50-day moving average before week’s end would be a more bullish development and signal a possible return to all-time highs for the market.

The S&P 500 Volatility Index ($VIX) tested a low of 12.55 with last Friday and key support at 12.50 holding on the market’s opening gains. The surge to 15.27 afterwards breached lower resistance at 15-15.50 and the 200-day moving average but levels that held into the closing bell. There is upside risk towards 17-17.50 on a move above the 15.50 level.

Fresh and rising support is now at 14.50-14 and the 50-day moving average. Continued closes back below 13.50 are now needed to reestablish a possible  bullish signal again for the market.

Twitter (TWTR, $30.91, down $0.26)

TWTR January 30 calls (TWTR200117C00030000, $1.90, down $0.20)

Entry Price: $1.05 (11/15/2019)

Exit Target: $2.10

Return: 81%

Stop Target: $1.80 (Stop Limit)

Action: Upper support at $30.75-$30.50 held on Friday’s fade to $30.78. Resistance is at $31-$31.25.

The S&P 500 Volatility Index ($VIX) stayed elevated throughout Friday’s session with the high taping 12.83. Prior and lower resistance at 13-13.50 held with the close above 12.50 being a slightly bearish signal. Continued closes above this level keeps upside risk towards 14.50-50 and the 50/200-day moving averages in play.

Fresh support is at 12.50-12.

RSI is in an uptrend with resistance at 50. Continued closes above his level would signal additional strength towards 55-60 and early October highs. Support is at 45-40.

Tuesday kicks off the start of the “official” start of the 3Q earnings. Here is a peak at some of the major companies reporting numbers. Sign up today to get in on the action!

 

Before the open: Aphria (APHA), BlackRock (BLK), Charles Schwab (SCHW), Citigroup (C), Goldman Sachs (GS), Johnson & Johnson (JNJ), JPMorgan Chase (JPM), Omnicom Group (OMC), Prologis (PLD), UnitedHealth Group (UNH), Well Fargo (WFC)

After the close: Enzo Biochem (ENZ), Hancock Witney (HWC), Interactive Brokers (IBKR), JB Hunt Transportation Services (JBHT), Pinnacle Financial Partners (PNFP), Sleep Number (SNBR), United Airlines (AAL)

Get ready for 3Q earnings season! 

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