Stock Trader’s Almanac informs us that on the first trading day in September, S&P 500 has been up 12 of last 17 years and on the day after Labor Day, Dow Jones Industrial Average has been up 13 of last 17 years.

Daily Pivots:

	Dow	S&P500	NASDAQ	DJTRA	R2K	FTSE	DAX
Previous	13,001	1,399	3,049	4,993	809	5,711	6,971	17.83
Open	13,003	1,400	3,070	4,994	814	5,711	6,947	17.25
High	13,152	1,413	3,079	5,036	815	5,758	7,016	18.04
Low	13,003	1,399	3,041	4,987	806	5,701	6,944	16.56
Close	13,091	1,407	3,067	5,007	812	5,758	7,015	17.47
Change %	0.7%	0.5%	0.6%	0.3%	0.4%	0.8%	0.6%	(2.0)%
Change	90.13	7.10	18.25	14.46	3.45	46.93	44.04	(0.36)
Close (vs. MidPoint)	Hi	Hi	Hi	Low	Hi	Hi	Hi	Hi
TR %	1.2%	1.0%	1.2%	1.0%	1.1%	1.0%	1.0%	8.3%
Resistance 2	13,231	1,420	3,100	5,060	820	5,797	7,064	18.84
Resistance 1	13,161	1,413	3,083	5,034	816	5,778	7,039	18.15
Pivot	13,082	1,406	3,062	5,010	811	5,739	6,992	17.36
Support 1	13,012	1,399	3,046	4,984	807	5,720	6,967	16.67
Support 2	12,862	1,385	3,008	4,934	798	5,663	6,895	15.19

Chairman Bernanke’s Jackson Hole speech was the catalyst that catapulted GLD above a descending triangle – a bullish move.

But the speech didn’t do that much for the crude oil. USO is still in a trading range indicating that global demand and by inference global economy is also stuck in neutral.

This is how major S&P sectors fared last week:

 Consumer Discretionary was the best performing sector.

 Heatlh Care was the second best.

Industrials sector was the worst performer but it is forming a symmetrical triangle. A break above the upper bound will be bullish.