Stocks traded higher again on Wednesday, with the S&P 500 (SPY) and Dow Jones Industrial Average (DIA) leading the way.
Let’s review key price levels across the major stock market indices and ETFs for Thursday, September 20:
S&P 500 (SPY) 289.50 pivotal area support. 291.74 the current all-time high, which today’s high came within inches of.
Dow (DIA) New all-time highs.
Nasdaq (QQQ) 2 Inside days. Get ready folks for this to reconcile one way or another-and do so big! The 50 DMA is at 181.05.
Russell 2000 (IWM) Broke 170 on a day Dow made new highs. 168.94 the 50 DMA to hold, then 167.30. Over 170-we still want to see this clear 172.
Regional Banks (KRE) Clutch hold of61.26 the 50-week MA-but could not close over the 200 DMA
Semiconductors (SMH) 104.05 the big swing area for the end of the week with the overhead 50 DMA at 106.38 pivotal area to clear/hold. Note the slope on the 50 DMA is starting to turn down.
Transportation (IYT) 206.70-207.22 pivotal area. If fails to hold, 203 next big support. Otherwise, the ATH is at 209.43
Biotechnology (IBB) 117.83 the 50 DMA resistance to close above and 115 next support.
Retail (XRT) 51.80 a good spot for this to recapture. The 50 DMA below is at 50.80
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The authors may have a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
