Now that I am back from vacation, I thought we would mix it up for you all and do the Daily as a video a couple of times per week so I can explain the charts in more detail and speak directly to all of you. We will continue with the usual format the other days of the week.
I hope you enjoy this video as much as I enjoyed making it.
For today, I appear on camera with the Granddad of the Economic Modern Family and as a bonus, also with his dog.
I know we can all learn a lot from him, so make sure to stick around until the end of the video.
I will switch to the charts and go through technical analysis on both IWM and FRO (Frontline) for you. See “Key Takeaways” below.
Key Takeaways
IWM is technically perfect using price, moving averages, momentum, mean reversion, and leadership indicators.
IWM is the key indicator to watch for the strength or weakness of rallies and selloffs.
Frontline, Gramps dog, is a stock in the IWM basket, well outperforming and very interestingly set up. Please, feel free to offer any comments or feedback.
If you’re not a member and would like to learn more about our Small Cap Strategies or how to trade any false breakout for consistent profits, please let us know.
Reach out via chat, phone, email, or book a call with our Chief Strategy Consultant, Rob Quinn by clicking here.
Stock Market ETFs Trading Analysis and Summary:
S&P 500 (SPY) 415.88 now resistance with support at 410
Russell 2000 (IWM) 192.50 the resistance with support at 190 then 188
Dow Jones Industrials (DIA) 331.74 resistance and support at 335.94
Nasdaq (QQQ) 335.14 1st level of resistance and support at 329.66
KRE (Regional Banks) 66.24 resistance, support level at 64.27
SMH (Semiconductors) 229.51 resistance and support at 225.75
IYT (Transportation) 241.66 resistance and support at 238.40
IBB (Biotechnology) 125.33 resistance point and 126.40 is support.
XRT (Retail) 69.22 resistance point and with support is at 66.34
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
