Stocks ended the day lower as the market indices couldn’t overcome a gap lower and early weakness.
Today we take a break from the usual market commentary and simply offer my analysis of the major stock market ETFs and sector ETFs that we follow.
Have a great night.
Here you go:
S&P 500 (SPY) 270 support and a move near 287-290.45 if gets there-a short (retrace to the MA breakdown)
Russell 2000 (IWM) 114.80 support 118-120 pivotal. 125.80 2018 November low resistance
Dow (DIA) 236.80 the pivotal 200-week moving average. 240 resistance. 227 support
Nasdaq (QQQ) Confirmed bullish phase with inside day. 205 support 121.47 to clear to see 220
KRE (Regional Banks) 30.95 key to hold
SMH (Semiconductors) Unconfirmed Caution phase 126.80-128.24 range to watch
IYT (Transportation) 140.27 support 145 pivotal
IBB (Biotechnology) 115 now support with 120 next resistance
XRT (Retail) 31.00 support to hold 36-38 big resistance
Volatility Index (VXX) 39.50 support and through 41.50 suggests more market weakness
Junk Bonds (JNK) 101.05 the 50-DMA. 95.80 support
LQD (iShs iBoxx High yield Bonds) 129.10-132 range to watch break. 135 resistance
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The author 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.
