Michael Yorba of CEO Money has honored me with a weekly invite to appear on his show.
During the latest interview (we have done four weekly interviews thus far), we mainly cover the macro viewpoint with both fundamental and technical analysis on the stock market indices and key sectors.
Please have a listen, as we analyze five essential points that will tell us what the market’s next direction is. (see video below)
Here are the top five questions answered:
1. Did we see a shallower top in the S&P 500 in mid-November?
2. With the recent flush to the downside, is there any bottoming patterns?
3. Where will the FAANG stocks go?
4. How are each of the Modern Family sectors doing and what can we expect?
And we end with:
5. Why should we be thankful for the stock market?
Interview with Michele Schneider:
Here’s the link to the article and interview: https://www.wfn1.com/interviews/investing/have-the-markets-reached-bottom-sector-by-sector-analysis-with-mish-schneider/
Trading levels for key stock market ETFs:
S&P 500 (SPY) – Friday close not very impressive. Recent low 259.85. Last week’s low 267. Resistance at 267
Russell 2000 (IWM) – 150 pivotal. Recent low 144.70
Dow Jones Industrials (DIA) – 248.50 resistance. 241.05 the October low.
Nasdaq (QQQ) -Made a new multi-month low today at 157.13. Resistance now at 160.09 the October low
KRE (Regional Banks) – If cannot get through 55, I’m guessing we move closer to 50 soon.
SMH (Semiconductors) – 86.95 recent low. 90.00 pivotal support. Resistance at 92.45, the 93.25. Only a monthly close over 94.60 can turn this around.
IYT (Transportation) – 186.50 now pivotal interim support with best support at 175-176. Resistance at 188.75 then major at 194.
IBB (Biotechnology) – The 200 WMA at 104.75-not only major resistance but could not clear on Friday. 100-101-a wall of support
XRT (Retail) – 45.00 pivotal, if clears back MAYBE a rally thereafter
Twitter: @marketminute
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.
