Chillin’ With Our Favorite T-Rex
Under the weather with a bad cold, so apologies for my brief commentary tonight.
With the market trying to find its way, my warnings over the weekend about the resistance channel in the Russell 2000 and the growing disparity among the Modern Family hopefully serves as a caution.
The S&P 500 has a record 36 days in a row without a +/-1% move.
Therefore, good time to hang back and exercise patience.
Meanwhile, here we sit inside an old RCA. We polished off a bottle of 19 Crimes, a red for the ages.
That leaves me and the yellow bird wide-eyed and red-cheeked hanging with our favorite T-Rex.
Please scroll down to the ETF analysis below.
S&P 500 (SPY) 229.71 all-time high. 228 pivotal support.
Russell 2000 (IWM) 138 key resistance, 135.50 pivotal and 133.50 key support
Dow (DIA) 200 now pivotal. Made a new all-time high today but closed closer to the intraday lows
Nasdaq (QQQ) 125 support after making new all-time highs
KRE (Regional Banks) 55 key support at the 50 DMA
SMH (Semiconductors) New all-time high.74.50 key support
IYT (Transportation) 165.33 the 50 DMA to hold.
IBB (Biotechnology) 285 big resistance and 277 big support
XRT (Retail) 42.00 the big support. A close over 43.20 better
IYR (Real Estate) Sideways
GLD (Gold Trust) Inside day above the 100 DMA 116.75 pivotal support
SLV (Silver) 16.50 now pivotal. 17.00 the 200 DMA
GDX (Gold Miners) 25.00 now pivotal support. Confirmed Accumulation Phase
USO (US Oil Fund) 11.60 next point to clear. 11.00 support
TAN (Solar Energy) On radar but could not get another day of decent volume
TLT (iShares 20+ Year Treasuries) Confirmed recovery phase
UUP (Dollar Bull) 25.65 support 26.20 resistance
Disclosure: None.
Thanks for your information. Dear