Highlights from Sunday’s Market Comments

October 14, 2019

Mish's Daily

By Mish Schneider


Quiet holiday trading prevailed.

The Russell 2000 IWM had a narrow trading day and an inside day.

Yields fell and the metals rose.

The key trading levels from Friday are pretty much the same.

The charts of the Economic Modern Family are on a weekly timeframe.

A perfect inflection point for Monday, IWM remains priced under the 50-WMA (blue).

Regional Banks KRE, still trades under both the 50 and 200-WMAs

Transportation IYT remains under the 50-WMA.

Granny Retail XRT never tried to pierce those weekly MAs. Phase is bearish.

Biotechnology IBB, also gained in price, yet it too is underneath the major weekly MAs.

And our wonder woman sister Semiconductors SMH, had the best day of the Family, rising by about ¼%.



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 S&P 500 (SPY) 293.34 pivotal support or the 50-DMA. 300 resistance

Russell 2000 (IWM) 148.50 support and 151.95 resistance.

Dow (DIA) 264.50-265 pivotal support 270 resistance

Nasdaq (QQQ) 188 pivotal support 193.30 resistance

KRE (Regional Banks) 51.35 support 52.80 resistance-also an inside week.

SMH (Semiconductors) 120 support and 124 resistance

IYT (Transportation) 185 resistance with support at 181.25

IBB (Biotechnology) 100 pivotal 102.50 resistance

XRT (Retail) 43-44 huge resistance. 41.50 support

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