July 25, 2019
By Mish Schneider
Weekly chart on Modern Family.
Regional Banks KRE back under 50-WMA at 54.60
Transportation inside week.
Retail XRT and Biotechnology IBB struggling.
The Russell 2000 IWM must hold 154.
Semiconductors SMH strong, but under 120.70 suspect.
Russell 2000 (IWM) 155 support and then with the inside day, 154 major.
Dow (DIA) 273.99 all-time high. 270.80 pivotal. 269.50 next support.
Nasdaq (QQQ) New ATH at 195.16. 193.15 pivotal support
KRE (Regional Banks) Back under 54.62, the place for this to hold or not by week’s end.
SMH (Semiconductors) ATH at 123.56. 120.71 now pivotal support.
IYT (Transportation) Inside day. 195.65 the high from 7/16 to clear. 192.40 pivotal, support at 190.94 must hold.
IBB (Biotechnology) 105.20 the 50-DMA failed
XRT (Retail) I’ll be looking for this to close above or below 43.12 a sign of more strength or not.
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