Pure Poetry $SPY $QQQ $DIA $IWM $SPY

October 17, 2013

Mish's Daily

By Mish Schneider

Haiku by Mish

One stock said to an

other while making new highs:

this market is whacked!

S&P 500 (SPY) 173.60 is the 2013 high which we got really close to by end of day. Now, perhaps a bit of exuberance-expect a digestion day but won’t rule out a melt up either.

Russell 2000 (IWM) New highs and not on blow out type volume so should be good to go

Dow (DIA) Closed slightly red but away from the 50 DMA. Unless, that level breaks, still looks ok.

Nasdaq (QQQ) Back in 2000, the last gasp high before a correction was 84.94-not ruling that out either

XLF (Financials) 20.93 is the 2013 highs to clear

SMH (Semiconductors) New highs and a bullish engulfing pattern. See semis run-run semis run!

XRT (Retail) 83.24 is the 2013 high to clear to keep this going

IYT (Transportation) 121.00 is the 2013 high

IBB (Biotechnology) Confirmed bullish phase. If clears 208.50 like better.

IYR (Real Estate) 67.77 is the 200 DMA

XHB (Homebuilders) Cleared those gorgeous converging moving averages.

GLD Back to eyeballing the 50 DMA as resistance

OIH (Oil Services)New 2013 highs

XLE (Energy) Inside day

XOP (Oil and Gas Exploration) I have no position in the ETF, but this still excites the heck out of me to watch

TBT (Ultrashort Lehman 20+ Year Treasuries) TLT continued its accelerated run over the 50 DMA

EWG (Germany) New highs

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