August 27, 2019
By Mish Schneider
Do keep your eyes on the potential bear flag should SPY (S&P 500) break down under 284.75. That will be a first clue of further weakness to come.
Technically, bulls want to see SPY have a weekly close over 290.
Russell 2000 (IWM) 148.25 resistance with nothing terribly exciting unless it clears 152-153. Downside key support at 145 then 140.00
Dow (DIA) 263 key resistance and 256 very key support
Nasdaq (QQQ) 2 inside weeks. 176.75 huge support with 189 point to clear
KRE (Regional Banks) 46.23 is the monthly MA support-below a game changer for sure
SMH (Semiconductors) Resistance at 115.75. 112.70 pivotal and 106.75
IYT (Transportation) Under 175 more trouble.
IBB (Biotechnology)Broke the 200 WMA at 102.71
XRT (Retail) Under 37.80 more trouble
Bonus-USCI (US Commodity Index) One to keep eyes on-double bottoms at 34.59-like if closes over 35.37 on a weekly basis.
Every day you'll be prepared to trade with: