12/17/18

Lincoln Oehlers | December 16, 2018

S&P 500 (SPY) 269.40 is the number this must clear to improve outlook. Friday was a new closing low for the correction. Noteworthy, 259.85 is Friday’s low and the low from October. The low of the recent correction is 258.62.

Russell 2000 (IWM) 147.50 is the number we need to clear to change our short-term perspective to bullish. Friday’s break below 142 suggests 134 may be likely.

Dow (DIA) 233.20 is important support and the 2018 low made in April. And a close under 240.50 would make that more likely.  A close over 252 would be bullish.

Nasdaq (QQQ) Held the critical 160 level. Still needs to clear back over 168 to get positive for a mini to swing trade.