February 20, 2020
Mish's Daily
By Mish Schneider
Between the written interview with Stocks & Commodities Magazine and the live interview with TraderTV, they pretty much cover a lot of the ways I look at the markets.
For today, a verbal and a visual look at the macro picture both in equities and commodities.
Key levels follow.
Hope you enjoy!
On July 12-13, 2020, I will be speaking/teaching at the Modern Traders Summit in Philadelphia. Only 5 speakers, which means attendees will get a lot of attention, I hope to meet many of you there.
Russell 2000 (IWM) 167.40 the 10-DMA support to hold. 169.50 to clear
Dow (DIA) Closed right below the 10-DMA at 293.60-now pivotal
Nasdaq (QQQ) 233.29 support to hold on a closing basis
KRE (Regional Banks) Now we see if this can clear 57.00 and hold 55.00
SMH (Semiconductors) 148.90 support to hold on a closing basis
IYT (Transportation) Confirmed bullish phase and now, 200 resistance and 195.85 support
IBB (Biotechnology) Through 123.75 looks good with support at 122.61 to hold
XRT (Retail) Granny the surprise performer today. 46.54-46.57 important resistance
Volatility Index (VXX) If the Russells, Retail and Tran give up gains, go here
Every day you'll be prepared to trade with:
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