Bulls Return-Was it Enough?

September 30, 2019

Mish's Daily

By Mish Schneider


blankSince we want consistency in a market and world that lacks it, we go to our reliable economic Modern Family’s weekly charts once again.

Shortened commentary today, let’s get right to the levels on the chart

S&P 500 (SPY) Inside day. The 50-DMA at 294.68 pivotal. Only gets good on a close over 298.25

Russell 2000 (IWM) Inside day. Unconfirmed caution phase. Support at 150.50, and a move/close over the 152 would be better for the bulls.

Dow (DIA) Inside day. Holding above the 50-DMA at 265.87. Has to clear 270 resistance.

Nasdaq (QQQ) Inside day. Confirmed caution phase with a 189 resistance, 185 minor support, and 180 underlaying support.

KRE (Regional Banks) Off the weekly charts, 52.23 to 54.00 the immediate the range to break.

SMH (Semiconductors) Inside day. 116.41 is the 50-DMA. 120 the resistance to clear

IYT (Transportation) Inside day. Unconfirmed bullish phase and holding weekly support at 185. Through 188.45 better

IBB (Biotechnology) Inside day. 100 pivotal, 101.28 resistance and 98.70 support to hold.

XRT (Retail) 42.40 pivotal with 43 resistance and 41.74 nearest support

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