November 29, 2018
Mish's Daily
By Mish Schneider
During our weekly interview, Michael Yorba and I cover the following topics:
We answer:
Are we going to have an end of year rally or not?
Plus, stay tuned until the end when I introduce to you a very special and informative guest.
Click here to see the interview-have a pen and paper handy to jot down your next gameplan.
S&P 500 (SPY) 270 now support. And it was just last week we were looking at 276 resistance-that is the 200 DMA and 50 WMA-key to clear or not
Russell 2000 (IWM) Still by far the weakest which is concerning. 160 is to IWM as 193.75 is to IYT. What does that tell us? If IWM can get there, that’ll be the time to go short. And if it cannot get there, under 193.75 in IYT by week’s end, also a place to short
Dow (DIA) 251 the 200 DMA pivotal support
Nasdaq (QQQ) 164.50 now support. If this cannot close the week out over 170.60, trouble still looms
KRE (Regional Banks) 55.00 pivotal
SMH (Semiconductors) Needs a monthly close over 94.60 now pivotal support
IYT (Transportation) All about whether this can close out the week above the 50-WMA or 193.84
IBB (Biotechnology)111.14 is where this 50 WMA lives
XRT (Retail) 45.00 pivotal support with 47.50 resistance
GLD (Gold Trust) Once the dollar eased, this flew-now has to hold 114.50 and close the week out over 115.70
Every day you'll be prepared to trade with:
