March 3, 2025
Mish's Daily
By Mish Schneider
Over the weekend I warned about the weakness in the Semiconductor sector (SMH).
I also wrote about Granny Retail XRT, and how important it is for that sector to stay alive.
Both SMH and XRT are not giving bulls warm and fuzzies.
In fact, outside of the gold and silver futures, there is not much to be cheerful about.
However, since it is Technical Monday, and the Family offers us a great technical guide, I am focusing right now on Biotechnology IBB.
While the current chart (weekly) does not make us jump up and down for joy, it does at least offer us some levels to watch for opportunities.
On the weekly chart above, IBB is breaking under the 200-week moving average.
That is not exactly a good sign.
However, since it is a weekly chart, it is the price this coming Friday that will be most important.
On the Daily chart, the momentum and the price are declining together.
The price shows huge support at 130.
IBB is on par with the S&P 500 on the Leadership indicator.
While IBB struggles it is still above the January 6-month calendar range low (red horizontal line). Should 130 hold, we can look for a reversal.
The best news is that this sector still has a chance.
Looking at the longer timeframe, monthly, IBB is maintaining its move above the 23-month moving average (blue).
Essentially, I chose to write about this sector as we see a lot of support between 130-135.
Hence, should IBB hold and turn upward, there is a very low risk and potentially high reward.
Educational purposes only, not official trading advice.
For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
-----Get your copy of
Plant Your Money Tree: A Guide to Growing Your Wealth
Grow Your Wealth Today and Plant Your Money Tree!
"I grew my money tree and so can you!"- Mish Schneider
Mish in the Media-Want to see more? All clips here
Outlook 2025, the PDF This will set you up on the right side of the market along with many picks
Financial Sense with Jim Puplava Mish and Jim talk stagflation, and how to trade this market 02-28-25
Cabot Street Check Actionable and timely information with Mish and Chris Cabot 02-28-25
Business First AM How to hunt for low-risk stocks with one example 02-27-25
Coming Up:
March 5 BNN Bloomberg
March 5 Buy, Hold, Sell Podcast
March 5 BFM 89.9 Radio Singapore
March 10 Maggie Lake
March 19 CNA Asia
April 4 The Money Show in Dallas
Weekly: Business First AM
ETF Summary
(Pivotal means short-term bullish above that level and bearish below)
S&P 500 (SPY) 570-575 now an area to watch for support.
Russell 2000 (IWM) It would be healthy to see this pop over 214 and hold
Dow (DIA) 432 support must hold
Nasdaq (QQQ) Broke the January calendar range low and now has to hold and get back over 500
Regional banks (KRE) 60 area support-a move over 62 better
Semiconductors (SMH) 220 support. 240 resistance
Transportation (IYT) 67-68 support
Biotechnology (IBB) 130 support 135 resistance
Retail (XRT) 71.13 was last Septembers low.
iShares 20+ Treasury Bonds (TLT) Testing major resistance
Every day you'll be prepared to trade with:
