November 25, 2013
Mish's Daily
By Mish Schneider
One, but you really have to squeeze him in!
Light volume, digestion of prices, no radical change in the breadth of the market-as predictable ahead of Thanksgiving-or “Thanksgivingukkah”- as are long airport lines, turkey, stuffing and football! An optimist is a person who starts a diet on Thanksgiving Day. So, it seems, are the folks just realizing the market is on new highs.
S&P 500 (SPY) A rising fast moving average now, 179 becomes pivotal.
Russell 2000 (IWM) 113 now likely with 111 area support near term
Dow (DIA) The rising fast moving average here is 159.15
Nasdaq (QQQ) Hit 4000 then retreated a bit but the ETF new highs
XLF (Financials) Yup, new highs!
SMH (Semiconductors) Holding the 50 DMA and when Intel stops getting hit, should be a good place to look for a long
XRT (Retail) Quiet ahead of Black Friday.
IYT (Transportation) 128 support and 129.63 the 2013 highs
IBB (Biotechnology) “New 2013 highs good for $25-30 over time.” Written last Thursday. On Friday it moved up 7.00 into that projected forecast! On Monday it climbed another $3.00 to put this $10.00 in to that predicted target.
IYR (Real Estate) Inside day and looking heavy-at some point this has to catch up or the market will get jittery.
XHB (Homebuilders) 31.00 new area of support to hold
GLD Almost a complete reversal candle but didn’t fit the criteria by the close. For now, more of a short covering rally
USO (US Oil Fund) Opened weaker and if breaks 33.45, could see lower prices. Over 34.10 way better
OIH (Oil Services) “Not cooperating with the other groups-where to go for a short..” From the weekend-now heading closer to support
IFN (India Fund) Inside day.
FXI (China) No more runaway gap on daily chart, but still in a good short on the weekly chart
FCG (First Trust ISE Reserve NatGas) 20.00 pivotal
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