Indices and Key Sector Levels Only

November 26, 2019

Mish's Daily

By Mish Schneider

blankNew all-time highs again in the S&P 500, NASDAQ 100 and Dow.

Plus, a new multi-month high in the Russell 2000.

Otherwise, a quiet session with the same superstars.

In fact, the corporate buying continues in the highflyers like Disney, Alibaba, and Shopify. Apple interestingly, closed red.

The dollar is steady, but I still believe has topped out.

Interest rate yields lowered today which led to buying in gold and silver.

Plus, crude oil firmed.

With one more full trading session, followed by the Thanksgiving holiday, volume should remain light.

My eyes are on the Economic Family to see if after the weekend, the Retail sector gets some love or whether the tech sector shows signs of fatigue.

That, and a huge focus on commodities, will dominate our trading for the rest of 2019 and into 2020.

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S&P 500 (SPY) 314.28 the new ATH. That makes 311.35 the new pivotal support

Russell 2000 (IWM) 160.46-161 now the new pivotal support with 162.74 next resistance

Dow (DIA) The all-time high at 281.58. 279.25 support

Nasdaq (QQQ) All-time highs at 204.87. 202.70 the new pivotal support

KRE (Regional Banks) Inside day and holding 56.00, which it must continue to do.

SMH (Semiconductors) Inside day. 135.26 all-time high. 133 pivotal support

IYT (Transportation) 195 support now with 198.26 and 200 resistance areas

IBB (Biotechnology) 116 now the support with 120-123 resistance. ALL time here was made in 2015.

XRT (Retail) 44 support and 45.41 resistance

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