October 4, 2017
By Mish Schneider
Tonight’s commentary can be found on Facebook live as KRE shows up to personally tell you who he is and why he’s a big part of the Modern Family.
Currently in a Bullish Phase on the Weekly Chart.
Should KRE break below 53.90, there is support on the daily chart at 53.40 and 52.70. Should the warning phase turn worse, the monthly chart support to hold is 47.70.
On the other hand, through 57.26, recent highs, next place to clear is the 2017 high or 59.68
S&P 500 (SPY) 250 pivotal support with this on new highs. A bit overbought here.
Russell 2000 (IWM) 145-146 ultimate support. 150 now pivotal support now this made another new high and reversed.
Dow (DIA) Held the gap and made new highs. 225.61 now pivotal as the gap low
Nasdaq (QQQ) 144.15 is support to hold now as this is still some ways from the recent all-time high. If you’re looking for trouble, a weekly close under 142.60 will bring some
KRE (Regional Banks) Watch video
SMH (Semiconductors) Took a rest
IYT (Transportation) New high then reversal-but not yet confirmed as a topping reversal just yet
IBB (Biotechnology) 340-343 resistance with now 337 pivotal support.
XRT (Retail) 41.75 the 200-DMA (unconfirmed recovery day). 42.23 big weekly resistance to clear
GLD (Gold Trust) 120.70 pivotal with a move back over 123.00 much better
GDX (Gold Miners) 22.80 support to hold. A move over 23.53 time to consider.
XME (S&P Metals and Mining) 31.60 key support
USO (US Oil Fund) A weekly close over 10.44 good. 10.00 support. Then 9.80
XLE (Sel Energy Spdr Fd) 68.65 the 200 DMA
OIH (Oil Service Holders) 25.40 should hold
TAN (Solar Energy) 21.00 major support to hold. Resistance at 22.00.
TLT (iShares 20+ Year Treasuries) 126 resistance with under 123.87 see 122.60 then 119.00
UUP (Dollar Bull) 24.30-40 big area to clear and 24.00 pivotal support
FXI (China) New 2017 highs after holding the 50 DMA. 44.50 now pivotal support
Every day you'll be prepared to trade with: