September 24, 2012
Mish's Daily
By Mish Schneider
Low volume nothing day to begin the week. And, pretty much expect it to stay quiet again for the next couple of days. That means a quiet choppy drift, which will be good for a resumption of the rally.
S&P 500 (SPY) 144.65 area the support.
Russell 2000 (IWM) Held key support finishing the day with a doji.
NASDAQ 100 (QQQ) 68.90 next support as this gapped under the fast moving average.
ETFs:
GLD Yes this could go to 2000, but for now, Friday's high with today' gap lower is toppy with next support 164.
XLF (Financials) 15.71 was the 3 day high a few weeks ago. Held today. Now, want to see it clear 16.01 again
IBB (Biotechnology) With 4 trading days left to the month, watching to see if hold the close of last month considering it has done that all but one time this year
XRT (Retail) Staying out of its way for now
IYR (Real Estate) Held the 50 DMA which means good one to watch for reentry long
XLE (Energy) Held last week's low so good to watch.
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