March 18, 2014
Mish's Daily
By Mish Schneider
Michelle Schneider will be on vacation until 3/21. In her absence, Matthew Mullins ( Assitant Director of Trading Education and Research, and leader of the Day Trading chat room) will prepare the abbreviated Evening Watch.
S&P 500 (SPY) 187.99 is the next hurdle. The upward sloping 10 DMA should be support.
Russell 2000 (IWM) 120.58 is the all time high. The 10 DMA, at 118.74, should be support.
Dow (DIA) Closed over the 50 DMA for the second day in a row to put DIA back into a confirmed bull phase.
Nasdaq (QQQ) Back over the 10 DMA. Watch for 90.19 to hold.
XLF (Financials) The 1/15 swing high and the 10 DMA line up and can be resistance. They are both 22.16.
SMH (Semiconductors) Nearing multi year highs at 44.84.
IYT (Transportation) Nearing resistance at 136.94.
IBB (Biotechnology) Nice bounce off of the 50 DMA and appears to be picking up momentum.
XRT (Retail) Watch to see if the 10 DMA can hold at 86.46.
IYR (Real Estate) Support at the 68.50 area. Looks better over 68.69.
XHB (Homebuilders) Broke out of the range of the 3/13 candle but closed back in it.
GLD 130.15 fills the gap.
USO (US Oil Fund) Back in an unconfirmed Recovery phase.
XOP (Oil and Gas Exploration) Over the 10 DMA. 69.32 should hold.
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