Nasty Potential Topping Pattern in the Four Indices

February 25, 2019

Mish's Daily

By Mish Schneider

If a picture of the Russell 2000 says 2000 words, then today’s potential topping pattern could say a lot more.

Abbreviated Levels below: (computer issues today)

S&P 500 (SPY) 280.40 the last December swing high before the crash. With the close below, possible top is in. 276.00 is next the important support to hold on a closing basis

Russell 2000 (IWM) November 8th high 157.90 is now pivotal. It’s also where the 200-DMA is. Since it managed to close above, 157.90 pivotal for Monday on a closing basis.

Dow (DIA) 260.30 was the last swing high before the crash. Friday high 260.40. If closes below tomorrow-weak. Then support at 258.70 and 256.25.

Nasdaq (QQQ) 172.10 the 200-DMA pivotal. Nasty reversal patterns in all indices if we get another day of weakness to confirm that.

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