The Irrefutable 200 DMA $SPY $IWM $QQQ

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After the comments made coming into Monday's low volume session- (3 signs of a bottom), I am only more encouraged that regardless which way the market goes from here, with inside days in ALL indexes, we have a great strategy to following the way the range breaks by either buying confirmed strength or choosing to short breakdowns or at the very least staying in cash if RSIs are too low and risk/reward is not clear.

Note: Check out TA Stocks and Commodities Magazine- November issue, https://www.traders.com/index.php/sac-magazine/departments/free-articles/1876-michele-mish-schneider. Come meet Keith and me in Las Vegas 11/14-11/18 at Caesar's Palace.

S&P 500 (SPY) Inside day and closed over the 200 DMA with an unconfirmed warning phase. If holds and takes out Monday high, could see 140.50 area quickly. Otherwise, back under the 200 DMA could see 135.

Russell 2000 (IWM) Inside day. If this gets back over 80 would go long but ultimately has to cross the 200 DMA to stick

Dow (DIA) Inside day. 129.75 the 200 DMA.

NASDAQ 100 (QQQ) 2 Inside days. That means real indecision at these levels and certainly following on the range break. Worked off some of the oversold weekly RSI.

ETFs:

GLD Stopped dead in its tracks at the 50 DMA keeping the weak warning phase intact. 166 remains pivotal
SLV Closed over the weekly moving average but not the 50 DMA. 31.00 big area to hold

XLF (Financials) Inside day. As long as 15.45 holds, a chance to see if this has legs to get back over 15.85-a very clear healthy sign. Otherwise, likely to see the 200 DMA

IBB (Biotechnology) Gap higher needs to hold or quick trip back to test 129

SMH (Semiconductors) Inside day. Closed below the fast moving average. That makes 31.80 an area that has to clear for more upside.

XRT (Retail) Inside day. Held the 200 DMA.

IYT (Transportation) Returned over Friday high closing marginally above.

IYR (Real Estate) Inside day and confirmed distribution phase and a very important piece of the puzzle in the case of seeing more upside. Has to close back above the 200 DMA.

USO (US Oil Fund) Inside day. Not oversold so a good place to look at for shorts

XLE (Energy) Landed on the 65-weekly moving average. Now, has to get back over the 200 DMA to be a contender.

TBT (Ultrashort Lehman 20+ Year Treasuries) The bleed has to stop here as well.

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