The Market Has Come Down to These Key Sectors

August 14, 2024

Mish's Daily

By Mish Schneider

Let’s make this real easy.

After inflation data, speculation on the next moves from the FED, fears of recession, calls for soft landing and so forth and so on, I want, no crave, simplicity.

Calling on my Economic Modern Family, we got 2 of them offering us the easy answers of what comes next in the overall market.

Our dear Granny Retail XRT will tell us a lot after the economic data already out, and then the retail sales and earnings reports.

This is a weekly chart.

Pretty clear-

With price sitting right on the 200-weekly moving average, if XRT closes above it or below it, next moves will be obvious.

For those playing along, that number is 73.50-write it on a post it and paste it to your computer screen.

Transportation IYT.

Charles Payne asked me about it on his show this week (clip below).

IYT directly ties in with retail-if people are buying, goods are moving.

This is a weekly chart.

With price sitting right on the 50-weekly moving average, if IYT closes above it or below it, next moves will be obvious.

For those playing along, that number is 64.25-write it on a post it and paste it to your computer screen.

Yes friends, with some patience and a plan with real numbers, you can do this!

On another note, here is the correct link to the conversation between Maggie Lake and me. Apologies for the error.

Educational purposes only, not official trading advice.

For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.
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Mish in the Media-Want to see more? All clips here

Business First AM Mish talks bonds, movement to growth, gold and gold miners 08-12-24

Interview with Maggie Lake Maggie and Mish cover gold, bonds, tech, solar, emerging markets, the vanity trade and more 08-12-24

Making Money with Charles Payne Mish and Charles discuss evidence for both risk on and risk off and why stagflation is the best definition 08-12-14

Business First AM All About Holding Rivian for the Longer Term 08-07-24

Better Trader Systems Podcast Mish goes teacher and explains how easy trading can be if you know about phases 08-07-24

Coming Up:

August 15 Real Vision

*August 16-25 MISH ON VACATION

Weekly: Business First AM, stockpick.app

ETF Summary

S&P 500 (SPY) 540 cleared which makes this level pivotal

Russell 2000 (IWM) 210 resistance 199 support

Dow (DIA) 400 pivotal

Nasdaq (QQQ) 475 area resistance

Regional banks (KRE) 50-52 support