01/24/2023

Mish Schneider | January 23, 2023

S&P 500 (SPY) SPY has crossed the 200-DMA and is now slightly above it, but is still a very narrow price range below to 50-DMA. Held pivotal support and now what was resistance is support at the 200-DMA and resistance is 405 overhead.

Russell 2000 (IWM) Filled the gap and continued to hold the 200-DMA and overhead resistance at 189.

Dow (DIA) Back under the 50-DMA STILL as industrials lose ground to tech, but holding support at 335 and looking to cross the 50-DMA at 336.07

Nasdaq (QQQ) Crossed the 50-DMA on Friday to close above. First level of resistance is at the 200-DMA and closing slightly below it.