01/27/2023

Mish Schneider | January 26, 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 still.

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

Dow (DIA) Back over the 50-DMA and holding support at the 50-DMA at 341 is resistance.

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