12/16/2022

Mish Schneider | December 15, 2022

S&P 500 (SPY) The 50-WMA looms above with resistance at 410; unless that level is cleared, SPY could fall to the 50-DMA support level at 380

Russell 2000 (IWM) 190 is resistance, 177-180 support must hold. It now at 176. Next level of support 172

Dow (DIA) 328 first level of support and 337 first level of resistance. The only index above its 50-WMA; Tuesday’s action may have spawned a key reversal top if DIA cannot reach 348 again

Nasdaq (QQQ) Matched recent highs at 297 before selling off on Tuesday; can it hold 277? Closed around 277 so now next pivotal support is 275 and 280 first level of resistance