12/19/2022

Mish Schneider | December 18, 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) 170 support and 176 resistance

Dow (DIA) 324 first level of support and 334 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; 270 is support and 278 first level of resistance