2/28/2018

Lincoln Oehlers | February 27, 2018

S&P 500 (SPY) Broke 276 last week’s top of the trading range.  272 level has to hold, or investors will get even more nervous. If it can get back over 276 early on and hold, good.

Russell 2000 (IWM) Once 154 broke, and this flashed unconfirmed warning, this sell off has the chance of becoming menacing to the bulls if it confirms the warning phase

Dow (DIA) Also broke support at 255 (top of the last week’s range). 252.60 is the 50 DMA

Nasdaq (QQQ) 168 now support as this is the closest to the January high of 170.95. If this rolls over, be cautious. I may not use this to judge the health of the economy, but if it holds 168, it should help the overall market for the time being.