5/11/18

Lincoln Oehlers | May 10, 2018

S&P 500 (SPY) Confirmed bullish phase on this impressive albeit low volume rally. Bias now turns from neutral to friendly to friendly. The tinderbox of issues in the geopolitical world could ignite at any time, so 267-268 is max risk here.

Russell 2000 (IWM) 160.63 all -time high. Today’s high 160.17. 158 pivotal support which if fails, would give bears a low risk opportunity to short against the highs. Should it clear ATH’s, a $10 move up is not out of the question

Dow (DIA) Who can forget Terror at 25,000 in the Dow? Not me-so that’s the resistance (250) with now 245 support to hold

Nasdaq (QQQ) Until this fills the gap to 170.93 left on 3/17, I would go gung ho long. However, 168 is a great place to use a stop loss or reversal