6/04/19

Aldrin Gonzales | June 3, 2019

S&P 500 (SPY) 277 resistance to clear. Confirmed Distribution phase-next support area 271.50.

Russell 2000 (IWM) Support around 145. Better at 138. And resistance at 148.40

Dow (DIA) 250 pivotal

Nasdaq (QQQ) Confirmed Distribution phase 167.45 support. Over 174.54 could give it a bounce

KRE (Regional Banks) 49.00 some support with 51.40 the big overhead resistance

SMH (Semiconductors) 101.07 the 200-DMA resistance to clear but better if it clears 101.72 the 50-WMA. Support at 97.61, this past week’s low

IYT (Transportation) 178 resistance with 167.50 the best support

IBB (Biotechnology) Some news boosted this above 100. However, the move today was not enough for a bonafide reversal pattern

XRT (Retail) 40.00 held -perhaps due for a dead cat bounce.

GLD (Gold Trust) Gapped above the 124 resistance, now support.

GDX (Gold Miners) We are in

SLV (Silver) The ratio flipped a little so watching carefully.

URA (Uranium) Cleared 11.68-if sticks could see a rally to around 12.10

USO (US Oil Fund) 10.77 support

TAN (Solar Energy) 25.64 near-term support

TLT (iShares 20+ Year Treasuries) 130.81 support

UUP (Dollar Bull) 26.14 the 50-DMA

EEM (Emerging Markets) 41.65 resistance

INDA (India) 38.21 all time highs with today’s gap, 36.30- number to hold

GBTC (Bitcoin Grayscale Bitcoin Trust) If this holds today’s low and especially 10.77, could go up again

MJ (Alternative Harvest ETF) Like to see 30.00 hold

WEAT (Teucrium Wheat Fund) 5.50 now pivotal

JO (Coffee) Sold off today with support at 34.50-35.00

CANE (Sugar) 7.00 pivotal

Soybeans (SOYB) Over 15.65 move should continue

DBA (Agriculture) 16.50 major pivotal area