8/15/18

Lincoln Oehlers | August 14, 2018

S&P 500 (SPY) Inside day. Friday’s high of 284, confirmed to be resistance, then 285 should be serious resistance. Today’s low needs to hold. Under that the 280 level is big.

Russell 2000 (IWM) More consolidation. Lots of resistance near 169. Look for support around today’s low, then 165 and the swing low at 164.

Dow (DIA) Inside day. 255 likely to be strong resistance. 258 is the next swing high. Today’s low is support to hold, then swing low at 251.

Nasdaq (QQQ) 182.93 is the all-time high, and the key support is at 179 then 177.75 then the 50 DMA at 175.80