08/07/2023

Mish Schneider | August 6, 2023

S&P 500 (SPY) 450 pivotal 440 support at the 50-DMA

Russell 2000 (IWM) 191 is the 23-month holy grail 193 July 6-month range hi

Dow (DIA) 35,000 support

Nasdaq (QQQ) 365-380 range

Regional banks (KRE) Back over 48 looks ok and under 44 not so much

Semiconductors (SMH) 161 now more in the rear view-150 in focus

Transportation (IYT) July 6-month calendar range high at 259.30-closed below it-caution

Biotechnology (IBB) Compression between 123-130

Retail (XRT) 66-67.40 short-term range