February 7, 2019
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S&P 500 (SPY) A weekly close over 269 will keep the bulls in the game. Under 266.24 will embolden the bears. A close over 272.58 will excite the bulls. Subscribers: Negative Pivots in all
Russell 2000 (IWM) A weekly close under 147.95 not so healthy. Above 152.40 a miracle. In between, I’d use 150 as pivotal.
Dow (DIA) A weekly close over 248.96 will keep the bulls in the game. Under 246.47 will embolden the bears. A close over 254.35 will excite the bulls as we are above the 200-DMA but working a reversal topping pattern.
Nasdaq (QQQ) A weekly close over 166.68 will keep the bulls in the game. Under 165.29 will embolden the bears. A close over 170.14 will excite the bulls.
KRE (Regional Banks) Looking at 53.22 to hold if good and 56 the next viable resistance
SMH (Semiconductors) 100 failed, so could be the toping candle the bears are waiting for-unless it closes back over 101
IYT (Transportation) 180.93support to hold 185.37 weekly resistance to clear.
IBB (Biotechnology) 109.92 the 50-WMA resistance. 107 the weekly support that needs to hold
XRT (Retail) 44.60 pivotal for the week. 43.50 the must hold spot
GLD (Gold Trust) Inside day. So that could mean a range break up or down will tell us next direction
GDX (Gold Miners) 21.80 support
SLV (Silver) 14.58 the recent gap low to hold. Back over 14.80 better
USO (US Oil Fund) A gap over 11.69 would be compelling.)
TLT (iShares 20+ Year Treasuries) 122 resistance with 119.50 support
UUP (Dollar Bull) 25.70 resistance
Soybeans (SOYB) 16.25 back to pivotal support. 16.73 the 6-month Calendar range high-watch this
DBA (Agriculture) 17.00 pivotal
