Recently, I did a written interview with Stocks & Commodities Magazine as well as a live interview with TraderTV.
They pretty much cover a lot of the ways that I look at the financial markets.
The video interview is embedded below.
For today, we will just have a visual look at the macro picture both in equities and commodities. Equities remain resilient but there are some important levels to watch on the S&P 500 (SPY), Russell 2000 (IWM), and more.
Enjoy the video and see our key ETF trading levels below.
Hope you enjoy!
On July 12-13, 2020, I will be speaking/teaching at the Modern Traders Summit in Philadelphia. Only 5 speakers, which means attendees will get a lot of attention, I hope to meet many of you there-https://moderntraderssummit.com/2020-speakers/
S&P 500 (SPY) 336.04 the 10-DMA to hold on a closing basis.
Russell 2000 (IWM) 167.40 the 10-DMA support to hold. 169.50 to clear.
Dow (DIA) Closed right below the 10-DMA at 293.60-now pivotal.
Nasdaq (QQQ) 233.29 support to hold on a closing basis.
KRE (Regional Banks) Now we see if this can clear 57.00 and hold 55.00
SMH (Semiconductors) 148.90 support to hold on a closing basis.
IYT (Transportation) Confirmed bullish phase and now, 200 resistance and 195.85 support.
IBB (Biotechnology) Through 123.75 looks good with support at 122.61 to hold.
XRT (Retail) was the surprise performer today. 46.54-46.57 important resistance.
Volatility Index (VXX) If the Russell’s, Retail and Transportation sectors give up gains, go here.
The author may have a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.