Due to scheduling conflicts, I am only able to provide a quick update on price levels for the stock market ETFs we follow.
One important note, five of the six economic modern family ETFs are having an inside week.
That means they are trading inside the range of last week.
The Russell 2000 ETF (IWM), Transportation Sector ETF (IYT), Retail Sector ETF (XRT), Semiconductors ETF (SMH), and Regional Banks ETF (KRE) all are posting inside weeks.
Only the Biotechnology Sector ETF (IBB) is not having one. Instead it is wedged between the 50 and 200-weekly moving averages.
S&P 500 (SPY) 228 support and 253 resistance
Russell 2000 (IWM) Inside week so far. 101.60 support and 112.56 resistance
Dow Jones Industrial Average (DIA) Inside week. Support 190 resistance 216.35
Nasdaq (QQQ) 175 support 192.35 resistance
KRE (Regional Banks) Inside week-31.65 resistance 30.00 support then 27.26
SMH (Semiconductors) Inside week. 105 support 115 resistance
IYT (Transportation) Inside week 123 support 137.70 resistance
IBB (Biotechnology) 105.22 pivotal-Over 106.80 could take this to 110
XRT (Retail) Inside week 30.00 resistance
Volatility Index (VXX) Inside week-50.00 pivotal
Junk Bonds (JNK) Inside week. 94 resistance 87 support
LQD (iShs iBoxx High yield Bonds) 120 pivotal support
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.