July 17 Trading Analysis For Key Stock Market ETFs

Michele Schneider

Below are several important stock market ETFs with trading analysis for Wednesday, July 17.

Each index and sector ETF includes key price support and/or resistance levels

S&P 500  (NYSEARCA: SPY) – 301.13 printed a new all-time high. 298.75 pivotal support. 

Russell 2000 (NYSEARCA: IWM) – 154.55 is the major pivotal 50-WMA to hold. 158 resistance. 

Dow Jones Industrials (NYSEARCA: DIA)  – 273.99 the new all-time high. 270.30 pivotal.

Nasdaq (NASDAQ: QQQ)  – 194.19 the new all-time high. 191.90 support.

KRE (Regional Banks)  – Unconfirmed Recovery phase. Over the weekend we mused that if this cannot clear 54.95 the 50 WMA, it could spell the end of the rally. Watch support at 51.80

SMH (Semiconductors)  – 115.70-116 resistance. Support at 112.25 to hold.

IYT (Transportation) – Carried the ball today with great earnings in DAL. Now, must hold 191.73 today’s lows. Resistance at 200.00

IBB (Biotechnology)  – 109.15 now resistance and 105.35 the 50-DMA pivotal support-which it’s holding by the skin of its teeth.

XRT (Retail) – Inside day. Over 43.50 should continue higher. Major support at 42.45

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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.