Market Update & Interview: Investing Trends to Follow This Year

Michele Schneider
investing trends for year 2020 image michele schneider

Instead of written commentary today I invite you to have a listen to a segment I did with Shannah Game in early December.

In 37 minutes, we go through discussions on macro themes such as gold, soft commodities, megatrends for 2020 to follow and what to expect in an election year.

One little treat we discuss is Beyond Meat’s stock (BYND), which today exploded from its recent trading range.

To follow up on last evening’s stock market update, below is a quick note on the market… 

Last night, I posted 2 charts. One of the Transportation sector ETF (IYT) and one of the Russell 2000 (IWM).

That information turned out to be actionable and timely.

In IYT, we saw that the 50-DMA is at 194.57.

We noted that the slope on the 50-DMA is neutral and that in order for a confirmed phase deterioration to caution, IYT had to close below the 50-DMA again.

We said that, “The key here for the bulls is that IYT closes tomorrow back over the 50-DMA.”  

The Russell 2000 IWM, still has more work to do in order to clear the 10-DMA at 165.89 and hold above there.

IYT showed the bulls promise today and kept the bullish phase intact. 

If it continues to close above 194.60 and can clear and close above 195.82 tomorrow, I would not be surprised to see IWM play catch up.

Although I recorded the podcast in early December, it was released today.

The information remains quite relevant. 

Check out my podcast appearance with Shannah Game on Millennial Money Investing Trends to Follow in 2020

In case you need the link separately:

S&P 500 (SPY) had an inside day. SPY is sitting on the 10 day moving average, making 322.50 pivotal. 324.89 is the all time highs. 320 is key price support.

Russell 2000 (IWM) had an inside day. Must clear 167.12 to remain bullish. 165.80 is pivotal with 163.70 being key price support.

Dow Jones Industrials (DIA) had an inside day today. All-time high 288.63 with 285.50 being pivotal for the ETF.

Nasdaq (QQQ) all time high is at 216.16 with today’s high coming in at 216.14. Pivotal price support is at 213.75

KRE (Regional Banks) 56.70 is the 50 day moving average.

SMH (Semiconductors) all time high is at 144.94 with 140 being a pivotal price level. A move below that could see a decline to 135.

IYT (Transportation) 195 is a pivotal area. 200 is key price resistance, while 192.74 is support.

IBB (Biotechnology) 121.50 is price resistance, while 115.50 is support.

XRT (Retail) 45.41 is pivotal price level, 46-47 is price resistance. Note the 50 day moving average is at 44.70

Twitter:  @DanRusso_CMT

Author may have a position in 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.