Stock Market and Sector ETFs: Important Price Levels Loom

From Monday’s stock market blog:

Do keep your eyes on the potential bear flag should S&P 500 ETF NYSEARCA: SPY break down under 284.75. That will be a first clue of further weakness to come.

Technically, stock market bulls want to see the S&P 500 (SPY) have a weekly close over 290.

Here are the rest of the levels.

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S&P 500 (SPY) Big range from 280-290 must reconcile.

Russell 2000 (IWM) 148.25 resistance with nothing terribly exciting unless it clears 152-153. Downside key support at 145 then 140.00

Dow (DIA) 263 is key price resistance and 256 very key support.

Nasdaq (QQQ) 2 inside weeks. 176.75 huge support with 189 point to clear.

KRE (Regional Banks) 46.23 is the monthly MA support-below a game changer for sure.

SMH (Semiconductors)  Resistance at 115.75. 112.70 pivotal and 106.75 

IYT (Transportation) Under 175 more trouble.

IBB (Biotechnology) Broke the 200 WMA at 102.71

XRT (Retail) Under 37.80 and more trouble ahead.

Bonus-USCI (US Commodity Index)  One to keep eyes on-double bottoms at 34.59-like if closes over 35.37 on a weekly basis.

Twitter:  @marketminute

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.