While the dust settles on the “possible” removal of existing tariffs and the “possible” elimination of new ones scheduled for December 15th, let’s update with some key trading levels for stock market ETFs.
I will be sharing a more thorough commentary on the state of the financial markets over the weekend.
Below are trading levels for December 13 for important stock market index and sector ETFs:
SPDR S&P 500 ETF (SPY) – 313.35 or the 10 day moving average price support. 317.99 is the new all-time highs.
iShares Russell 2000 ETF (IWM) – 163.41 is now pivotal as this made a new 2019 high- still $9.00 away from the all time highs.
Diamonds Trust Dow Jones Industrials ETF (DIA) – 279.10 is the price support with new all time highs at 282.95
PowerShares Nasdaq 100 ETF (QQQ) – 204.00 or the 10 day moving average price support at 207.32 all time highs.
KRE (Regional Banks ETF) – 57.52 is now price support as this flew with the rising yields.
SMH (Semiconductors ETF) – 133.50 or the 10 day moving average is price support (this is the area that this blasted off today). 140.47 is the new all time highs.
IYT (Transportation ETF) – 195 is still the price area to clear with 191.40 as key price support.
IBB (Biotechnology ETF) 116.30 is key price support, while 122.97 is the 2018 high.
XRT (Retail ETF) 45.41 is now the key pivotal price area to hold if this is going to move higher.
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.