Stock Market Index/Sector ETFs: Trading Price Levels for November 27

Michele Schneider

New all-time highs again for the S&P 500, NASDAQ 100 and Dow Jones Industrials.

Plus, a new multi-month high for the Russell 2000 Index.

Otherwise, a quiet session with the same superstars.

In fact, the corporate buying continues in the highflyers like Disney, Alibaba, and Shopify. Apple interestingly, closed red.

The dollar is steady, but I still believe has topped out. 

Interest rate yields lowered today which led to buying in gold and silver.

Plus, crude oil firmed.

With one more full trading session, followed by the Thanksgiving holiday, volume should remain light.

My eyes are on the Economic Family to see if after the weekend, the Retail sector gets some love or whether the tech sector shows signs of fatigue.

That, and a huge focus on commodities, will dominate our trading for the rest of 2019 and into 2020.

S&P 500 (SPY) 314.28 the new ATH. That makes 311.35 the new pivotal support.

Russell 2000 (IWM) 160.46-161 now the new pivotal support with 162.74 next resistance.

Dow Jones Industrials (DIA) The all-time high at 281.58. 279.25 support.

Nasdaq (QQQ) All-time highs at 204.87. 202.70 the new pivotal support.

KRE (Regional Banks) Inside day and holding 56.00, which it must continue to do.

SMH (Semiconductors) Inside day. 135.26 all-time high. 133 pivotal support.

IYT (Transportation) 195 support now with 198.26 and 200 resistance areas.

IBB (Biotechnology) 116 now the support with 120-123 resistance. ALL time here was made in 2015.

XRT (Retail) 44 support and 45.41 resistance.

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.

NOT INVESTMENT ADVICE – PLEASE READ INVESTMENT DISCLAIMER.