Stock Market Update: The Next Leading Indicator

Today’s daily stock market update contains two videos by Mish from the studios of 

The first video is Mish’s Daily Five

In this video Mish explains why Grandma Retail (XRT), may become our new leading indicator. 

In addition, Mish reviews how to trade the current conditions in not five but six retail stocks.

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xrt retail stocks etf trading decline lower consumer spending chart may 5

The second video is Mish on StockCharts’ Final Bar with David Keller

In this interview they discuss why Mish believes that yields will peak in May, what to expect next in gold, and more!

Stock Market ETFs Trading Analysis & Summary

S&P 500 (SPY) 23-month MA 420

Russell 2000 (IWM) 170 support – 180 resistance

Dow (DIA) Over the 23-month MA-only index

Nasdaq (QQQ) 329 the 23-month MA

Regional banks (KRE) 43 now pivotal resistance

Semiconductors (SMH) 246 the 23-month MA

Transportation (IYT) 202-240 biggest range to watch

Biotechnology (IBB) 121-135 range to watch from monthly charts

Retail (XRT) 56-75 trading range to break one way or another

Twitter: @marketminute

The 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 represent the views or opinions of any other person or entity.