Now that I am back from vacation, I thought we would mix it up for you all and do the Daily as a video a couple of times per week, so that I can explain the charts in more detail and speak directly to all of you. We will continue with the usual format the other days of the week.
I hope you enjoy this video as much as I enjoyed making it.
For today, I appear on camera with the Granddad of the Economic Modern Family and as a bonus, also with his dog. I know we can all learn a lot from him, so make sure to stick around until the end of the video. I will switch to the charts and go through technical analysis on both IWM and FRO (Frontline) for you.
- IWM is technically perfect, using price, moving averages, momentum, mean reversion and leadership indicators.
- IWM is the key indicator to watch for the strength or weakness of rallies and selloffs.
- Frontline, Gramps’ dog, is a stock in the IWM basket, well outperforming and very interestingly set up.
To watch the video, please click here. And please, feel free to offer any comments or feedback.
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- S&P 500 (SPY): 415.88 now resistance with support at 410
- Russell 2000 (IWM): 192.50 the resistance with support at 190, then 188
- Dow (DIA): 331.74 resistance and support at 335.94
- Nasdaq (QQQ): 335.14 1st level of resistance and support at 329.66
- KRE (Regional Banks): 66.24 resistance, support level at 64.27
- SMH (Semiconductors): 229.51 resistance and support at 225.75
- IYT (Transportation): 241.66 resistance and support at 238.40
- IBB (Biotechnology): 125.33 resistance point and 126.40 support
- XRT (Retail): 69.22 resistance point and with support is at 66.34
Director of Trading Research and Education