ES is making new highs for the year and the NQ is right near. We are in areas of res and targets so there might be a counter trend set up.
TELLS
IWM – is still below the year high 159.5 as well as 200 day. The levels to watch 1s 156.53 and then 157.2 area.
CL AND XLE- crude is coming of year high of 62.99. 61 area is support. The XLE still below the breakout are of 67.42. I needs to get above small res at 67.22 first. Needs to hold 65.61.
XLF – is gapping neat yesterday high just above the 200. The year high is 27.10. This ETF has a a big move down and big move back in just a couple of weeks. Can GS get above pivot 206.45, JPM 106.36 and then 108.45 area.
SMH- been a monster. Needs to hold GAP above 110.56. NEXT PIVOT ABOVE 112.5 IS 114.55.
XLK – also a monster 76.25 is the high and needs to hold 75.11.
IBB – trying to get legs above 113.94. Needs to hold 111.98. 1115-116.25 is the prior highs.
IYT – hanging in strong after big move from 179.55 to 193 area.
Happy Friday1 END THE WEEK GREEN1
BalsamTrades 