ES/NQ are gapping up into 1st res levels ( refer to posted charts). The trading world is keying off of the IWM this morning. After getting back above the 200 with a high of 157.5 and the breaking below yesterday testing the 8 day with a low of 154.91 and further downside support is 154.11. Continued weakness could affect the whole market so I will be watching it closely. The XLF held 26.29 and with hearings today and earnings coming up – that price action will be a tell. FANG had its bounce.. AAPL topped out at 202.85 and is below yesterdays low pre- open of 199.23. Below there is good support around 195.30.
TELLS
IWM – mentioned up top
XLF – levels are 26.29 yl and 26.7 pivot high. 26.19 area is support and 27.10 is year high.
CL and XLE – Crude came into res ( refer to chart posted) but held up well. This morning the 10.30 number might be a mover. prior high 64.79 and support around 63.07. The XLE came off from its breakout with alow of 66.87. Pivot high is 68.25.
SMH- semis saw some selling. 110.56 needs to hold. There is an open gap below at 109.3.
XLK had in inside day. See if it makes a move today.
IBB – got sold. See if 1121.31 holds.
IYT – support 190.86
Stay flexible… still uptrend.. take profits
BalsamTrades 