It seems like we are no longer in thr slow grind tio new highs on a daily basis. Things are getting interesting and there hopefully will be more trade setups intrday. I am looking for the NQ and ES to test overnight lows and possibly go higher. I will be watching downside targets for possible trading buys as well. Its could be a good time to day trade and not hold positions as upper support seems broken.
IWM went above the 159.5 yearly high and has failed to hold. Support is around the 200 day around 155.6
CL is having an inside week 66.60 – 62.28 while the XLE is getting hit 63.30 area is downside support.
IYT – the transports after a big move to 200.40 area has now dropped to 191.63 with the 200 at 189.5 area.
XLF – still holding ok. upper support is 27.73 with the 8 day at around 27.63 area.
SMH – this could be a problem after bouncing to 117.88 it dropped hard 114.6 is the 8 day with the pivot low of 113.49
XLK – made a new high but couldn’t hold it as market took it down 77.73 is downside support
XLV – holding up so far. Lets see if 88.06 holds and 90.4 area is 200 on daily above.
IBB – inside day but looks terrible 102.82 is key support.
take one set up to the next and book green