Key Levels for Top 3 Index ETFs

$iShares Russell 2000 ETF(IWM)$

In the daily chart, IWM reveals a story of volatility and bullish momentum. The price's consistent creation of higher highs and higher lows, coupled with its position above all Exponential Moving Averages (EMA), signals optimism. Key levels to monitor include 205, 202, and 197. A retreat into the consolidation range must see a close above 197 to affirm bullish control. The modest resistance at 205 awaits a breakthrough.

IWM Daily Chart

Zooming out to the weekly chart, conquering the 205 hurdle unveils the formidable resistance at 209. Clearing this level is pivotal for further upward exploration.

IWM Weekly Chart

$Invesco QQQ Trust-ETF(QQQ)$

In the daily chart, QQQ grapples with a tight range, testing resistance at 435 and finding support at 430. A cautious approach is warranted after a marginal Friday close above 430. Upcoming sessions might witness a descent towards 423 or the 20EMA.

QQQ Daily Chart

Weekly insights paint a more optimistic picture, showcasing an ongoing uptrend. A breach below 423, however, could usher in a more substantial retracement.

QQQ Weekly Chart

$SPDR S&P 500 ETF Trust(SPY)$

In the daily chart, I observe a hint of SPY edging towards the support at 494, following a failure to retest the all-time high (ATH). Key levels of significance include 501, 494, and 489. A resurgence above 501 sets the stage for an ATH retest, while a dip beyond 494 may find stronger support at 489.

SPY Daily Chart

On the weekly stage, SPY comfortably maintains its position within the preceding week's range. Only a breach below 489 could potentially trigger a descent towards 480.

SPY Weekly Chart

In conclusion, while the upcoming week hints at a possible downturn across these three index ETFs, a broader perspective unveils a continued upward trajectory in the stock market. Any retracement in the short term might be perceived as an opportunity, presenting potential avenues for cash-secured puts or long-term investment strategies.

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Disclaimer: The information provided is for educational and informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.

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