$SPX,$NDX, $IWM: Key levels to watch
"Being too bearish may be risky"
Posted yesterday for subscribers, the relevance of $17.770 for $NASDAQ 100(NDX)$ ; equivalent to $431 for $QQQ and the potential bullish crossover in formation. Today, price bounced from those support lines and it's currently parked at the 10 and 20 DMA.
Same for $iShares Russell 2000 ETF(IWM)$ , the relevance of $200 was posted, also the oscillator. Today, price bounced again from there, and 20DMA will dictate if there is continuation or rejection.
Interestingly, $S&P 500(.SPX)$ is nearing for 6th time the $5190 zone, this is something to watch considering also the bullish crossover in oscillator. (The more a S/R line is tested, the likelihood for it to be crossed is higher)
As of 1:50 PM the support levels worked well for $NASDAQ 100(NDX)$ and SmallCaps; and once again, all eyes are on $5190 for $S&P 500(.SPX)$ , equivalent to $515 for $SPDR S&P 500 ETF Trust(SPY)$ .
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