By Licia Leslie
May 11th, 2025
Hi Shoppers,
Friday was the quietest day in the market we’ve had in a while.
Actually the whole week had the tightest range since the last week of December 2024.
Of course we have the China tariff talks this weekend which could give the market the boost it needs to get over the resistance we are sitting at right now.
Or the indices could honor that resistance this week and roll over here.
Let me show you the resistance levels on the weekly charts.
The S&P 500 Emini Futures (Ticker: ES1!) need a close over $5731 to continue this rally:
Last week’s candle could become a doji signaling a change in this uptrend or it could be just taking a breather gearing up for the next leg higher.
Similar idea on the Invesco QQQ Trust (Ticker: QQQ):
We need a close over $490 to keep the rally going and last week’s candle also could become a doji.
The iShares Russell 2000 ETF (Ticker: IWM) is up against the median line (red line) and needs to close above $202 to trade higher:
Lastly the SPDR Dow Jones Industrial Average ETF (Ticker: DIA) have traded to the top of the pitchfork, which is resistance, and is also sporting a possible change in trend doji candle:
Remember we always wait for confirmation. That is for the price to reveal itself before we hop in.
Be sure to hop into Andrew Giovinazzi’s Private Meeting May 14th at 8:00 PM ET.
You will receive his special report The Fear Gauge just for signing up.
You don’t want to miss this.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
