Hi Shoppers,

So let’s take a look at these indices and where we are on the charts.

First up is the S&P 500 (Ticker: SPX):

On Friday the SPX flew through that cup rim resistance level at $4080.

If we take the difference between the bottom of the cup and the rim, that is 283 points.

Add that to the rim price and we get 4080 + 283 = 4313.

Going back to August 16th, the previous high close is $4305 with $4325 as that intraday high.

Looks to me like the next resistance area is that uptrend line at $4157 and then on to the previous high at $4195.

The old resistance level at $4080 becomes the newest support level.

Next up the Invesco QQQ Trust (Ticker: QQQ):

QQQ is way beyond the cup rim and if you take the difference between the cup base and the rim, that is $35 and add that to the rim price takes QQQ up to $331 which is where my next resistance level comes in.

The previous high close on August 15th is $333.

Support comes in at $313.

And finally the Ishares Russell 2000 Index:

IWM was a victim of the Regional Bank Failures/Bailouts/Crisis.

It does have a bullish piercing candle created on March 24th that it has rallied off of.

My next level of resistance is at the 200 day moving average $180.80 and then the 50 day at $815.

Support is $177.25.

Trade accordingly.

Thanks for Reading … See You Next Tuesday,

Licia Leslie