By Licia Leslie
November 10, 2024
Hi Shoppers,
We just had a very nice rally in the three major indices.
Here are my next support and resistance levels for each.
The S&P 500 Index (Ticker: SPX):
SPX has traded right up to the top of my pitchfork on Friday before backing off just slightly.
This may hold but the chart is looking very bullish.
Once it closes over $6019, the next resistance level is up at $6079.
Support sits at $5947 and below there at $5908.
The Invesco QQQ Trust (Ticker: QQQ):
Also a very bullish chart making new highs on Thursday.
The next level of resistance is at $521.75.
Support sits at $509.41 and then $503.
The iShares Russell 2000 ETF (Ticker: IWM) is also sitting at the top of my pitchfork which will be resistance:
Again, a very bullish chart.
Resistance above here lies at $241.63 and support sits at $235.55 and major support at $233.42.
We have inflation numbers coming out, the Consumer Price Index, the Producer Price Index and a lot of Fed Heads speaking this week.
Let’s make some money!!
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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