• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Stock Market Welcomes Us Home in a Big Way
Stock

Stock Market Welcomes Us Home in a Big Way

by November 15, 2023
by November 15, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The Economic Modern Family has opened its loving arms to the bulls and to us after our 2 weeks away.

Beginning with Granddad Russell 2000 (IWM), Monday began with a gap up over the 50-DMA (blue). We will watch for a phase change confirmation. Furthermore, the monthly chart shows IWM back above the 80-month MA (green). Resistance at 191 area is on tap if IWM holds above 174.

Granny Retail XRT gave us the clutch hold before we left by never breaking down under the 80-month moving average (green). Now, XRT has more to prove and needs to be watched carefully. You can see the resistance at the 200-DMA (green), but, more importantly, keep watching the monthly chart.

XRT has not cleared the 23 -month MA (blue) yet in 2023. Both IWM and XRT are right into resistance on the momentum or Real Motion charts.

Another bright spot potential is in the Leadership chart, with IWM now outperforming the SPY. This could be a game changer if it continues.

Semiconductors (SMH), along with growth stocks, lead. Interesting that SMH touched the July 6-month calendar range high (green horizontal line) today. The momentum indicator also hit resistance. The monthly calendar never broke down. Now, we’re watching for SMH to clear (or not) the 160-161 level with volume.

Transportation (IYT) is back to last month’s highs. IYT is actually underperforming in momentum, while it cleared past the SPY in leadership. Marginally surpassing the 23-month right now, IYT must hold over 230 now to stay in the game.

The inside sectors of the economy, as represented by IWM, XRT, and IYT, still have a lot to prove, despite being impressive on this run. Semiconductors of course, are way stronger, but are also going into some headwinds.

These monthly charts have been extremely reliable in helping us gauge the major support and resistance. Seasonally, the market could remain strong. Nonetheless, this has been a year of #squarepegroundhole.

This is for educational purposes only. Trading comes with risk.

MarketGauge has rocked it this year. Our blends, models, strategies, tools and education is like no other. If you find it difficult to execute the MarketGauge strategies or would like to explore how we can do it for you, please email Ben Scheibe at Benny@MGAMLLC.com, our Head of Institutional Sales. Cell: 612-518-2482.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

Traders World Fintech Awards

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth.

Grow your wealth today and plant your money tree!

“I grew my money tree and so can you!” – Mish Schneider

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish talks about Tencent Music Entertainment on Business First AM.

Mish talks bonds with Charles Payne in this clip from October 27, recorded live in-studio at Fox Business.

Live in-studio at Yahoo! Finance on October 26, Mish does a chart deep dive with Jared Blikre.

Mish talks 401(k)s at the NYSE in this October 26 video from Cheddar TV.

Mish covers the bond rally and how consumers could save the day in this October 24 video from Business First AM.

Coming Up:

November 14: X Spaces with Hedgeye

November 16: CNBC Asia

November 17: BNN Bloomberg

November 20: Yahoo! Finance

November 28: Your Daily Five, StockCharts TV

November 30: Live Coaching

December 3-December 13: Money Show Webinar-at-Sea

Weekly: Business First AM, CMC Markets

ETF Summary

S&P 500 (SPY): 450 clears see 465. Under 450, 435 support.Russell 2000 (IWM): 181 resistance, 174 support.Dow (DIA): 360 resistance, 346 support.Nasdaq (QQQ): 388 must clear and 370 must hold.Regional banks (KRE): 45 big resistance.Semiconductors (SMH): 160-161 now pivotal support.Transportation (IYT): 230 key support.Biotechnology (IBB): 120 pivotal.Retail (XRT): 63 resistance and 60 pivotal support.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • Investors Await CPI and Bank Earnings: Will They Spark Investor Optimism?
  • Cruise Or Soar? Carnival, Delta, and United Hit New Highs—Which One’s Your Best Bet?
  • RRG found Three Strong Stocks in the materials sector
  • Looking for Strong Stocks to Buy? Start with These Three Tools
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Turkey cozies up to Iran after praising Hamas ‘mujahideen,’ seeks reconciliation on key issues
next post
Home Depot says the worst of inflation is over — that could be good news for retailers and shoppers

You may also like

Do You Need Direction for 2025? Here Are 3 Charts...

January 2, 2025

Earnings From These 3 Stocks Could Be Key

April 11, 2025

Market Research and Analysis – Part 3: Market Trend Analysis

March 28, 2024

SNAP’s Stock Price Snaps Out Above Bollinger Band — Could...

December 1, 2023

BEER Stocks: Own What You Know

May 11, 2023

Plenty of Setups Emerge as Bulls Regain Control

September 2, 2023

Navigating the Stock Market: S&P 500’s Sensational Rally Keeps On...

February 22, 2024

Managing Fear and Expectations

March 23, 2023

Fresh Look at Long Bonds

September 14, 2023

DP Trading Room: Mega-caps are Showing Bearish Bias

August 14, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Building and BUILDING! The Power of...

    August 10, 2023

    Beware of Shorts in EXTREME Cycle...

    September 30, 2023

    Bullish Rotation Fully Supports Further Gains...

    December 3, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here