Markets In Need of Pullback/ Consolidation

The $SPY remains above the rising 5DMA and is still in an uptrend but has gotten extended in the short term, a pullback down towards that 5DMA ~14850 would not come as a surprise in the next day or two.

$QQQ Weakness in shares of $AAPL have pulled the Nasda 1000 back into the range of the last 3 weeks. 66.25 is key support which we will want to hold.

The $IWM has been the leader and it appears it may be due for a pullback. The more important level we will want to see hold int he coming week is ~8780-8800

$XLF still shows a pattern of higher highs and higher lows but a pullback seems likely. Prior resistance ~1715 is where we would like to see initial support found.

click the charts to enlarge

SPY

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