ETF Mid Week Update


$SPY broke out of channel, will test 50ema support here, needs to hold or we will pull back more. I expect a bounce off the support


$USO pulling back to 11.07 support, I think it will hold and then push up and test the weekly 50ema level at 11.35 in the short term.

$GDX broke out of weekly dt and confirming currently. Looks like 200sma will be tested fairly soon to the upside.

$IBB looking bearish but sitting on support, we should pull back and test the up trend here until its able to break that small downtrend, I believe it will hold.

Author: spartantradinginc

Technical/PR Day and swing trader. Equities, Options, ETF's and Indexes. Focus on high R/R setups.

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