Posted on December 11, 2020 - 2:40pm
By Lawrence G. McMillan
All of the major averages have made new all-time highs this week: $SPX (SPY), $DJX (DIA), $NDX (QQQ), and yes, even $RUT(IWM). In fact, IWM is outperforming the rest at this time, for the first time in a long while.
$SPX has support at 3644 (the highs of Monday, November 9th when Pfizer announced that they had a vaccine), and that has been tested several times. A close below there would be a bit negative, but that is merely where the risi