
3 Followers
No surprise with $IWM small caps leading again. Still staying tactical on $QQQ below 623 — getting close, but confirmation matters more than anticipation. Leadership remains with small caps while large-cap tech works through resistance.
/ES tagged the 6969 magnet and retraced — watching for a reclaim to establish a new point of reference. Both $SPY and $QQQ closed back above key moving averages, which keeps the broader structure constructive.
These are the institutional decision zones for ES — where you expect real reactions, not random chop. Major Resistance: 6940 6955 6970–6974 6987 7002 7014 7028 7050 7059 7065 7087 7097 7105 7119 7134 Major Support: 6940 6918 6904 6890–6887 6872–6874 6865 6845–6843 6822 6813 6805 6786 6773 6752 6727 6700–6704 6680 6664 6651 6630 6605 6598
$IWM continues to lead. Clear relative strength vs $SPY, $QQQ, and $DIA since the 11/21 reversal — momentum is accelerating, not stalling. We expect $QQQ to begin participating again, but remain tactical until 623 is reclaimed.