It was another frustrating week for those who choose to trade on “logic” of headlines and ignore the most important piece of this complicated puzzle– PRICE ACTION! Until prices break and hold below key levels of support and the moving averages begin to turn lower the action remains “innocent until proven guilty.” The video below takes a look at trends and key levels of support in $SPY $AAPL $XLF $SMH $IWM $QQQ

ETF Closing Numbers May 3 2013