04/13/2019 | by Jake Wujastyk

Market Update Into 4/15: All-Time Highs Within Reach for $SPY and $QQQ

BlogPrepare for the Trading WeekMarket Update Into 4/15: All-Time Highs Within Reach for $SPY and $QQQ

In this weekend’s blog post, we take a look at the broad market ETFs pushing higher as some of the lower indicators and more speculative ETFs show “risk off” mode may be kicking back in. However, the trendlines above on $SPY and $QQQ suggest a continued grind higher may continue as bears try to call the top.

Weekend Video Analysis

TrendSpider weekend Update: All Time Highs Within Reach

$SPY: Daily vs. Weekly Chart

$SPY daily and weekly charts.

$QQQ: Daily vs. Weekly Chart

$QQQ daily and weekly charts.

$XBI: Daily vs. Weekly Chart

$XBI daily and weekly charts.

$CLF: Before vs. After

This weekend’s “before” and “after” shows $CLF starting to break down after a large selling candle on the daily. In order to keep track of price action without having to stare at the chart all day, a medium sensitivity alert was created on the SMA (20) below and then was triggered the next day after price action continued to fall.