04/20/2019 | by Brad Ritter

Market Update Into 4/22: Negative Divergence Continues

BlogPrepare for the Trading WeekMarket Update Into 4/22: Negative Divergence Continues

In this weekend’s blog post, we take a look at the broad markets into next week as $SPY continues to look toppy near “all-time highs” as the more speculative ETF play, $XBI, continues to break down. See what the charts are looking like into next week as well as an example of how our multi-factor alert triggered last week. Easily set your own criteria and have the system watch it for you with the TrendSpider platform! Ready to backtest your strategy next week? Take a look at our brand new “Strategy Tester”!

Weekend Video Analysis

TrendSpider Weekend Analysis: SPY and QQQ Divergence Continues

$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.

$TEUM: Before vs. After

This weekend’s “before” and “after” shows $TEUM bouncing hard off a trendline found by the system. This trendline had a sensitivity alert on it and the price actually did not get all the way down to the line. However, the price action did get in the purple area which is where the system will fire an alert to the user.