12/16/2018 |

Sunday Update Week of December 17th – Broad Market Analysis

A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action.  In this weekend’s analysis, we follow up from the Sunday Analysis last week and look at how the broad market ETFs did. Overall, long-term support that was analyzed last weekend remains in-tact but is holding onto a thread. See what we mean and check out the video analysis for the week ahead!

A Quick Note on Futures Data:

Futures data will no longer be supported by the TrendSpider system starting January 1st, 2019. We will explore bringing futures back once we have been able to implement this into the platform fully. If you have any questions at all, please reach out to the TrendSpider team at hello@trendspider.com. 

SPY: Daily vs. Weekly

Video Analysis:


QQQ: Daily vs. Weekly

Video Analysis:


XBI: Daily vs. Weekly

Video Analysis:


Related Blog Posts

  1. Alerts – Add alerts to your trendlines and indicators with sensitivity.
  2. Multi-time frame analysis (MTFA) – Overlay your chart a secondary timeframe with on trendlines, indicators, and Fibonacci levels.
  3. Trendline Preferences – Customize your trendlines to automate a consistent trendline drawing strategy.

NLST: Before vs. After

This weekend’s “Before and After” shows NLST trading within a very defined wedge and moving between support and resistance perfectly. In this case, the price moved up sharply to the wedge resistance above and closed as a “Shooting Star” formation which was caught by the TrendSpider “Candlestick Pattern Recognition” feature. Once this bearish candlestick closed, a hard drop in price followed down to the wedge support, forming a bullish hammer candlestick which was also caught in “Pattern Recognition” mode.

Before

After

Trendline Preferences Used


Timestamps Captured This Week

CHK

CLF

FB


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REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis provided for educational reasons only. TRENDSPIDER IS A CHART ANALYSIS PLATFORM. IT IS NOT INTENDED TO BE TRADING OR INVESTING ADVICE. ALWAYS DO YOUR OWN DUE DILIGENCE USING MULTIPLE SOURCES OF INFORMATION AND/OR SEEK THE ADVICE OF A LICENSED PROFESSIONAL BEFORE TRADING OR INVESTING. Please read our full risk disclaimer on our website by clicking here.