12/22/2018 | by Brad Ritter

Market Update Into 12/24: Happy Holidays!

BlogPrepare for the Trading WeekMarket Update Into 12/24: Happy Holidays!

A prepared trader is 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 take a look at the broad markets after the long-term “thread” we talked about last weekend, broke with a vengeance. Click here to take a look at the chart analysis from last week and see how we did!

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

$SPY daily and weekly charts.

Video Analysis:

$QQQ: Daily vs. Weekly

$QQQ daily and weekly charts.

Video Analysis:

$XBI: Daily vs. Weekly

$XBI daily and weekly charts.

Video Analysis:

$QQQ: Before vs. After

This weekend’s “Before and After” shows $QQQ breaking down through the symmetrical wedge with a bounce right at the support level below before continuing to break down into the end of the week. Click here to learn all about setting alerts for any trendline or upper indicator you chose!

Before

"Before" chart showing $QQQ breaking down through the symmetrical wedge with a bounce right at the support level below before continuing to break down into the end of the week.

After

"After" chart showing $QQQ breaking down through the symmetrical wedge with a bounce right at the support level below before continuing to break down into the end of the week.