02/09/2019 | by Jake Wujastyk

Market Update Into 2/11: Battling the 50-Week SMA

BlogPrepare for the Trading WeekMarket Update Into 2/11: Battling the 50-Week SMA

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 pullback that has started across the board with $XBI once again starting to show signs of a move down before $SPY and $QQQ. Get the full analysis through the video below and reach out with any questions about the TrendSpider charting platform!

Weekend Update

$SPY: Daily & Weekly Charts

$SPY daily and weekly charts.

$QQQ: Daily & Weekly Charts

$QQQ daily and weekly charts.

$XBI: Daily & Weekly Charts

$XBI daily and weekly charts.

$CRON: Before vs. After

This weekend’s “Before and After” shows the daily price action on $CRON breaking out through the channel resistance and then moving up quickly to test the next channel trendline above. Once this area was tested, $CRON sold off hard towards the channel support below before reversing once again to the upside.

Before and after charts showing the daily price action on $CRON breaking out through the channel resistance and then moving up quickly to test the next channel trendline above.