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 continued moves to the upside, with $SPY, $QQQ, and $XBI all closing at or near the longer-term 20-week simple moving average resistance. As the market has not been phased by the government shutdown, the weekly SMA (20) is the only “wall” the market needs to pay attention to.
$SPY: Daily Candle w/ Weekly Overlays
$QQQ: Daily Candle W/ Weekly Overlays
$XBI: Daily Candle w/ Weekly Overlays
$AMZN: Before vs. After
This weekend’s “Before and After” shows $AMZN bouncing hard off the lower Bollinger Band (R) on the daily candle with a very strong move up to test and breakthrough the EMA (50) and then continued up to test the channel resistance above before continuing the move up. To learn more about Bollinger Bands (R), check out our blog post here.
Timestamps Captured This Week