01/26/2019 | by Jake Wujastyk

Market Update Into 1/28: The SMA (20) Wall Holds but Government Reopens

BlogPrepare for the Trading WeekMarket Update Into 1/28: The SMA (20) Wall Holds but Government Reopens

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 have one of our affiliates, Kevin Smith, join us and chat about some broad market charts and technical charts into the week ahead. Have a great weekend!

Weekend Update

$SPY: Daily Candle W/ Weekly Overlay

$SPY daily chart with weekly overlay.

$QQQ: Daily Candle W/ Weekly Overlay

$QQQ daily chart with weekly overlay.

$XBI: Daily Candle W/ Weekly Overlay

$XBI daily chart with weekly overlay.

$TWTR: Before vs. After

This weekend’s “Before and After” shows Twitter becoming oversold on the Williams % Range as the MACD histogram showed signs of a possible bullish cross coming. An alert was set on this previous area of support which was then (and still is) acting as resistance above. After a strong move up since the start of 2019, the trendline was tested and an alert was triggered.