06/14/2019 | by Brad Ritter

Market Update Into 6/17: The Broad Markets Are Stuck

BlogPrepare for the Trading WeekMarket Update Into 6/17: The Broad Markets Are Stuck

In this weekend’s analysis, we take a look at the broad market ETFs and how the “Raindrops” are looking into next week. Learn more about Raindrop charts and the platform in general, make sure to sign up for our webinar this Sunday evening at 6 PM EST! Click here to sign up!

Weekend Analysis

$SPY: Daily vs. Weekly Chart

$SPY daily and weekly charts.

$QQQ: Daily vs. Weekly Chart

$QQQ daily and weekly charts.

$XBI: Daily vs. Weekly Chart

$XBI daily and weekly charts.

$XLF: The Power of the Blue Raindrop

In this weekend’s before and after, we take a look at a very cool “Before, Middle, and After”. In this image, you can see a blue raindrop form on the falling wedge support with a strong breakout afterward. Once the move has been made, a blue Raindrop (TM) then forms right at the 23.6% Fib level which triggers the sensitivity alert that was on this area. A pullback then takes place to the 38.2% level below.