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03/02/2019 |

Sunday Update Week of March 4th – SPY Shows It’s First Weekly Red Candle in 2019

A prepared trader is a 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 how the SPY, QQQ, and XBI ETFs are shaping up into next week. As the first weekly red volume bar of the year, is this a point of a reversal or just a quick consolidation zone before the next leg up?

Weekend Video Analysis

SPY: Daily vs. Weekly

QQQ: Daily vs. Weekly

XBI: Daily vs. Weekly

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SPY: Before vs. After

This weekend’s “Before and After” shows SPY breaking through the trendline that was created by the near double top back in late October and early November and then finding hard resistance at the weekly 78.6% Fibonacci level.





Timestamps Captured This Week






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