Market Update Into 5/6: All-Time Highs in Play With Biotech Lagging
In this weekend’s weekend analysis using the TrendSpider charting platform, we take a look at the broad market ETFs ripping to new highs while the biotech ETF continues to lag behind. Is the bearish weekly MACD on biotech a sign of things to come or is the market ready for higher levels as the China trade deal outcome possibly approaches.
$SPY: Daily vs. Weekly Chart
$QQQ: Daily vs. Weekly Chart
$XBI: Daily vs. Weekly Chart
$XXII: Before vs. After
This weekend’s “before” and “after” shows $XXII in a symmetrical wedge setup with price nearing the resistance above into midweek. An alert was created in case price action continued to move up and test this area. The chart shows the alert that was sent through a text message. To learn more about this feature, click here!
Mobile Alert Sent