Market Update Into 9/9: What Red Monthly Candle?
In this weekend’s analysis, we take a look at the broad market ETFs $SPY, $QQQ, and Bitcoin. In this update, we view how the daily Raindrops(TM) and weekly hollow candles played out for the week while utilizing unique features from TrendSpider to do this. Make sure to set your alerts on the moving averages, trendlines, and Fibonacci levels you are watching into next week!
Make sure to tune into next weekend’s webinar with Brian Shannon, founder of Alphatrends.net and author of “Technical Analysis Using Multiple Timeframes“. In this webinar, we will focus on using Brian’s “Anchored VWAP” on the platform as well as how you can use anchored VWAP when looking at blue raindrops.
Miss the show? Watch now on YouTube.
Weekend Video: $SPY, $QQQ, $BTC
$SPY: Daily vs. Weekly Chart
$QQQ: Daily vs. Weekly Chart
$BTCUSD: Daily vs. Weekly Chart
Bitcoin Before and After: The Power of The Raindrop(TM)
In this weekend’s “Before and After”, we take a look at the Bitcoin chart from late August as it broke down through crucial levels of the symmetrical triangle support. You can see how the Raindrop(TM) showed heavy selling volume below the Trendline which then led to continuation down the next day. However, this volume was likely stop-losses triggering which ended up being a total fakeout as seen in the chart above. Learn more about raindrops here.