Market Update Into 1/10: A Red Start to 2022

01/07/2022| By Brad Ritter

1 min read

After one week down into the New Year, the markets continued their volatility from November and December. Going into the week ahead, market participants will likely keep a close eye on interest rates through $TNX and other yields.

Weekend Update

Weekly Analysis

This week, the $SPY ETF closed at $466.09 (-1.86%) after a rough start to the year near the apex of the weekly symmetrical triangle.

$SPY daily and weekly charts.

This week the $QQQ ETF closed at $379.82 (-4.53%) near the medium-term support zone on the daily chart.

$QQQ daily and weekly charts.

This week the $IWM ETF closed at $216.08 (-2.86%) after getting rejected at the breakeven supply zone above on the weekly chart.

$IWM daily and weekly charts.

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