Friday closed in a mixed fashion; as has been common over the last few months. The Dow and S&P lost ground while tech bounced back to the surprise of many. The decline in the broader indexes was said to be brought on by the Fed ending a pandemic exemption which allowed them to carry loss-absorbing assets on their books; hitting the banking sector the hardest. The increase in financial sector capital requirements was booed by investors. While a spike in treasury yields injected some life into the NASDAQ; with some wondering if there isn’t more to it than this.
The SPY closed the session at $389.13 (-0.09%); yet the afternoon session showed buying at higher levels and ended at a level of support. The QQQ closed at $312.82 (-0.10%) retesting the swing low that lead to the run up to all time highs. With sentiment swaying back and forth, are investors losing their appetite for risk?
In this blog post, make sure to check out the top 5 TrendSpider charts posted this week on social media; as well as the broad market charts into next week! Don’t forget Season 3, Episode 11 of the “Stock Trading Pit” on this Sunday at 6 PM (EST) with special guests, Peter Hegedus and Brian Shannon.
Check out the “Stock Trading Pit” Season 3, Episode 11 with Peter Hegedus and Brian Shannon on Sunday at 6 PM (EST)!
Top 5 TrendSpider Posts This Week
Related Blog Posts
Check out our supplemental blog posts below:
- Alerts – Add alerts to your trendlines and indicators with sensitivity.
- Raindrops – Visualize volume and price action in a completely new way by visualizing volume flow throughout a specific time period.
- Conditional Criteria Alerts – Create complex conditions to be met between a mix of lower indicators and price action.
- Multi-time frame analysis (MTFA) – Overlay your chart a secondary timeframe with on trendlines, indicators, and Fibonacci levels.
- Trendline Preferences – Customize your trendlines to automate a consistent trendline drawing strategy.
- Add Watchlist – Create your own watchlist and quickly move through charts with automatic analysis on each!
- Automatic Candlestick Recognition – Automatically input your favorite candlestick patterns into the system and have TrendSpider find all the ones on your current chart!