11/19/2021 |
Market Update Into 11/21: OpEx Week Is Over
With OPEX week (monthly options expiration) finally over, the markets are mixed going into the week ahead. Both SPY and QQQ both closed green with IWM having a rough week after being rejected at the resistance zone highlighted in last week’s blog. With the short holiday week next week, will the market continue to grind up?
Weekly Analysis
This week the $SPY ETF closed at $468.92 (+0.353%) as it continued to come in contact with the ascending wedge resistance trend zone above.
This week the $QQQ ETF closed at $403.94 (+2.341%) as the weekly candle closed above the 1.618 extension highlighted last week around $402.70.
This week the $IWM ETF closed at $238.71 (-2.835%) after getting rejected right at the diagonal resistance zone highlighted last week.
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