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09/10/2021 |

Market Update Into 9/13: Flush Fridays

Early week selling intensified Friday sending both $SPY and $QQQ to close the week in the red, a rare sight this year, despite jobless claims hitting COVID-era low.

Weekend Update

TrendSpider Weekend Update Into September 13th

Weekly Analysis

The $SPY, in particular, closed at $445.51 (-1.59%), selling off hard towards the end of the day Friday. A possible support area below around $440 is identified by an Anchored VWAP pegged to the previous swing low from July 17th.

$SPY daily and weekly charts.

The $QQQ ended a choppy week with a flush Friday closing at $376.52 (-1.35%). All of last week’s breakout was erased in a day! Will we find support at the 1.610 ($376 area)? Next week will be telling for the tech sector.

$QQQ daily and weekly charts.

Top Twitter Posts This Week

$RBLX chart by @PatternProfits on Twitter.

$BTC chart by @AltcoinPsycho on Twitter.

$PLTR chart by @mattdelao on Twitter.