Weekly Chart Analysis & Trade Ideas – 13.06.2017

 

 

As we see in charts of $QQQ and $SPY we have broken all time high with $DIA as leader last week. But on Friday (june 9) when markets had a significant move down we have seen that $DIA had a green day, from this reason we can say that now, $DIA, is the strongest segment in the market. Maybe we see a rotation of capital out from NASDAQ (growth companies) to $DIA if $QQQ will continue to underperform $SPY and $DIA.

$SPY : 

The prior pivots for this week are $245.01 and $242 . As long as SPY holds $242 stay bullish and watch for follow through to clear all time high.

spyD1

$QQQ : 

The prior pivots for this week are $143.90 and $137.48 . If bears want to continue they need to step in somewhere around $142 or $140.85 making a new downmove to $136. If they fail we may see new all time hi.

qqqD1

$DIA : 

The prior pivot for this week is $211.25 . As long as DIA holds $211.25 stay bullish and watch for follow through, but be patient if move will be too fast because we can enter overbouth zone somewhere around $214-$215.

diaD1

 

 

 

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Market Update 18.05.2017

S&P500 :

SPYD1

The prior pivots for trading are 2405.77 and 2321.25 on SPX (240.67, 231.50 for SPY ) which are also the highs and lows on weekly chart of the last 3 months on SPX. Don’t get too bearish until SPX broke and hold below 2322.25 .

NASDAQ :

QQQD1        XLKD1

The prior pivots for trading this week are $139.64 and $133.82 on QQQ ($56.13 – $53.63 for XLK) .Bulls should step in at $133.82, if this didn’t happen we may see a move to $130.40 or $129.25 .

Financial : 

XLFD1

Next spot to watch is $22.90 , if bears broke and hold below we can go to $22.50 or we may see more significant downward action to $21.90.

Biotechnology :

IBBD1

As biotech fail to maintain gains and gain power for further upside action in March and May we may see a move down below $286. Don’t get too bearish until market will broke and hold above this level.

 

05/01 – 05/05 S&P 500

SPX         SPY

The prior pivots for trading this week are 2401 and 2369.19 on SPX (240.32, 236.50 for SPY ) which are also the highs and lows on weekly chart of the last week on SPX. Don’t get too bullish until SPX broke and hold above 2401 , also we are little overbought so be cautious if it goes too fast on the upside.. If bears build up power, broke and hold below  2369.19, watch for follow through to 2323 on SPX ( 232 for SPY), trading weak sectors/stocks.

04/03 – 04/07 S&P 500

SPX       SPY

The prior pivots for trading this week are 2390.01 and 2322.25 on SPX (239.44, 231.61 for SPY ) which are also the highs and lows on weekly chart of the last 3 weeks. As long as SPX hold below 2390.01, stay bearish and watch for follow through to clear 2322.25 and after to 2300, trading weak sectors/stocks. If bulls build up power and broke 2390.01, see if they hold above and watch for follow through to 2401 on SPX ( 240.32 for SPY), trading strong sectors/stocks.

03/27 – 03/31 S&P 500

SPX     SPY

As you see in the charts of SPX and SPY last week we broke this trend putting a Lower Low(LL) first time since 11/09 when Trump was elected as president of US. From now we are bearish until market will make a new HH.

The prior pivots for trading this week are 2382 and 2335.74 on SPX (237.50, 233 for SPY ) which are also the highs and lows on weekly chart of the last week. As long as SPX hold below 2382, stay bearish and watch for follow through to clear 2335.74 and after to 2300, trading weak sectors/stocks. If bulls build up power and broke 2382, see if they hold above and watch for follow through to 2401 on SPX ( 240.32 for SPY), trading strong sectors/stocks.

03/20 – 03/24 S&P 500

spx     SPY

As you see in the charts of SPX and SPY ( traded ETF for S&P 500 ) market have a clear move, with higher highs(HH) and higher lows(HL) from 11/09 when Trump was elected as president of US, also we have a accelerated trend line ( with purple on SPY chart).

The prior pivots for trading this week is 2400.98 and 2353 on SPX (240.32, 235.50 for SPY ) which are also the highs and lows on weekly chart of the last 3 weeks. As long as SPX hold 2353, stay bullish and watch for follow through to clear 2367 (239.44 for SPY) and after all time hi 2400.98, trading strong sectors/stocks. If bears build up power and broke 2353, see if they hold and watch for follow through to 2335 on SPX ( 233.40 for SPY), trading weak sectors/stocks.

03/13 – 03/17 S&P 500

SPX     SPY

As you see in the charts of SPX and SPY ( traded ETF for S&P 500 ) market have a clear move, with higher highs(HH) and higher lows(HL) from 11/09 when Trump was elected as president of US, also we have a accelerated trend line ( with purple on SPY chart).

The prior pivots for trading this week is 2354.54 and 2378.80 on SPX (235.74, 238.12  for SPY ) which are also the highs and lows on weekly chart of the last week. As long as SPX hold 2354.54, stay bullish and watch for follow through to clear 2378.80 and after all time hi 2400.98, trading strong sectors/stocks. If bears build up power and broke 2354.54, see if they hold and watch for follow through to 2335 on SPX ( 233.40 for SPY), trading weak sectors/stocks.