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Sunday Update for Week of November 19th – SPY, QQQ, XBI Chart Updates

A prepared trader is a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action. This weekend, we take a look at how the charts look for SPY, QQQ, and XBI into the short holiday week! As we take a look at the Fibonacci levels on these charts, check out our recently published blog post about who Fibonacci was and how he came up with these levels! Click here to read the full story! 

SPY: Daily vs. Weekly

Video Analysis:


QQQ: Daily vs. Weekly

Video Analysis:


XBI: Daily vs. Weekly

Video Analysis:


Before and After: GS

This weekend, we take a look at Goldman Sachs daily chart which bounced hard off support and continued to move up towards the resistance trendlines above this October. The main reason this chart looked interesting was the fact that the daily RSI and %R were both crossing through the weekly (dotted line). The price action moved hard after this “before” chart with the two resistance lines above both being tested within about 15 trading days.

Before

After

Timestamp Captured from Mid-October:

 


Timestamps Captured This Week

XXII

FB

XBI

 


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REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis provided for educational reasons only. TRENDSPIDER IS A CHART ANALYSIS PLATFORM. IT IS NOT INTENDED TO BE TRADING OR INVESTING ADVICE. ALWAYS DO YOUR OWN DUE DILIGENCE USING MULTIPLE SOURCES OF INFORMATION AND/OR SEEK THE ADVICE OF A LICENSED PROFESSIONAL BEFORE TRADING OR INVESTING. Please read our full risk disclaimer on our website by clicking here.