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Sunday Update Week of May 6th – All Time Highs In Play with Biotech Lagging

In this weekend’s weekend analysis using the TrendSpider charting platform, we take a look at the broad market ETF’s ripping to new highs while the biotech ETF continues to lag behind. Is the bearish weekly MACD on biotech a sign of things to come or is the market ready for higher levels as the China trade deal outcome possibly approaches.

Weekend Video Analysis


SPY: Daily vs. Weekly Chart


QQQ: Daily vs. Weekly Chart


XBI: Daily vs. Weekly Chart


Related Blog Posts

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XXII: Before vs. After

This weekend’s “before” and “after” shows XXII in a symmetrical wedge setup with price nearing the resistance above into midweek. An alert was created in case price action continued to move up and test this area. The chart shows the alert that was sent through a text message. To learn more about this feature, click here!

Before

After

Mobile Alert Sent

 


Timestamps Captured 

TEUM

AMZN

 


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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.