A prepared trader is a generally 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. In this weekend’s analysis, we take a look at a brand new feature that was released earlier this week, Monthly candles. For SPY, QQQ, and XBI, we take a look to see how the weekly price action is interacting with the monthly indicators and trendlines.
Thursday’s are a great day to observe how the final day of the week may close out by looking at the daily and weekly candle setup into Friday. As the markets have started 2019 with everything but a “bang”, more downside looks to be possible based on the current setup that has returned big downside within the current price channels.