In this weekend’s blog post, we take a look at the broad market ETF’s into Monday. The weekly candles held the SMA (20) on both SPY and QQQ but XBI closed through this area and could be telling for what’s coming next week.
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.
TrendSpider is a platform that allows all different types of traders to implement their own strategies with the different proprietary features that we have to offer. One of the coolest and newest features available in the platform is called “Trend Analysis Preferences” which allows users to change their trendline settings through a simple drop-down menu. This gives users more flexibility to see different chart views based on if they like the system more sensitive (fewer trendlines) or less sensitive (more trendlines). To learn more about this feature, check out our video and below and follow the step by step guide.