TrendSpider Thursday Update: Negative Divergence Starts to Materialize

In this Thursday analysis, we take a look at the broad market ETF’s as they seem to be exhausted at these levels. As usual, biotech has taken the lead with a big move down into Friday’s trading as the bearish candles just started to form on SPY and QQQ.

Video Analysis


SPY: Daily Chart


QQQ: Daily Chart


XBI: Daily Chart


Enjoyed this blog? Make sure to click on the links below to follow us on social media for intra-week chart updates:

StockTwits
Facebook
Twitter
LinkedIn

REMEMBER: These are charts that have interesting technical setups based on automated technical indicator analysis included. Charts and analysis 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.