Where the Resistance is on the Charts: $SPY $QQQ $XBI

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Where the Resistance is on the Charts: $SPY $QQQ $XBI

This is a Guest Post by Jake @TrendSpider. 

In this weekend’s analysis, we take a look at the broad market ETF daily Raindrop Charts (TM) and weekly hollow candles into the first week of July. To learn more about Raindrop charts and the platform in general, make sure to check out all of our User Guides.

Weekend Video Analysis: Broad Market ETFs

 

SPY: Daily vs. Weekly Chart

Where the Resistance is on the Charts: $SPY $QQQ $XBI

QQQ: Daily vs. Weekly Chart

Where the Resistance is on the Charts: $SPY $QQQ $XBI

XBI: Daily vs. Weekly Chart

Where the Resistance is on the Charts: $SPY $QQQ $XBI

QQQ: The Power of the Blue Raindrop

In this weekends “Before and After”, we take a look at QQQ breaking down after a blue Raindrop formed on the daily last Friday. Make sure to check out how to read a raindrop here and why this particular color is extra important!

Before

Where the Resistance is on the Charts: $SPY $QQQ $XBI

After

Where the Resistance is on the Charts: $SPY $QQQ $XBI

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  3. Multi-time frame analysis (MTFA) – Overlay your chart a secondary timeframe with on trendlines, indicators, and Fibonacci levels.
  4. Trendline Preferences – Customize your trendlines to automate a consistent trendline drawing strategy.
  5. Add Watchlist – Create your own watchlist and quickly move through charts with automatic analysis on each!
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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.

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