5/13/2018 Markets continue to look strong from a weekly perspective. It looks like we will retest the highs within the next month.

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SPY weekly 5_13_2018.PNG

SPY closed the week above the key resistance level of 272.   I’m expecting further upside next week, but I think sellers will get aggressive near the 280 price range.   

 

DIA analysis 5_13_2018.PNG

DIA is still struggling to have a solid close above the 248 resistance level.  If there isn’t bad news next week, I think we can retest the resistance zone near 252-254.  

 

QQQ weekly 5_13_2018.PNG

QQQ is still the strongest of all the indexes.  QQQ is running into strong overhead resistance in the 170-172 zone.  Looking at just the price action, I think the upward momentum can carry QQQ to 172 next week.  

 

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Published by bigfry

Hi, I’m Nathan. I majored in Finance and minored in Piano Performance at Boston University (graduated in 2020). Outside of trading/investing, I enjoy teaching and playing piano, teaching and playing Go, fishing, and watching anime. I also started my own Boba company while at BU, and am currently working on a company with my twin brother. I'm currently teaching Go full time, which has been the best job I could ever hope for.

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