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.  

 

Published by bigfry

Hi, I’m Nathan. I graduated from Boston University in May of 2020. I majored in Finance and minored in Piano Performance. I’ve always found the financial markets fascinating so I decided to start this blog to share my experiences. Outside of stock trading/investing, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game.

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