2/10/2019 Stocks mostly flat. I’m still bearish for now.

Greetings, let’s look at some weekly charts. 

Here’s the weekly chart of SPY.  We still have some more upside to go before we reach strong overhead resistance in the 280-290 zone. Because of that, I think we could still go up another 10 points before starting our next leg lower. I don’t think we will reach new highs this year. 

Here’s the weekly chart of QQQ. We’ve already reached the first resistance level near 175, so I suspect QQQ will drop before SPY drops (or drop more than SPY). Like SPY, I don’t think QQQ will reach new highs this year. 

Good luck trading, see you next week!