Weekly Stock Charts
Identifying index & ETF trends in weekly stockcharts
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- Last Update: 23 September 2020, 9:05
Sept 13th 8:12A: Writing this now so I don%27t get tied up on Monday AM. So last week we had HUGE number of outside wks (~900), and now we have a ton of inside wks (~480) which makes sense b/c of the HUGE number of outside wks. Some of those outside wks broke down (like $SPY), a few broke up (not many), but the majority stayed inside. 4d weeks tend to be choppy - remember that (that little tidbit has saved me a boat load of money & heart ache). Next wk is a full week & trading volume should return. I%27ll be watching those inside wks to see if a bunch of those 480 inside wks can break up (or not). One quick look at the daily chart above and you can see when/where the momentum changed + we%27re sitting right around 50d MA now. For next wk, I want to see if these levels hold or we slice right thru....and that should correspond to the ~480 inside wks. I hope that all made sense. OK, good luck out there, use stops, manage risk, + trade well.
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