Market Summary – April 17

ETF Summary

QQQ was alone among the major indexes to make a gain today. Evidently the continued weakness of XBI and XLV affects SPY and IWM more than QQQ.


IWM was the most damaged. Today’s candle turned white and engulfed the previous 4 candles. It dropped to the 18 day moving average before it made a little bounce. The last 11 days now makes a trading range. Tomorrow’s candle will turn blue if further weakness is displayed.


VTI took out the previous 3 candles and turned white. If VTI makes a normal 50% of it’s run from swing low 141.91) to swing high (149.22) it will go to 145.57. This would wipe out the previous 2 weekly candles. A 61.8% drop would put it at about 144.71 which is high of the green candle from March 29.


The overall market evaluation is neutral now instead of bullish.

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