Trading platform

Menu
  • About Us
  • Contact Us
  • DCMA
  • insurance
  • insurance 2023
  • Privacy Policy
  • Sample Page
  • Terms and Conditions
Menu
 
 

Market update July 5th: A week of backtesting

Posted on July 1, 2022 by admin

After the strength seen across the indicators last week, it was reasonable to expect some pullback this week to see if last week’s lows hold. However, the week ended with only proper 4th of July fireworks weekend! A possible “higher bottom” was found on Thursday, but we will have to watch next week to see if this technical pullback can serve its purpose and allow the markets to move higher in the coming weeks. Let’s dig into the individual names!


Weekly Analysis

this week , dollar spy ETF closed in $381.2 (-2.28%), Giving up some of last week’s gains but hitting new weekly highs vs. last week as well. The monthly candle for June closed below aVWAP from Covid lows, a warning shot for bulls who want to see that recover sooner rather than later.

this week , QQQ dollars ETF closed in $282.11 (-4.38%), And like the spy dollar, it gave back some of what it earned last week. This week’s outer bar indicates that the range is expanding, but the price is holding the 200-week moving average at the moment. The resistance above can be found at the June 27 high, around $296.

this week , $ IWM ETF closed in $171.49 (or equivalent in local currency) (-2.06%), Setting higher highs and higher lows against last week’s candle. The next resistance level above is this week’s high, around $177.


Top Twitter Posts This Week

  • 5th
  • backtesting
  • July
  • market
  • Update
  • week
  • Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Recent Posts

    • How long do I need to day trade (and work) each day?
    • The Crazy Benefits of Fundamental Analysis (Even for a Day Trader)
    • AI Stocks: How to Trade and Best List 2023
    • 10 Advantages Of the Curvy Body – It Has Become Fashionable
    • Triggers and how to deal with them

    Recent Comments

    No comments to show.

    Archives

    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022

    Categories

    • Forex Trading
    • Uncategorized
    ©2023 Trading platform | Design: Newspaperly WordPress Theme