Index Weekly Review 3/21/2022
Week Previous
The thought that seeing three white soldiers means you missed most of the move held last week. SPY and QQQ made smaller gains while IWM failed to hold on to any. SPY and QQQ cleared their EMA's while IWM still flirts with EMA's.
Week Ahead
I expect the bullish trend to continue this week. SPY and QQQ seem ready to grind higher, but IWM is again becoming a laggard. In the past, SPY and QQQ were able to go higher while IWM remained in a channel. But this also signaled that the bullish moves could not be sustained. If IWM fails again to make bullish progress this week, it is likely a good sign that the bullish moves in SPY and QQQ cannot be sustained.
The thought that seeing three white soldiers means you missed most of the move held last week. SPY and QQQ made smaller gains while IWM failed to hold on to any. SPY and QQQ cleared their EMA's while IWM still flirts with EMA's.
Week Ahead
I expect the bullish trend to continue this week. SPY and QQQ seem ready to grind higher, but IWM is again becoming a laggard. In the past, SPY and QQQ were able to go higher while IWM remained in a channel. But this also signaled that the bullish moves could not be sustained. If IWM fails again to make bullish progress this week, it is likely a good sign that the bullish moves in SPY and QQQ cannot be sustained.
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