Taking the analysis further
If you want to go deeper than the weekly charts — including how the levels translate into actual trade planning and risk management — you can follow the work Brian Shannon and I do at Alphatrends.
That’s where we walk through the same market structure in real time and apply the process to actual trade setups.
🔹 Weekly Chart Notes
Market continues to follow a short-term downtrend (lower highs / lower lows)
No evidence yet of a confirmed reversal
Recent weakness reflects cracks that have been developing for several weeks
🔹 Key Themes
Failed rallies are becoming more common
Breadth continues to weaken
Former areas of leadership are breaking down
Defensive positioning is increasing
🔹 Levels & Structure
Price testing key reference areas (anchored VWAPs, prior highs/lows)
Major moving averages not acting as support
Markets reacting to levels—but not consistently holding them
🔹 Intermarket Observations
Equities under pressure across the board
Bonds not providing safety
Commodities (especially energy) remain strong
Dollar consolidating at elevated levels
🔹 Breadth & Participation
% of stocks above 50-day moving average nearing washout levels
% above 200-day continues to decline
No confirmed improvement in participation yet
🔹 What To Watch
Signs of stabilization vs. continued downside
Development of higher highs / higher lows on shorter timeframes
Whether key reference levels are defended or broken
🔹 Bottom Line
Environment remains cautious and defensive
Message unchanged: go slow, be patient, do less
Let price action confirm any shift before adjusting positioning
References & Chart Resources
Chart School
https://www.trading-adventures.com/t/chart-school
The Bullish Percent Index – A Technician’s Perspective
Relative Strength – What Is It Really?
Take the analysis further
If you want to go beyond the weekly charts — including how the levels translate into real trade planning and risk management — you can follow the work Brian Shannon and I do at Alphatrends.
That’s where we review the markets in real time and walk through how the same principles are applied to actual trade setups.
Important: This content is provided for educational purposes only. If you’re reading this online, please review the full disclosure here.
