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.
This week’s Weekly Charts video reviews Friday’s sharp decline through the lens of process, not prediction. We look at the clues that were already developing beneath the surface: Bitcoin weakness, narrowing leadership, RSI divergence in QQQ, fewer long setups, and pressure in speculative leadership themes like URA, QTUM, AIQ, SOXX, and BLOK.
The lesson is simple:
—The goal is not to predict selloffs.
—The goal is to recognize when the evidence begins to change.
Summary:
Last week’s message was continued strength, but several clues were developing beneath the surface.
QQQ showed RSI divergence as price made new highs without momentum confirmation.
Bitcoin and crypto-related themes weakened before the major indices broke lower.
Speculative leadership groups like URA, QTUM, AIQ, $SOXX, and BLOK saw sharp reversals.
Breadth did not collapse, which keeps this in the category of a short-term shift rather than major trend damage.
The lesson: our job is not to predict. It is to evaluate evidence and adjust risk as the market’s message changes.
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.
