SPY, QQQ, and XBI Charts into Tuesday

The broad markets continue to move higher and are now nearing crucial resistance areas at the 20-weekly SMA overlaid on the daily chart. Charts of SPY, QQQ, and XBI are shown below.

To read the full details of 1,2,3, and 4, check out our SeekingAlpha article here: https://seekingalpha.com/instablog/49782486-trendspider/5261436-20-week-sma-wall-market-needs-worry

 

What is there is no such thing as resistance levels

 

What significance is there in the greater picture of using XBI?
What does this influence regarding broad market sentiment?

 

It is an ETF that captures risk appetite as biotech is generally more speculative.

 

"There is no such thing as trend. It is an illusion" - Marketsurfer