SPY Trends and Influencers November 14, 2026

  • Posted by on November 14th, 2026 at 9:03 am

Last week, the review of the macro market indicators saw, with the midterm elections and non-farm payrolls report in the books that equities suffered as a result of high volatility and forced liquidations from distressed funds. Elsewhere, looked for Gold ($GLD) to continue lower in a downtrend as Crude Oil ($USO) settled into a consolidation after the short term uptrend. The US Dollar Index ($DXY) continued to press against the top of the zone on the verge of an uptrend while US Treasuries ($TLT) peeked over a retest of the breakdown levels. The Shanghai Composite ($ASHR) continued the downtrend after confirming a long rounding top while Emerging Markets ($EEM) now shifted to a downtrend.

The Volatility Index ($VXX) looked to continue in elevated territory, keeping pressure on equities. The chart of the $SPY broke and was approaching its long term moving average on the short timeframe while the $IWM and $QQQ continued their short term moves lower under their long term moving averages. The SPY and QQQ continued to look stronger on the longer timeframe but had dropped below their consolidation ranges threatening a shift to downtrends while the IWM continued in a short term downtrend.

The week played out with Gold dropping back to retest the October low while Crude Oil found support in consolidation and rebounded higher. The US Dollar solidified the break to the upside settling at a 19 month high while Treasuries failed in the break attempt and fell back. The Shanghai Composite managed a short consolidation before falling back to the October low while Emerging Markets caught an early bid but could capitalize on it and dropped late in the week.

The Volatility Index fell back out of the 20’s but remains elevated in the normal zone. This allowed equities to recover early in the week but they were hit late in the week on Jensen and AI fears muting the gain. This resulted in the SPY, the QQQ and the IWM all up marginally on the week. What does this mean for the coming week? Let’s look at some charts.

SPY Daily, $SPY

The SPY came into the week 1 day removed from its worst day since Liberation Day and just over the 200 day SMA. It started higher Monday and by Wednesday was at its 100 day SMA and resistance. Thursday and Friday both pressed against resistance but then fell lower.The RSI is dropping from the midline in the bearish zone and the MACD negative and near a cross up.

The weekly chart shows an inside candle after the long red candle, a possible reversal signal. The RSI is holding at the midline in the bullish zone with the MACD rolling lower and positive. There is support lower at 751.50 and 748.50 then 742 and 740 before 733 and 728. There is resistance above at 755.50 and 761 then 762.50 and 769 before 772 and 776. Short Term Pullback.

SPY Weekly, $SPY

In the wake of a week that saw continued elevated inflation finally change the Fed rhetoric to a hawkish tone and our AI savior Jensen resign over allegations of illegal chip sales and sexual misconduct, equities held up quite well, gaining on the week. Going forward, look for Gold to continue lower in a downtrend with Crude Oil settling into a consolidation at lower prices. The US Dollar Index looks to continue higher after changing character into an uptrend while US Treasuries resume the downtrend after a failed reversal test. The Shanghai Composite continues its downtrend while Emerging Markets move lower in their downtrend as well.

The Volatility Index looks to continue in slightly elevated territory, but lower, reducing some of the pressure on equities as the calendar turns to a week of little economic news and few earnings reports. The SPY, the IWM and QQQ all mounted a moderate move higher after their breakdowns but remain vulnerable with the SPY approaching its short term moving average while the IWM and QQQ remain at or below their long term moving averages. The SPY and QQQ continue to look stronger on the longer timeframe with inside weeks that could foretell a reversal higher while the IWM continues in a short term downtrend with mixed signals. Use this information as you prepare for the coming week and trad’em well.

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