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The major index ETFs are all sitting at important levels as we head into Thanksgiving week — and lighter-than-normal holiday volume. So today I’m walking through SPY, QQQ, DIA, and IWM with one goal: Pay close attention to how I map and compare the charts for keys to comparing similar markets!
🔍 Highlights
1️⃣ SPY (SPDR® S&P 500® ETF Trust):
The weekly chart mirrors ES futures closely, with both recently showing a Bearish Bull Bear RSI FaceOff . Both markets retested the week ending October 10 low and held. The near-term focus: reclaiming the November 20 high to confirm short-term bullish momentum.
2️⃣ QQQ (Invesco QQQ Trust):
QQQ and NQ look almost identical on the weekly timeframe, also testing the October 10 low. On the daily chart, QQQ pushed more deeply into oversold territory compared to ES, reflecting the recent tech and AI weakness. Like SPY, the ETF must get above the November 20 high to signal a stronger upside shift.
3️⃣ DIA (SPDR® Dow Jones® Industrial Average℠ ETF Trust):
The Dow complex remains more robust than SPY or QQQ. DIA held above its October 10 low, with an additional successful retest on October 14. The short-term roadmap is the same: climbing above the November 20 high to reopen a move toward the all-time highs.
4️⃣ IWM (iShares Russell 2000 ETF):
IWM came back to the week ending August 1 high and held beautifully, forming a weekly hammer candle. On the daily chart, the Russell is already edging above its October 20 high — putting small caps slightly ahead of large caps in showing signs of turning higher. As always, remember the Russell reflects the behavior of 2,000 stocks, not one single driver.
So if you're comparing any two related instruments — like futures and ETFs — always confirm you’re on the same timeframe, using the same indicators, and checking the same structural levels. When you do that, the price action and market timing clues will often line up almost perfectly by design.
If this gave you a clearer read heading into the holiday week or helped you think through side-by-side chart analysis, hit that like button.
~Hima
PS: Don’t forget to check our Events Calendar for all the coaching this holiday season!
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