Consistent trading success requires regular market analysis. A structured weekly review helps you understand what happened, why it happened, and how to position for the week ahead. This framework will help you conduct thorough weekly analysis efficiently.
Why Weekly Reviews Matter
Daily price action can be noisy and misleading. Weekly reviews provide perspective:
- Weekly candles filter out intraday noise
- Trends become clearer on higher timeframes
- Patterns complete and confirm over weeks
- Major support and resistance levels reveal themselves
- Preparation reduces emotional decision-making
Best Practice: Conduct your weekly review over the weekend when markets are closed. This allows uninterrupted analysis without the pressure of live price action.
Part 1: Index Analysis
Start with the major indexes to understand the overall market environment:
S&P 500 Weekly Review
- What was the weekly performance (percentage gain/loss)?
- Did the index close above or below key moving averages (21, 50, 200 week)?
- What was the weekly range compared to recent weeks?
- Did the weekly candle show bullish or bearish character?
- Where are the next key support and resistance levels?
NASDAQ 100 Weekly Review
- How did tech perform relative to the S&P 500?
- Is QQQ/SPY ratio rising or falling?
- Any notable technical levels tested or broken?
Russell 2000 Weekly Review
- How did small caps perform relative to large caps?
- Is IWM/SPY ratio signaling risk appetite changes?
- Small cap participation in any rally or selloff?
Index Comparison Template
Create a simple table each week:
- SPY: +1.2%, above 50-week MA, bullish weekly candle
- QQQ: +1.8%, outperforming, testing resistance at $400
- IWM: +0.5%, underperforming, still below 200-week MA
This quick snapshot reveals market character immediately.
Part 2: Sector Rotation Analysis
Review all 11 sectors to understand where money is flowing:
Weekly Sector Rankings
- Rank sectors from best to worst weekly performance
- Identify which sectors led and which lagged
- Note any significant sector rotations from prior week
- Classify leaders as offensive or defensive
Key Questions
- Are cyclical or defensive sectors leading?
- Is sector leadership consistent with the index trend?
- Any sectors breaking out or breaking down?
- Where is volume expanding?
Part 3: Breadth Analysis
Look beneath the surface to gauge market health:
Breadth Indicators to Review
- Advance-decline line: rising, falling, or diverging?
- New 52-week highs vs new lows
- Percentage of stocks above 50-day MA
- Percentage of stocks above 200-day MA
- McClellan Oscillator reading and trend
Warning Signs: If the index is making new highs but breadth indicators are not confirming, the rally may be narrowing. Conversely, if the index is falling but breadth is holding up, underlying strength exists.
Part 4: Intermarket Review
Check related markets for context and confirmation:
Key Markets to Review
- Bonds (TLT): Yields rising or falling? Flight to safety?
- Dollar (UUP): Strengthening or weakening?
- Gold (GLD): Safe haven demand?
- Oil (USO): Demand signals, inflation implications
- VIX: Fear elevated or complacent?
- Credit (HYG): Spreads widening or tightening?
Correlation Check
- Are intermarket relationships behaving normally?
- Any divergences suggesting potential changes?
- What is the overall risk-on or risk-off tone?
Part 5: Economic Calendar Review
Prepare for the week ahead by reviewing upcoming events:
Key Events to Track
- Federal Reserve speakers or FOMC minutes
- Major economic data releases (CPI, jobs, GDP)
- Earnings reports from market-moving companies
- Options expiration dates
- Geopolitical events or scheduled announcements
Weekly Calendar Template
Create a simple calendar:
- Monday: No major data
- Tuesday: PPI release 8:30am
- Wednesday: CPI release 8:30am, Fed Chair speaks 2pm
- Thursday: Weekly jobless claims, retail sales
- Friday: Options expiration, housing data
Part 6: Technical Level Identification
Identify key levels for the week ahead:
Support Levels
- Prior week's low
- Key moving averages (21, 50, 200 day)
- Prior swing lows and pivot points
- Round number psychological levels
- Gap fill levels
Resistance Levels
- Prior week's high
- All-time or 52-week highs
- Prior swing highs
- Round number levels
- Key moving averages from below
Track Your Weekly Performance
Pro Trader Dashboard helps you review your trades alongside market conditions to understand your edge.
Part 7: Personal Trading Review
Review your own trading from the past week:
Performance Analysis
- Total P&L for the week
- Win rate and average win vs average loss
- Best and worst trades
- Trades that followed your plan vs emotional trades
Trade Journal Review
- What worked well this week?
- What mistakes did you make?
- Did you follow your trading rules?
- What can you improve next week?
Part 8: Week Ahead Game Plan
Develop your plan for the coming week:
Scenario Planning
- Bullish scenario: If market breaks above X, focus on Y
- Bearish scenario: If market breaks below X, focus on Y
- Neutral scenario: If range-bound, consider Z strategy
Watchlist Creation
- Stocks or ETFs setting up for potential trades
- Specific entry, stop, and target levels
- Catalyst dates to be aware of
Risk Management Plan
- Maximum risk per trade
- Maximum risk per day/week
- Position size guidelines
- Drawdown rules for stepping back
Creating Your Weekly Review Template
Develop a consistent template you use each week:
Sample Template Structure
- Date and week number
- Major index weekly summary (5 minutes)
- Sector performance table (5 minutes)
- Breadth indicator readings (5 minutes)
- Intermarket summary (5 minutes)
- Economic calendar for next week (5 minutes)
- Key levels for next week (5 minutes)
- Personal trading review (10 minutes)
- Week ahead game plan (10 minutes)
Total time: approximately 50-60 minutes once per week.
Common Weekly Review Mistakes
- Skipping weeks: Consistency is key, do it every week
- Too much detail: Focus on what matters most
- No action items: Always end with a specific plan
- Ignoring personal trades: Self-review is crucial
- Overcomplicating: Keep it simple and repeatable
Summary
A structured weekly market review transforms you from a reactive trader to a prepared one. By consistently analyzing indexes, sectors, breadth, intermarket relationships, and your own trades, you develop a deep understanding of market conditions. This preparation reduces emotional decisions and increases confidence in your trading. Commit to this weekly routine and watch your trading improve.
Continue learning with our monthly market outlook framework or explore market regime identification.