Brian Shannon: SPY weakens below rising 5SMA as QQQ and SMH hold gains

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03.06.2026

Brian Shannon: SPY weakens below rising 5SMA as QQQ and SMH hold gains — SPY slips 5SMA, QQQ and SMH stronger

Brian Shannon, founder and full-time trader at AlphaTrends, provides a market update on major U.S. indices. Shannon observes that SPY has slipped below its rising 5SMA, indicating a more cautious near-term outlook, while QQQ and SMH remain stronger above their respective moving averages. He considers IWM a near-term avoid, pointing to a potential test of the May low AVWAP.

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Shannon recently introduced two new contributors to AlphaTrends and detailed a 2026 Memorial Day sale valued at $3,101 for $1,334 in a previous announcement. For the week ending May 29, 2026, he also reviewed major U.S. stocks and cryptocurrencies, offering a market outlook in a recent analysis. These updates follow his ongoing market coverage.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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