05/11/2019 | by Jake Wujastyk

Market Update Into 5/13: All Eyes on the EMA (50)

BlogPrepare for the Trading WeekMarket Update Into 5/13: All Eyes on the EMA (50)

In this weekend’s analysis, we take a look at the short-term price support on the EMA (50) for $SPY and $QQQ but resistance for $XBI. The biotech chart is a great example of using the TrendSpider indicator alert when the price action hit the EMA (50) was and rejected hard to the downside. Learn more below!

Weekend Analysis

$SPY: Daily vs. Weekly Chart

$SPY daily and weekly charts.

$QQQ: Daily vs. Weekly Chart

$QQQ daily and weekly charts.

$XBI: Daily vs. Weekly Chart

$XBI daily and weekly charts.

$XBI: Before vs. After

This weekend’s “before” and “after” shows the daily candle hitting the EMA (50) sensitivity alert and then reversing hard. The chart shows an image of the alert that was sent through a text message. To learn more about this feature, click here!

$XBI chart showing the daily candle hitting the EMA (50) sensitivity alert and then reversing hard.