Market 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!
$SPY: Daily vs. Weekly Chart
$QQQ: Daily vs. Weekly Chart
$XBI: Daily vs. Weekly Chart
$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!