This is a Guest Post by @TrendSpider and originally appeared on their TrendSpider Blog.
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 Video Analysis
SPY: Daily vs. Weekly Chart
QQQ: Daily vs. Weekly Chart
XBI: Daily vs. Weekly Chart
TrendSpider is a new type of charting platform designed to help active traders make smarter trading decisions by automating the grunt work they normally do by hand. It is the first (and only) charting system to offer a fully-customizable automation engine and patent-pending dynamic price alerts on indicators, trendlines and complex multi-conditional criteria on top of a charting system. Through these features and others, TrendSpider helps active traders find better trade setups, faster, with greater accuracy, while improving their trade timing. Here is the like to check this charting service out-> https://www.trendspider.com/
You can also follow them on Twitter here-> @TrendSpider
This post is not investment advice it is for informational purposes only and is not investment advice.