Bullish Breakout with EMA Confirmation
QQQ shows clear upward momentum with rising closes above EMA5 and EMA9 levels across the five-day period. Price action consistently traded above key moving averages with a strong close above 714 on May 14 followed by consolidation near 709 on May 15 and 706 on May 18. SPY mirrors this trend with sustained above-average volume and closing prices breaking prior highs while holding well above its 20 and 50 period EMAs. VIX declined to 17.82 on May 18 reflecting lower implied volatility and reduced market stress.
Footnote:
Disclaimer: Nothing you read on this site should be considered as financial advice. Do your own research and take responsibility for your own decisions.
Source: QQQ
Ticker: QQQ
Top ETF Picks by Sector
- XLE (Energy) Score: 9, Strength:15
- XLP (Staples) Score: 9, Strength:15
- CGDV (Technology) Score: 8, Strength:32
- SPY (Core-Large) Score: 8, Strength:27
- VOO (Core-Large) Score: 8, Strength:27
- USMV (LowVol-Large) Score: 8, Strength:15