Dow Jones Resisted at yesterdays break down area

DOW FUTURES CHART

• Dow futures chart in 15 minutes time frame with yesterday's trading range.
• The bullish move was resisted at yesterday's break down area.
• SPX too did a similar move. 
• May be if the bulls are strong they will rewind and try once again to break the resistance

S&P 500 Trading near broken support area

• S&P 500 has taken support at 1010 area and is now moving up
• It is trading near yesterdays break down area around 1030.
• Previous supports will act as resistance so yesterdays break down area should also act as one.
• If successfully closes above 1030 it should give some relief for the bulls

U.S. Markets and EUR/USD moves in opposite direction

EUR/USD 4 HOUR CHART

DOW FUTURES

• We had good correlation between the EUR/USD pair and the U.S. Markets till now.
• But today because of the Jobless Claims data they both are moving in the opposite direction.
• This may not go on for too long.
• The first chart above shows the bull flag break out.
• The second chart is that of Dow Jones Futures going down down and down.   

US MARKET UPDATES S&P 500 Trading range breaks on the down side Effect of bearish engulfing in apple inc Positive Divergence Dow Jones weekly rising wedge Ford Motor Co Triangle breaks down

S&P 500 Weekly chart with support levels

• I have shown S&P 500 weekly chart with 50 week moving average.
• The price is trending down below the 50 week moving average.
• Index broke key supports on its way to 1020.
• The last one being 1025.
• Most important thing is that the index should come back above 1025 or 1036 before friday's close. If it does not happen that shows the strength of the bears. And the next target they have in mind will be 947.

US MARKET UPDATES S&P 500 Trading range breaks on the down side Effect of bearish engulfing in apple inc Positive Divergence Dow Jones weekly rising wedge Ford Motor Co Triangle breaks down

EUR/USD is forming a bullish pattern

UPDATED CHART SHOWING BREAK OUT

• A cup and handle pattern is forming in eur/usd pair.
• I have to say the cup portion has not formed a perfect U. But still ia breakout from the channel in which it is trading now can give the same results.
• Break of the channel bottom will invalidate this pattern.
• And the chart is also showing a bull so flag similar results on a break out.

Nifty Resistance line too strong to cross

• This is the fourth time this resistance line is pushing nifty down.
• If it gets there next time surely it will break on the upside.
• But will it get there ?
• Have a look at EUR/USD chart during trading hours. Yesterday during nifty trading hours it showed a bullish picture. When the U.S. Markets opened it gave up all the gains giving us a gap down. So think twice before carrying your positions overnight during such uncertain times.
• Having said that it is not breaking down in a hurry too.

US MARKET UPDATES S&P 500 Trading range breaks on the down side Effect of bearish engulfing in apple inc Positive Divergence Dow Jones weekly rising wedge Ford motors co Triangle breaks down Ford Motor Co Triangle breaks down

Nifty daily chart analysis

NIFTY SPOT DAILY CHART

NIFTY FUTURES DAILY CHART

NIFTY HOUR CHART

• In daily chart spot and futures is still below the trend line.
• In hour chart the price closed right on the trend line.
• U.S. Markets are looking very weak along with Euro.
• S&P 500 and Dow Jones Daily charts are looking bearish. The 50 day moving average is about to close below 200 day moving average resulting in the DEATH CROSS.
• But Nifty's TA set up is looking stronger than the other markets. Having said that traders should consider the above factors before taking huge long positions.

US MARKET UPDATES S&P 500 Trading range breaks on the down side Effect of bearish engulfing in apple inc Positive Divergence Dow Jones weekly rising wedge Ford motors co Triangle breaks down Ford Motor Co Triangle breaks down

S&P 500 Analysis after closing bell

DAILY CHART

WEEKLY CHART

• The daily chart is showing the possibility of death cross of 50 DMA below the 200 DMA.
• The weekly chart showing price trading at 1030 after breaking important support level in the weekly chart.
• If on friday closes near 1030 or below that it will be very negative for the bulls. 
• Already it is trading below the 50 WEEK moving average.

US MARKET UPDATES S&P 500 Trading range breaks on the down side Effect of bearish engulfing in apple inc Positive Divergence Dow Jones weekly rising wedge Ford motors co Triangle breaks down Ford Motor Co Triangle breaks down

S&P 500 range breaks on the down side

• S&P 500 was trading in a tight range for quite some time now.
• It has broken on the down side.
• If it closes near the low of the day more trouble for the bulls in the days ahead

Bearish Engulfing in apple

UPDATED CHART 

• Apple inc's bearish engulfing trade now almost 20 points from top.
• Now it is trading below 50 day moving average. But near an important trend line. 
• One should watch the stock carefully how it reacts from this trend line. If it breaks more down sides are possible

• Few day's back suggested bearish engulfing in apple.
• See how effective the pattern is especially when it forms at the top of the trend.
• Now it is Testing the 50 DMA. 
• CLICK HERE TO SEE HOW THE CHARTS LOOKED WHEN THE BEARISH ENGULFING FORMED