- Dow jones hour chart is trying to regain the losses of today.
- Fib ratio shows 10325 and 10345 areas as resistance.
July 15, 2010
- BELOW CHART WAS POSTED YESTERDAY.
- AND THE PATTERN HAS WORKED PERFECTLY
- Broadening top formation in S&P 500 15 minutes chart.
- I am calling it a top because it has come at the top of the trend. And the main criteria for this to work is that 1101 should not be breached or an hourly close above that should not happen.
- If the index fails to cross today's high and starts to come down that should be the first sign of weakness.
- The pattern will become invalid above 1101.
- DOW JONES FUTURES WITH HIDDEN NEGATIVE DIVERGENCE
DOW FUTURES WITH HIDDEN DIVERGENCE
- Reliance industries Ascending triangle formation.
- Ascending triangles normally breaks on the upside. If goes according to the rules of the pattern this one should take out the main resistance around 1140-1150.
- A down side break cannot be ruled out as well.
- NIFTY DAILY CHART ANALYSIS
NIFTY RAISING WEDGE
NIFTY WITH EMA
- Nifty is forming a raising wedge in hour chart pattern.
- If the index finds resistance at the top of the pattern it should start a correction towards the bottom trend line of the raising wedge.
- The index has closed below its 5 DAY HIGH EMA. This is after closing above it for the past 3 day's.
- BROADENING TOP OF S&P 500
INFOSYS DAILY CHART
INFOSYS CHART WITH EMA
- Infosys Technologies has broken down below an important trend line in daily chart with good volumes.
- The stock has also closed below its 5 day low ema.
- Now the stock becomes a sell on raise candidate unless the stock comes and closes above 5 day high ema again.
- CNX IT CHART ANALYSIS
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