August 14, 2010

DAILY CHART
WEEKLY CHART
DAILY CHART
  • Dow Jones Industrial average closed down 15.02 points or -0.15%.
  • Price managed to close above 50 day moving average.
  • The weekly chart shows price closing exactly at 50 week moving average.
  • So any negative news next week will result in index breaking 50 day and 50 week moving average. 
  • Index is trading near 38.2% Fib retrace level of rise from 9600 - 10700 levels.
  • APPLE IS IN A TRIANGLE IN DAILY CHART

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore