S&P 500 hour chart analysis

UPDATED CHART

• S&P 500 has crossed the 50 hour moving average.
• Now yesterday's high price of 1100 will be the next hurdle to cross.

CHART BEFORE UPDATION

• S&P 500 is testing 50 hour moving average again.
• The index got resisted at the 50 hour moving average yesterday.
• Breakout with good volumes can take the index higher.

Dow Jones futures before opening bell

UPDATED CHART

• As expected from the below chart the correction is getting deeper

• Dow Jones futures gave a good breakout above 10360 Yesterday and was followed by a near 100 point rally. But the index was not able to sustain at higher levels.
• Today it has given away most of the gains. We had an intraday dip below 10360.
• If the index goes below 10360 again the correction may become deeper.
• As long as the index trades above 10360 long trades can be initiated. 

Nifty's Resistance line in 15 minutes chart

TODAY'S TARGET ACHIEVED

• Minimum target of 15 to 20 points is achieved.

• Nifty is getting resisted near day high of 5448.
• A break out can give 15 to 20 points minimum.
• If it gets resisted it will remain in a range.

• Nifty has given a gap up. But the index has not managed to break an important resistance line in 15 minutes chart.
• Good up move is possible only on a good volume break of the resistance line.

Nifty daily chart analysis

• Nifty closed near day low ema. Nifty has closed below 20 sma for the last 2 days.
• 50 day moving average is approaching the price so the consolidation may come to an end soon.
• DOW JONES END OF DAY ANALYSIS
  

Dow Jones Analysis after closing bell

DAILY CHART

HOUR CHART

• Dow Jones Industrial average closed 103.84 or 1.01% up.
• Index closed above its 50 DMA. But got resisted by the 20 DMA. 
• The hour chart also shows how 50 hour SMA acts as resistance.
• DOW JONES HOURLY CHART ANALYSIS
  
  
  
  
  

S&P 500 hour chart analysis

• S&P 500 hits resistance at 50 hour SMA.
• It seems there will be a consolidation at this level before taking the next direction
• DOW JONES HOURLY CHART ANALYSIS