Russell 2000 Weekend Update

• Russell 2000 had good resistance at 670 region.
• This area happens to be the 50% retrace level for the index.
• On Friday the index made a good close above the 50% Fib level.
• Now if the index manages to trade above 670 it should target 685 and 695 as targets.

AMAZON Breakout

UPDATED CHART

BELOW CHART POSTED ON 21ST SEPTEMBER

• Amazon had good resistance at 151 as shown in the weekly chart.
• It crossed the resistance on 21st of this month as shown in this POST.
• Stock closes near its high last week. So the momentum can take the stock to more high's during next week.

BANK NIFTY Weekend update

• Bank nifty seems to be heading for 12340 level again.
• Daily chart is showing a range of 12068 - 12340. 
• Stocks like State Bank of India are poised for  an upside breakout again so some more upside left in Bank Nifty.
• Break of 12340 can give another good up move for this index.
• CLICK HERE TO SEE THE ANALYSIS ON SBI
  

Tata Chemicals Ltd

• Tata chemicals is consolidating after a good bull run from 340 levels.
• Stock has good support at 394. So one can buy it above 20 DMA 
• Stock has formed a Kind of diamond pattern. Diamond's are reversal patterns. But the price action seems to be hinting towards an upside breakout.
• One can remain long above 405 or the 20 Dma with a tight stop loss.

STATE BANK OF INDIA

• State bank of india is all set to breakout again. 
• If the stock breaks and trades above 3166 the first target will be 3200 and it may not stop there.
• If SBI breaks out from consolidation it will take Bank Nifty along with it.

DOW JONES Weekend update

• Two weekly chart of Dow Jones Industrial Average.
• First chart shows Dow Jones closing above an important resistance line. And this is also a 20 week high for Dow Jones. 
• Second chart shows the Fibonacci levels in weekly chart. Index has closed above its 61.8% Fib level which has given resistance for sometime. Next resistance will be at 10940 levels were the 78.6% Fib level is located, That can be kept as a first target for this positive weekly closing.
• SPY WEEKEND UPDATE

SPY Weekend update

• Two charts SPY Fibonacci levels and the main levels for next week shown in the second chart.
• SPY is trading above its 61.8% fib level which is positive and next week if continues to trade above 61.8% level chances of 100% retrace level will increase.
• Main level to watch for next week is 114 and 115. Trading above 115 SPY will target 117. Trading below 114 will be negative and will be followed by a correction or a sideways move.

S&P 500 Analysis after closing bell

• S&P 500 daily line chart is showing a steady upward momentum. Index is making higher high and higher lows.
• Weekly chart shows previous resistance at 1150. Next week index should trade above 1150 for sustained up move.
• Daily chart has also completed a rising three method mentioned in the earlier POST.