January 30, 2011

  • First chart shows negative price action below the trend line in daily chart of  Google.
  • Second chart shows price resting exactly at 50 day moving average.
  • 3 chart shows 20 ema and 5 ema giving a bearish cross in daily chart.
  • Last chart is the weekly chart of google. Week has given its second bearish candle.
  • Staying below 50 DMA will favour bears. 


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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