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Bearish Engulfing of APPLE

  • Apple has given two bearish engulfing patterns in weekly chart. We saw a Pin bar reversal candle at the top of the trend too.
  • Daily chart has closed the day below 50 day moving average.
  • Weekly indicators are also showing bearish things to come. Stochastic has triggered a sell. 
  • Weekly MACD is likely to give a sell in the coming week.
  • Only hope for bulls is the weekly trend line which has to be broken by bears for the long term trend to change.
  • So in all likelihood we are looking at the top of apple for sometime to come. Provided bears manage to break the weekly trend line.
  • S&P 500 CLOSED BELOW 200 WEEK MOVING AVERAGE
Posted by San at 8:24 PM 0 comments
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S&P 500 Closed below 200 Week Moving average

  • SPX closed the week below its 200 week moving average.
  • Last weeks candle violated this level but was able to close above it. But this weeks candle closed below it.
  • Its looking bad for bulls, If the recent lows are taken out then targets are much lower. I will be doing a detailed weekend update on SPX later.
  • BEARISH ENGULFING OF AAPL
Posted by San at 4:53 AM 2 comments
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