October 6, 2011

  • Dow Jones is near its 20 Day moving average.
  • Price is also approaching a resistance line in daily chart.
  • So for bulls closing above 20 sma and the resistance line will be good.
  • Getting resisted here may give a shorting opportunity for bears.
  • Hour chart staying above 50 hour sma will help the bulls.
  • Price should also break and sustain above the hourly cloud for continuing this up move.

  • ES Four hour chart shows price approaching a resistance line with overbought stochastic readings.
  • If this up move is strong then Indicators will stay overbought and price will continue to move up.
February 24, 1955 – October 5, 2011

             
  Steve Jobs Dies at the age of 56. According to me his accomplishments for Apple and computer industry can never be equaled by any one.

One of the famous quotes about Steve came from Bill Gates: "The world rarely sees someone who has had the profound impact Steve has had, the effects of which will be felt for many generations to come,"

A Quote by Steve jobs from his famous Stanford University speech in 2005

"Remembering that I'll be dead soon is the most important tool i have ever encountered to help me make the big choices in life. Because almost everything all external expectations, all pride,  all fear of embarrassment or failure these things just fall away in the face of death,  leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart"
"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma  which is living with the results of other people's thinking. Don't let the noise of others opinions drown out your own inner voice"
 

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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