October 16, 2011

  • SPY Weekly indicators are looking good for bulls to extend this gains.
  • Price is about to enter resistance levels between 123 - 126 if it goes up some more.
  • If price stays above 126 levels then weekly indicators will completely turn in favor of bulls.
  • For bears the weekly middle Bollinger Band (20 Week SMA) and the daily Ichimoku cloud should help. If these levels are taken out then bulls will be stronger.
  • Hathway cables weekly chart shows Big increase in volume and price.
  • Last week This stock traded 13.52 Million shares while the previous week was only 0.25 Million.
  • Price is approaching resistance levels 126 and 138 Also the weekly ichimoku Cloud. We might see some profit booking at these Levels
  • Staying above 1230 Bulls can extend this up move towards 1250 levels. If it is retracing the breakdown from rising wedge It may go higher towards 1300 levels before the big fall.
  • For bears they have to protect this level between 1219 - 1230 level and push price below 1202 for a bigger fall to happen.


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"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