January 31, 2012



  • RIMM Weekly chart near Middle bollinger band
  • Next two chart shows the strong down trend of the stock.
  • Price has to close above the daily cloud and 100 SMA for a possible change in trend to happen. Till then consolidations will result in down moves.
  • PROSHARES ULTRA SEMICONDUCTORS
  • SPX ANALYSIS AFTER CLOSING BELL


  • Support and resistance lines of weekly chart shows possible triangle in the making.
  • MACD may trigger a sell if price falls below 40.27.
  • Major support is the 200 SMA which is near 36 levels.
  • SPX ANALYSIS AFTER CLOSING BELL

  • Crude Oil near the apex of a contracting pattern.
  • Price may breakout of the pattern soon giving good direction for crude oil.
  • SPX ANALYSIS AFTER CLOSING BELL

  • Hanging man has managed to stop bulls from crossing 200 SMA.
  • But price has to fall below 5 Day Low EMA or 10 Day EMA for triggering a sell.
  • Price stopped at 78.6% which will keep the bears interested. Price has to sustain below the Golden ratio for bears to strengthen more.
  • So we shall wait and see if a sell gets triggered or a retrace of yesterday's fall happens.
  • S&P 500 EOD UPDATE

  • No breakout in month chart yet.the down trend line from 2007 was tested and rejected last week.
  • Weekly chart's breakout was tested today. Price violated the resistance line but came back to close the day above the line.
  • Daily chart shows price getting support near 20 Day SMA. Any weakness will be visible in this time frame. Closing below 20 Day SMA will strengthen bears.
  • ES FOUR HOUR CHART ANALYSIS

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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