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
- 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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