February 6, 2012

  • Google filling the Gap in daily chart.
  • Price is also moving towards 50 Day SMA.
  • Getting resisted at 50 SMA and the close of the GAP may result in a down move. On the contrary price is in a range between 50 and 200 SMA. We may see good moves when this range gets resolved.
  • EURUSD IHNS PATTERN
  • Breaking 62.12 will give the next up move for QQQ.
  • For bears price weakness is possible below the trend line 
  • EURUSD IHNS PATTERN


  • EURUSD Has a bullish pattern But price has to sustain above 23% Fib level and 50 Day SMA for the IHNS pattern to work in favor of bulls of EURUSD.
  • PCLN RESISTANCE LINE
  • ES TREND UPDATE
  • ES sustaining above 1329 will favor bulls.
  • For bears weakness only if price falls below 50 Hour SMA or Hourly cloud.
  • QQQ WEEKEND UPDATE
  • SPY WEEKEND UPDATE
  • For nifty's trend to turn, last swing high shown in second chart should be taken out. Price continue to move away from 200 SMA. Month chart shows higher possibilities but one should consider the time factor and a possible pull back to 200 SMA before looking at higher targets for the current month contract.
  • CNX IT NEAR RANGE TOP
  • CNX - IT Moving away from 200 week moving average.
  • Weekly chart Trying to break the cloud If successful the up move of last two weeks will continue

  • PCLN Weekly chart shows price hitting the resistance line.
  • Second chart shows a Buy signal with Weekly MACD indicator. So a short trade at this resistance line can be taken only after a confirmation. 
  • Third chart shows price above 10 Day EMA and Daily MACD lines looking positive for bulls. So a short trade can be taken after a MACD Sell signal and a close below 10 Day EMA. If price sustains above 10 Day EMA it could lead to a breakout.
  • QQQ WEEKEND UPDATE
  • SPY WEEKEND UPDATE

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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