April 3, 2012

CHART-II
  • Price hits the channel support line as discussed in the below chart.
  • SPY may bounce from the channel support line 

CHART-I
  • SPY One hour chart shown with a channel and 20 Hour SMA.
  • Staying below 20 Hour SMA price is likely to test the channel support line before moving up


  • ES one hour chart shows price moving up in a channel.
  • 2nd chart shows price in an ascending triangle.
  • Bears need to break below 50 Hour SMA and the black line.
  • S&P 500 ANALYSIS AFTER CLOSING BELL



  • Silver hour chart is showing resistance near 33.19 - 33.23 levels. Hour closing above this level should give good up moves. Rising support levels may give an upper breakout.
  • Support level in hour chart is the 200 Hour SMA. Price also shows a small bull flag pattern in chart which may help bulls of silver.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


  • Price closed above 50 and 20 Day SMA. Bulls need follow up and has to close above the resistance line for a bigger up move to unfold.
  • Price also getting closer to 5 Week High EMA which need to be crossed on closing basis for a sustained up move.
  • India VIX is closing in on support line which may give hope for bears.
    • 5 Week High EMA at 5370
    • 50 Day SMA at 5311
    • 20 Day SMA at 5291
    • S&P 500 EOD ANALYSIS


    • The weekly bullish cross of 20 and 50 Week SMA continues to do well.
    • The hammer candlestick of daily time frame at 20 Day SMA too continues to do well.
    • Four hour chart shows a likely resistance line
    • One hour chart shows bearish engulfing setups near those trend lines which might result in a dip before  the next up move.
    • ES SUPPORT LEVELS


    Disclaimer

    All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

    Followers

    Blog Archive

    Powered by Blogger.

    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