- SPX trading below 20 Month SMA will attract bears towards the monthly trend line shown in the same chart. For avoiding a bigger fall bulls must get back above 20 month SMA.
- Daily chart too turned completely bearish after price traded and closed below 200 Day SMA.
- Only hope for bulls is the falling wedge pattern. Price is approaching the support line of the wedge. For this patter to work in bulls favor price has to get back above 200 SMA soon. If the down move continues wedge pattern may fail.
- APPLE RISING WEDGE UPDATE
June 2, 2012
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.