- Ford Motor co Daily and Weekly charts continue to look bearish.
- Friday the stock broke down from a range. Weekly chart shows a bearish flag breakdown, Weekly stochastic does not show any reversal signs.
- Third chart shows a possible support line which may give a reversal for the stock, But this support line is also the neck line of a big Head and Shoulders pattern. Bulls of Ford must hope that this pattern gets failed to avoid a bigger correction.
- SPY WEEKEND UPDATE
June 30, 2012
- SPY Weekly chart has given a bullish engulfing pattern.
- For bulls price need to sustain above 20 Week SMA and the Golden Ratio shown in 3rd Chart. Trading above Golden ratio should target the 78.6% Fibonacci level area at 138.6.
- Hope left for bears as the Weekly MACD sell signal has not been negated completely . Bears must hope for weakness near 80% retrace level. Any weakness there will keep the MACD sell signal alive. But i must warn that the momentum in daily has turned in favor of bulls.
- S&P 500 CHART ANALYSIS