July 14, 2012


  • MSFT Took support at the 50 Week SMA on Friday. But price continue to trade within the bearish weekly chart which will give shorting opportunities for bears.
  • For now the stock continue to remain in a range between 28.32 - 31.14. For the coming week Friday's bounce may get extended towards the falling resistance line shown in first chart.
  • SPX WEEKEND UPDATE



  • Daily chart shows price moving up and RSI moving in a sideways channel which should favor bears But price sustaining above 50 Day SMA is giving support to bulls. Price on closing above 100 Day SMA should strengthen bulls further.
  • Immediate resistance levels are the Golden ratio and 1370 - 1374 zone. 
  • Weekly chart shows price testing 20 Week SMA and MACD ready for a buy signal But Price sustaining below 20 Week SMA Should keep the MACD sell signal intact for a correction. 
  • FALLING WEDGE OF EURUSD




  • Falling wedge possibility was discussed in the BROKEN TREND LINES OF EURUSD post.   Price is testing the support line now. Break below this line could give 1.18 levels soon. If it gets support here we may see a counter trend move in EURUSD For the coming week.. 


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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."
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