July 15, 2012


  • JPM Closed the day above 50 day SMA. Up move also showed good volumes for the day.
  • But price is moving into stiff resistance levels. 
  • 50 Week SMA. 38.2% Fibonacci levels and daily swing high's may stop bulls from moving ahead. 
  • crossing 37.03 should target the GAP between 38 and 40.
  • SPX WEEKEND UPDATE




  • Rising wedge has given a breakdown in favor of bears Now price has to takeout the GAP shown in first chart for bears to gain momentum. 
  • MACD has given a sell signal But price sustaining above 20 Day SMA should give another chance for bulls to move up. For bears a close below 20 SMA is needed to gain momentum.
  • For a bigger breakdown price has to close the week below 20 Week SMA (5174).
  • Monthly chart shows price getting resisted at 5 Month High EMA.



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