July 17, 2012

  • SPY Near the apex of a contracting pattern. breakout or breakdown may result in good moves.
  • Right now price is testing 200 period SMA of 4 Hour time frame. for the up move to sustain price has to stay above this level and the falling resistance line.
  • For a bigger up move the range 132.60  - 137.50 has to be resolved. 




  • ES Four hour chart is in a range near Golden ratio. Price sustaining above 50 period SMA is good for bulls. Bulls need a breakout above the black line shown in last chart for the up move to extend towards 1370 levels.
  • Price sustaining below 1350 would lead to a correction towards 1335 levels.
  • S&P 500 ANALYSIS AFTER CLOSE




  • Nifty Hour testing 200 Hour SMA.
  • Price is stuck between two GAP's and a small falling wedge pattern.
  • 200 Hour SMA Holds the Key. If price sustains below 200 Hour SMA and the falling wedge's support line we should see a fall to fill the GAP on the downside.
  • Bullish above the falling wedge resistance line and on a break above 5231.



  • Nifty has closed below 20 day sma AND 23.6% Fibonacci level.
  • Nifty Hour is at the crucial 200 Hour SMA. Bears of nifty need a breakdown below this level. Getting support at this moving average will result in a bounce.
  • Hour chart also shows price near previous resistance levels which may result in an oversold bounce.
  • S&P 500 EOD UPDATE



  • First chart shows trend lines and support lines which must be taken out for a bigger move to happen.
  • Second chart shows the range 1325 - 1374 which must be broken for a bigger move.
  • Last chart shows rising support levels with the up move of 200 Day SMA. For bears closing belwo 200 SMA will result in a bigger correction.




  • Apple four hour chart moving up in a channel. Sustaining withing this channel corrections will be shallow and the steady up move will continue.
  • Price shows major resistance at 78.6% Fib level and 20 Week SMA as crucial support.
  • CITIGROUP CHART ANALYSIS


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