September 3, 2012

  • JPM Weekly chart shows resistance at 100 Week SMA.
  • Price is doing a bearish flag like consolidation pattern in weekly time frame.
  • Last chart shows price closing above 20 Week SMA. Falling below this line should give a correction towards the flag's support line. Price sustaining below 20 Week SMA May also give a flag breakdown  for bears of JPM.
  • SPY WEEKEND UPDATE


 
  • Nifty Daily chart shows support near 50 Day SMA and the rising support line.
  • Fibonacci levels too price bouncing from support levels.
  • Weekly chart is seeking support at the cloud. Shooting start pattern of weekly chart continues to look good for bears.
  • Last chart shows another month loosing momentum and closing below 5 Month High EMA.
  • BANK NIFTY WEEKEND UPDATE


  • ES 4 Hour chart shows support levels.
  • Second chart shows sideways movement in four hour chart.
  • Daily chart shows bollinger band contraction which should be followed by a trending move soon.
  • SPY WEEKEND UPDATE


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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."
—Jesse Livermore