October 28, 2012


  • First chart shows Price testing crucial support zone.
  • Second chart shows price Trying to hold above 100 Week SMA.
  • Third chart shows a parallel support line if the Down move continues.
  • Last chart shows positive divergence in daily time frame with RSI.  If last week's low is held up move may start from here. If the low is broken then up move may start from the parallel support line shown in the third chart.
  • APPLE WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
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  • BAC Weekly chart shows a bearish engulfing pattern at 100 Week SMA.
  • Daily chart shows a triangle breakdown.
  • Last chart shows price breaking below daily up trend line. More falls on price breaking below 50 day sma.
  • IWM WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • Daily chart of apple is looking for a bounce from 200 Day SMA. The long shadow of the candlestick at such a significant moving average is likely to give a bounce before the next down move happens.
  • If the bounce does not go much higher and instead breaks last weeks low at 591 we could see either the lower Bollinger Band or 50 Week SMA as targets on the down side.
  • S&P 500 WEEKEND UPDATE
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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