December 6, 2012

 
  • QQQ Hour chart shows 200 Hour SMA giving support and 50 Hour SMA is acting as resistance for now.
  • Price trading above 50 Hour SMA and Hourly cloud should give a bigger up move.
  • For bears price need to break below 200 Hour SMA and hourly cloud.
  • APPLE - THE DEATH CROSS
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  • SPY Hour sustaining above 200 Hour SMA and the Hourly cloud should favor bulls for an up move.
  • Bearish only if price starts to trade below 140.37 levels.
  • Apple daily chart Waiting for the death cross. Previous Death cross happened in 2008 when the stock was trading near 140 levels followed by a sell off which took the stock below 100 levels. Then the last major cross happened in 2009 which was the Golden cross when the stock was trading near 120 levels which was followed by the golden period for the Apple Bulls.
  • Now these crosses can go both ways. If the recent low of 505 gets broken we may see a big sell of in apple. If the this level holds it may result in a false death cross followed by a big up move.
  • S&P 500 ANALYSIS AFTER CLOSE
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  • BAC Breaks above the weekly resistance area.
  • Weekly fib fan shows price testing 38.2% Fib line. for bulls price must break above this line for bigger up moves. 
  • Fibonacci levels for 4.92 - 15.31 Shows possibility of price hitting the Golden ratio at 11.36.
  • Despite yesterday's up move BAC is facing a cluster of resistance levels.

 
 
  • IVRCL Daily chart shows price trying to stay above the falling resistance line. Price has already moved above 50 , 20 and 100 Day SMA's. Now the next resistance is at the 200 Day SMA which is at 48.80 levels.
  • For the long term trend of the stock to change price should sustain above the weekly cloud which is above 51.40 levels.
  • NIFTY 50 STOCKS REALTIME 5 MINUTES CHART WITH AUTOREFRESH
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  • Weekly chart of JP Associate looks like a rounding bottom pattern.
  • Daily chart and RSI Shows negative divergence. Price yet to confirm weakness.
  • Weekly RSI too at overbought zone here too price looks strong. One can wait for a bearish weekly candle for going short.
  • NIFTY 50 STOCKS REALTIME 5 MINUTES CHART WITH AUTOREFRESH
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  • SPX 4 Hour chart shows a possible inverted head and shoulders pattern
  • 50 Day SMA and Golden ratio will continue to act as stiff resistance levels.
  • Crucial support levels at 20 and 200 Day SMA.

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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