S&P 500 Weekend update

• SPX Daily chart shows volume spike for the bearish candle.
• Price managed to hold above 20 Day SMA. MACD Histogram shows negative divergence which will favor bulls only if price stays below 20 Day SMA.
• Fib level shows price falling from 78.6% Fib level. More falls if the Golden ratio does not hold.

NIFTY Weekend update

 

 

• Daily MACD has given a sell. If price trades below the trading range we could see a correction towards the up trend line in  daily chart.
• For bears price closed below 5 Week High EMA. Further break below 5 Week CLOSE EMA will add momentum on down side.
• Read 5 Week SMA as EMA in weekly chart

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