December 29, 2012


  • S&P 500 Daily chart with fib fan shows price heading towards the next fib line.
  • Daily chart also shows 200 Day SMA near 1390 levels.
  • Weekly chart shows 50 Week SMA at 1384 and rising support line as possible support levels.
  • DEATH CROSS OF DOWN JONES
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  • CISCO Candlestick charts shows a potential reversal formation.
  • Price has failed to stay above 200 Week SMA. Week closed below 200 Week SMA.
  • Price has also fallen below 20 Day SMA. Price sustaining below 20 SMA will extend gains for CSCO Bears.
  • DEATH CROSS OF DOWN JONES
 
 
  • Dow Jones daily chart is getting ready for a death cross.
  • The weekly rising wedge is also looking good for bears. Weekly candle also closed below 50 Week SMA.
  • Last chart shows levels which may act as support for the coming week. 
  • APPLE CHART 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