January 31, 2013

  • US Dollar Daily chart near support level.
  • Weekly chart too is shown with a possible support line.
  • Price is nearing 100 Week SMA. If the above mentioned levels are held a reversal is possible.
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  • Bank of america daily chart is trying to form a descending triangle pattern.
  • Price is still inside a trading range with resistance at 20 Day SMA and crucial support at the range bottom and the rising 50 Day SMA.
  • Weekly Fib fan shows resistance at 50% Fib line.
  • ES CHART UPDATE
  • OVERBOUGHT WEEKLY RSI - CISCO
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  • ES 4 Hour chart testing crucial support zone and 50 period SMA.
  • Falling below support level and 50 period SMA may lead to the 4 Hour cloud. Trend is safe on price sustaining above the cloud. 
  • OVERBOUGHT WEEKLY RSI - CISCO
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  • CISCO Weekly chart shows a possible double top pattern pending confirmation. 
  • Weekly RSI is at overbought zone. Last two times price has given good correction from overbought zone. 
  • Daily chart shows price breaking an up trend line and closing below 20 Day SMA. Sustaining below these levels may extend correction towards 50 SMA for a bigger fall price must break below 50 Day SMA.
  • RIMM SUPPORT LEVELS
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  • RIMM Closed below 20 Day SMA and the previous resistance level of 14.21
  • Fib Levels shows price testing 38.2% Fib area which should hold to stop further correction.
  • Next crucial level is the 50 Day SMA Which should hold to avoid a bigger fall. The Golden cross will also become weak if price starts to trade below 50 Day SMA.
  • Price continue to move with the boundaries of the contraction pattern.
  • Support line, 20 Day SMA and 5 Day Low EMA are immediate support levels.
  • Crucial support shown in monthly chart is the 5 Month High EMA.
  • For bears need a close below 20 Day SMA and 5 Day Low EMA for a bigger correction to follow.





  • 30 Minutes chart shows price testing the cloud. 
  • One hour chart shows price breaking below 20 Hour SMA and testing 50 Hour SMA.
  • Last chart is the daily time frame. Price if sustains above the black line should target the upper resistance line around 1517 levels.
  • SPX ANALYSIS
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  • Price testing crucial support levels in one hour and support line in 4 Hour chart. Price must sustain below these levels for a bigger fall to happen. 



January 30, 2013

 
  • Gold near the channel resistance line.
  • Round number of 1700 and 100 Day SMA may act as resistance levels.
  • Price continue to find support near or at the 100 Week SMA. Sustaining above 100 Week SMA a breakout in favor of Gold bulls may happen soon.
  • Facebook Hour chart showing support at 23.6% Fib level, Hourly cloud and 100 Hour SMA.
  • Multiple support levels must break for the correction to continue.
  • Holding above these levels may lead to an up move towards 32 levels again.

  • First chart the 4 Hour chart shown with the channel. Price continue to respect the resistance line of the channel But the corrections are small and the up move resumes.
  • Next chart one hour chart shows the classic technical analysis, Previous resistance is becoming support level.
  • For bears price must sustain below 100 Hour SMA for a meaningful correction to happen.
  • APPLE CHART UPDATE
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  • First chart of Apple shows the GAP as resistance. Partial fading of GAP is possible on price trading above 465 levels.
  • Broken 100 Week SMA and Weekly cloud are stiff resistance levels on weekly chart.
  • Last chart shows the Descending channel staying inside which apple will continue to move in favor of bears. Bulls need to break above the channel resistance line for a meaningful bounce to happen.
  • FACEBOOK NEGATIVE DIVERGENCE AND SUPPORT LEVELS
  • SPX ANALYSIS AFTER CLOSING BELL
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  • First chart of Facebook shows price and RSI Diverging negatively. Price has started to show some weakness but has to break crucial support levels for a bigger fall to happen
  • Immediate support levels are the 20 Day SMA at 30.08 and the zone between 28.75 - 29.27. These levels may try to stop a bigger fall from happening.
  • SPX ANALYSIS AFTER CLOSING BELL
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  • 2nd chart shows SPX Has some more room to move up. First chart shows price yet to get into a range from which a correction could follow.
  • Last chart show the never ending negative divergence between price and MACD Histogram which may continue for a while. MACD lines yet to give a bearish cross.


 
  • Crude oil 4 Hour chart continue to move up by sustaining above the up trend line and the 4 Hour Ichimoku cloud.
  • Weekly chart is testing Golden ratio. Any weakness at this crucial fib level may lead to a correction.



January 29, 2013

DAILY CHART
WEEKLY CHART
 
ONE HOUR CHART
  • Ford falling but has strong support at 50 Day SMA and 38.% Fib level.
  • One hour has fallen below the cloud and 200 Hour SMA. Price moving above 200 Hour SMA may lead to an up move towards the Hourly cloud.
  • Price sustaining below 200 Hour SMA should lead to 50 Day SMA. 
 
  • Smooth up move or up trend in Hourly charts of ES is getting tested.
  • Bears need price to fall below the shaded support level shown in 4 Hour chart. Hours trading below One hour cloud too may give a bigger dip in favor of bears.
  • SPX ANALYSIS AFTER CLOSING BELL
  • RIMM CHART UPDATE
  • FACEBOOK 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