January 14, 2013

  • Bidu near Horizontal and Falling resistance lines.
  • Price also testing 200 Day SMA.
  • Multiple resistance levels may give a correction in favor of bears.
  • Daily close above 117 levels may confirm strength and a bigger pullback may happen.
  • S&P 500 WEEKEND UPDATE
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  • Citigroup Weekly chart shows a Cup and Handle breakout with a possible target of 47 levels. But Bulls must cross the Monthly Upper bollinger band at 42.87 and 78.6% Fib level at 45.14 to achieve the pattern target.
  • RIMM WEEKEND UPDATE
  • BANK OF AMERICA WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
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  • HP Violating weekly down trend line as shown in the first chart.
  • Immediate resistance or target is the Weekly Upper bollinger band.
  • 20 and 100 Day SMA should act as support as shown in the last chart.
  • RIMM WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
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  • TCS Daily chart shows resistance at 1348 level
  • 1348 is also the Golden ratio as shown in the second chart.
  • Last chart shows a possible resistance line which may come into play if price decides to spike above 1348 level.
  • ACC TRIANGLE BREAKOUT FAILURE
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  • ACC Shows a failed triangle in daily time frame. Price getting back into the pattern resulted in a quick fall.
  • Second chart shows price testing crucial support levels. Trading below 1351 stock could test the 200 Day SMA at 1320.
  • Last chart shows weekly time frame with fib levels and daily cloud which may act as support on a bigger fall.
 
  • NFLX Golden cross continue to do well for bulls.
  • Price is approaching crucial resistance levels.
  • Second chart shows Weekly candle near Golden ratio. Price sustaining above the rising trend line should lead to a breakout above the golden ratio.
  • Month chart shows price nearing 20 Month SMA AT 108 levels. Bulls need to trade above these two levels two extend the current up move.
  • S&P 500 WEEKEND UPDATE
  • RIMM WEEKEND UPDATE
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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