January 18, 2013

  • Price below 100 Day SMA. Sustaining below this level may lead price towards 696 and 682 levels.
  • Price closing below 696 could lead Google towards the rising trend line.

  • Weekly chart shows price breaking above 50 Week SMA and Weekly cloud.
  • Price must close the week above 50 Week SMA and the Weekly cloud for the up move to continue.

  • Silver daily chart nearing Daily cloud and 100 Day SMA.
  • Price nearing golden ratio.
  • For the up move to continue price must break above multiple resistance levels.

  • Daily chart nearing lower bollinger band.
  • Daily Fibs shows immediate support level at 38.2% Fib level.
  • Weekly fibs shows price testing Golden ratio. For bulls of BAC Price must close the week above 61.8% Fib level to avoid a bigger correction.

  • ES 4 Hour chart shows the resistance line which is holding bulls from making a bigger move.
  • Hour chart shows a small pennant. Blue lines shown in chart may act as support on a correction.
  • Last chart shows Fibonacci support levels in hourly time frame.
  • CITIGROUP Has broken below the range.
  • Price is testing 20 Day SMA and 23.6% Fib level. Holding above this level may see an up move back into the range.
  • Breaking below 20 SMA could lead to a GAP fill and test of 38.2% Fib level today.

  • STAPLES Chart violating the falling resistance line.
  • Price has managed to move above 200 SMA. Sustaining above this level should lead Staples to newer high's.
  • Next resistance is seen at the weekly cloud. A change of trend will be possible only on trading above the weekly cloud.

  • GLD Moving towards channel top in daily time frame.
  • Price testing 50 Day SMA.
  • Weekly chart is bouncing from 100 Week SMA. Price sustaining above 100 Week SMA should lead to a breakout above the falling resistance line.
  • Nifty 4 Hour chart shows price testing a resistance line. Bulls need price to sustain above this line to continue the up move. Weakness here may result in a correction towards the bottom of  the channel.
  • 5 Minutes chart shown with crucial levels for the day.
  • M&M Weekly sell signal

  • M&M daily chart shows support near 890 levels.
  • 100 Week SMA is at 879 and previous resistance level marked in chart at 880. These two levels may try to act as support if 890 gets broken.
  • Last chart shows a weekly MACD sell signal which will perform well if week closes below 20 Week SMA. 

  • Bidu shows weakness near falling resistance line and 200 Day SMA.
  • Death cross in daily chart will continue to favor bears at higher levels.
  • 103 and 99 are crucial levels to hold.
  • Strength above 117 levels.

  • ES Testing the resistance line of the channel.
  • Channel support line has been violated many times but the resistance line has held so far. Bulls must break above the resistance line if they are to continue this up move.
  • Daily close above the resistance line could result in a bigger up move


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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