January 24, 2013

  • APPLE Monthly chart shown with the up trend line near 460 - 470 zone.
  • Weekly chart shown with the same price zone.For bulls price should test this zone and get back above 100 Week SMA to close the week above 100 SMA. Closing the week below 100 SMA will attract more selling.
  • Month chart shown with price testing middle bollinger band. Price sustaining below 20 Month SMA too will attract more selling. 
  • DOW JONES TRIPLE DIVERGENCE
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  • For Bank of america crucial supports are the 23.6% Fib level shown in the last chart and the rising 50 day SMA at 10.72
  • Immediate support is the lower bollinger band. For Bulls Price Holding above the lower BB should attempt to move above 20 Day SMA for resuming the Up move again. 
  • Weakness on falling below 11.02 which may give targets of 10.95 and 10.72.
  • DOW JONES TRIPLE DIVERGENCE
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  • Microsoft nearing the Range Top.
  • Price is sustaining above 50 Day SMA which may help bulls with an upper breakout.
  • Weekly chart is shown with resistance at 100 Day SMA.
  • DOW JONES TRIPLE DIVERGENCE
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INTRADAY UPDATE
  • Price has broken below all support levels mentioned in the daily chart in the below post.
EOD UPDATE

  • HDIL Daily chart shows a high volume breakdown.
  • Price is back near crucial support levels in both weekly and Daily time frames. 50 Week SMA is getting tested a close below this level could take price towards the rising support line.
  • Daily chart also shows crucial support between 91 and 93 If not held price could target 86 levels.
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  • 30 Minutes continues to trend up above the cloud.
  • Weekly chart shown with possible target level near 1515 levels.
  • Weekly chart also shows the chance of a triple divergence which is stronger than the regular divergence if gets confirmed.
  • DOW JONES TRIPLE DIVERGENCE
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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