February 24, 2013

 

  • Crucial support levels for Facebook at 20 Week SMA and 38.2% Fib level
  • 50 and 20 Day SMA is converging this area will act as stiff resistance level on up moves.
  • GLD WEEKEND UPDATE
  • SPX ANALYSIS AFTER CLOSING BELL
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  • First chart the daily time frame of C shows a false breakout which usually ends up giving a good trade on the opposite side.
  • Here 50 Day SMA may give support for bulls. Bears must break this level for targeting the GAP shown in the first chart.
  • Higher time frame shows weakness at 78.6% Fib level. Bulls must cross this level to negate the weakness of daily time frame.
  • SPX ANALYSIS AFTER CLOSING BELL
  • APPLE WEEKEND UPDATE
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  • First chart shows crucial support lines in weekly chart. Holding above them price should make newer high's. 
  • Daily chart too shows price getting back above the Crucial 20 Day SMA. Bears needed a close below this level to push prices down further.
  • Now for bears need price to fall below 23.6% Fib level for a bigger correction to happen.
  • GLD WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • FORD Motor Weekly MACD Getting ready for a sell signal. Price yet to test the rising trend line which may act as support if the fall continues.
  • Daily chart shows price trying to take support at the base of Ichimoku cloud. Looks like a small hammer which may give a bounce
  • Last chart is the weekly time frame with immediate support level of 20 Week SMA and 100 Week SMA. Breaking these support levels will add strength to the sell signal. Holding above them may lead toward 14 levels again.
  • GLD WEEKEND UPDATE
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  • APPLE First chart is the Weekly Time frame with 5 Week HIGH EMA. Only a weekly close above this moving average would confirm a weakening of the larger Trend.
  • Other two charts Week and Daily are showing Positive Divergence But price yet to show strength. 100 Week SMA and 50 Day SMA are crucial resistance levels in those time frames.
  • During Strong trending phases Divergences takes longer time to take effect that's what happening to apple now. 
  • SPX ANALYSIS AFTER CLOSING BELL
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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