March 26, 2013

  • Facebook daily chart shows price breaking crucial fibonacci levels.
  • Last chart shows price testing crucial support levels. 
  • Hour chart shows  a possible falling wedge pattern.


  • Apple daily chart is near its Ichimoku cloud which is expected to act as stiff resistance level for bulls.
  • Price is also near 78.6% Fib level which is a possible resistance level.
  • For bulls price is sustaining above 50 Day SMA. For a correction needs price to close back below 50 Day SMA.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
  • BLACKBERRY CHART ANALYSIS
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  • Blackberry weekly chart is moving towards the rising support line from 6.22 levels. For a correction this level must break.
  • Daily chart too has closed below 50 Day SMA following the bearish engulfing pattern. Now price will seek support at 100 Day SMA.
  • For any big up moves or a reversal of trend price must trade above 100 week sma shown in last chart.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • First chart shows price breaking the crucial rising support line in weekly time frame.
  • Daily chart shows price below 200 Day SMA.
  • Possible support levels are 50 Week SMA and 38.2% Fib level.
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  • Weekly chart with RSI shows the Indicator continues to stay above the 70% line.
  • Weekly chart with MACD and price shows no weakness yet. Price breaking the trend line may give a sell signal.
  • Daily chart continues to stay in a range 1538 - 1564. Price closing below 20 SMA and the range may give direction for bears of SPX.
  • ES DIAMOND BREAKOUT FAILURE
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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