March 31, 2013

  • JPM Weekly chart has broken below 23.6% Fib level.
  • Immediate support levels are 46.85 and 20 Week SMA.
  • Daily chart with Ichimoku cloud shows the up trend getting tested. If the correction is limited to the cloud the up trend will be safe. For the trend to turn price must sustain below the cloud.
  • GOOGLE WEEKEND UPDATE
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  • Bank of america weekly chart shows a bearish engulfing pattern.
  • Daily chart is near crucial support levels like 20 and 50 Day SMA.
  • Bearish engulfing pattern will gain strength if price starts to trade below 50 Day SMA and the Golden ratio. So the level for bears to break is 11.73 on closing basis. For bulls they must protect 20 Day SMA for avoiding a bigger fall.
  • BLACKBERRY TRIANGLE PATTERN
  • APPLE WEEKEND UPDATE



  • Price managed to close above 200 Day SMA, This momentum may take price towards 38.2% Fib level or 100 Day SMA which may act as resistance in daily time frame.
  • Weekly chart shows  a MACD Sell signal. Price sustaining below the channel will add strength for the sell signal.
  • APPLE WEEKEND UPDATE
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SLV WEEKLY CHART
SLV DAILY CHART
SLV WEEKLY CHART
  • SLV Weekly chart with fib level shows price trying to stay above 78.6% fib level.
  • Next is the daily chart shown with the recent range. Price is violating or threatening to break the range on the downside.
  • Last chart the weekly time frame shows the crucial levels and possible targets in case of a breakout or a breakdown.
  • APPLE WEEKEND UPDATE
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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