April 7, 2013

  • IWM Weekly chart shows support line break. Weekly MACD sell signal will extend the fall.
  • Immediate support levels are 23.6% Fib level and 20 Week SMA.
  • Daily Chart shows price near crucial support and resistance line. A Daily close below 419 will extend gains for Apple bears, Price may fall below 400 levels. For apple bulls need a close above the resistance line with good volumes on Monday which may also make Friday's candle a short term reversal candle.
  • Second chart shows weekly time frame giving another beautiful bearish cross, 20 Crossing below 100 SMA.
  • Last chart shows the MACD Histogram and price Diverging positively But MAC Lines are not looking so bullish. Blue is line is moving down from red line which will avoid a bullish cross and more down moves could happen.
  • Facebook testing multiple resistance levels.
  • Daily closed below 50 Day SMA After getting tested.
  • Same is with weekly chart with 20 Week SMA.
  • Daily close above 50 Day SMA and 38.2% Fib level may 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