April 18, 2013

  • 50 Day SMA is acting as resistance.
  • Daily chart is testing 38.2% Fib level.
  • Price is also near 100 Day SMA. Further down moves on price closing below 100 Day SMA. 
 
  • Apple Monthly chart with Fibonacci levels for the Rise From  78 to 705 level shows price testing 50% Fibonacci level.
  • Monthly candle is also nearing 50 Month SMA.
  • Bigger time frame is approaching crucial support levels. Some more downside looks possible before a bigger bounce could happen.
  • APPLE INSIDE DAY FORMATION
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  • BAC Managed to close above 100 Day SMA.
  • Week shows  a MACD Sell signal.
  • Last chart shows immediate support levels
  • Apple monthly chart shows a continues down move towards Monthly Lower Bollinger band. If the trend in daily chart does not get weak price should target the levels mentioned in monthly chart.
  • Daily chart is trending down below the Ichimoku cloud. Trend in daily time frame will become weak on trading above the cloud. Price getting resisted at the cloud will result in further breakdowns. 
  • Daily chart shows a head and shoulders breakdown. The neck line of 419 will act as immediate resistance for any up moves.
  • APPLE INSIDE DAY FORMATION
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  • ES continue to hold above the crucial support zone shown in four hour time frame.
  • Price also trying to stay above 50 Day SMA.
  • Above mentioned levels must break on closing basis for a bigger down move to happen.
  • APPLE INSIDE DAY FORMATION
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  • TCS is showing a mixed picture. Weekly candle is near crucial support levels like 20 Week SMA and 38.2% Fib level as shown in the first two charts.
  • But weekly MACD is not looking good for bulls. 
  • If a GAP up happens it may get faded before the end of the day. Sustaining below the support levels may result in further breakdown.




 
  • SPX Bearish candle closed near crucial support levels.
  • Price has to break and close the day below 1538 and 50 Day SMA to confirm short term bearishness.
  • Price taking support inside the ascending channel will favor bears to resume the up move so for bears price has to break the channel support line to extend this down move
  • APPLE INSIDE DAY FORMATION
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  • EURUSD Getting resisted at 100 Day SMA. Price is also getting resisted at the daily ichimoku cloud.
  • Daily close below 200 SMA will be followed by more falls.
  • Last chart shows one hour with an expanding triangle. Price near the support line which may lead to a bounce.

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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