June 5, 2013



  • ES Four hour chart breaks crucial support levels.
  • Daily chart shows price approaching up trend line. For a bigger fall this line must break.



  • Apple weekly chart shows price unable to cross 23.6% Fib level.
  • Weekly chart also shows price getting support at 20 Week SMA.
  • Daily chart shows a possible inverted head and shoulders pattern. Bullish above 467 - 470 levels. Weakness on trading below 50 Day SMA.
  • ES CHART ANALYSIS
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  • ES testing crucial support level. Price in four hour chart is at 200 period SMA.
  • If the support levels hold a bullish pattern may play out.
  • More weakness on price falling below 200 Period SMA.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • Nifty nears its 50 Day SMA. Price is staying below 38.2% Fib level which is good for bears. Strength only on price staying above 38.2% Fib level.
  • Weekly chart shows bearish engulfing and sell signal. Further weakness on price trading below 5 Week Low EMA.
  • NIFTY 50 STOCKS LIVE CHARTS - 5 MINUTES TIME FRAME
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  • Today's up move got resisted at 20 Day SMA.
  • Price is moving in a bullish pennant like pattern. Bulls need a resistance line breakout to extend this up move.
  • Price closed above 38.2% Fib level. Rising 50 Day SMA and 50% Fib level are crucial  support if price falls.
  • BULLISH ENGULFING COCA COLA
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  • SPY Testing 200 Hour SMA again.
  • 4 Hour chart shows price testing 38.2% Fib level. If this level does not hold price could fall towards the GAP and Golden ratio.
  • Second chart shows triangle breakdown and the retest of the support line resulting in a fall.
  • For bulls of SPY Price has to move back above 200 Hour SMA to avoid a bigger fall.



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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