June 6, 2013

  • Apple one hour chart trades below 200 Hour SMA.
  • Daily chart testing 38.2% Fib level and 50 Day SMA. Bigger falls on a daily close below these levels.

  • ES Four hour chart shows price sustaining below broken support levels. Price sustaining below 200 period SMA will extend gains for bears.
  • Price yet to test the daily up trend line. 

  • First 3 charts shows levels which could act as support for an up move to follow.
  • If those levels are not held immediate targets are shown in the last chart with Fib levels and 200 Day SMA.

  • SPX Near 50 Day SMA.
  • Weekly chart near crucial support line from 1398 levels. 
  • Weekly trend line has to break for a sell signal to be confirmed and a bigger correction to follow. 

  • Apple hour chart trying to stay above 100 Hour SMA and one hour Ichimoku cloud.
  • Fib level shows a range between 50% and 78.6% Fib level. If the current support levels holds an up move towards the top of the range may happen. Price closing below 50% Fib levels may give a fall towards 430 levels.


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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