- APPLE Monthly chart shows the Bullish Doji still valid But followup price action is sluggish. Price has to sustain above 465 for a bigger up move to follow.
- Weekly chart too looks bad for bulls. Up move from 385 has not moved up much while the indicators are fast reaching overbought which is usually bearish.
- Daily chart needs to hold above 50 Day SMA and Ichimoku cloud to avoid a bigger correction. First sign of weakness on daily close below 50 Day SMA.
- S&P 500 WEEKEND UPDATE
June 8, 2013
- SPX Week has formed a bullish hammer candlestick at the up trend.
- Immediate resistance in daily chart at 20 Day SMA. A daily close above 20 SMA will add strength for the bullish candlestick formation.
- Earlier bears needed a close below 5 Week Low EMA to weaken the prevailing trend which did not happen. Price managed to bounce and close near the high of the week.
- FACEBOOK TREND UPDATE