June 17, 2013

  • Google one hour chart shows price near Golden ratio and price resistance area of 890 - 891.
  • Crucial support at the hourly cloud. One of these levels has to break for a bigger move to happen.
  • APPLE FALLING WEDGE PATTERN
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  • ES back to 100 period SMA of four hour chart which has acted as a stiff resistance level for sometime now.
  • One hour chart shows a bullish possibility But price must sustain above 50 Hour SMA. Weakness on price falling below 50 Hour SMA.
  • S&P 500 WEEKEND UPDATE
  • BLACKBERRY WEEKEND UPDATE
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 4 HOUR CHART
  • Apple one hour chart shows a falling wedge pattern. Price holding above the support line should give a breakout towards 445 levels.
  • Price must sustain above 50 Hour SMA for a bigger up move to happen.
  • Last chart shows fib levels in 4 Hour time frame. For bulls price must move above 38.2% Fib level for a possible target back towards 23.6% Fib level. Breaking below 50% Fib level means weakness.
  • BLACKBERRY WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
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  • For BN bulls immediate resistance levels are the 5 Day High EMA and the falling resistance line.
  • Having broken below the daily ichimoku cloud the up move to break above the cloud will also be challenging.
  • For bears breakdown level is the 50 Week SMA shown in last chart.


  • Daily chart shows Friday's up move getting resisted at 50% Fib level. 50 Day SMA too is acting as resistance, Bulls were unable to make a close above 50 Day SMA.
  • Weekly chart still shows hope for bulls to move up towards the upper resistance line of the triangle provided price stays above 13.5 levels. 
  • Weakness on price trading below 13.3 - 13.5 level.
  • S&P 500 WEEKEND UPDATE
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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