June 24, 2013


  • QQQ Trying to reverse from the daily up trend line.
  • For bulls price need to do a close Back above 100 Day SMA and above 38.2% Fib level for an up move or bounce to happen.
  • SPY 5 Minutes chart shows immediate support and resistance levels.
  • Daily chart shows price testing 38.2% Fib level.
  • Bulls will remain weak below 100 Day SMA.
  • ES Daily moving away from 100 Day SMA and daily cloud.
  • 30 Minutes chart shows immediate resistance levels at the resistance line and the Cloud. Moving above these levels may result in a pullback in ES.
  • S&P 500 WEEKEND UPDATE
-->
  • Weekly chart shows price nearing possible support levels. Weekly stochastic is still moving down and if price does not show a turnaround the support line drawn in third chart may not hold.
  • India Vix is at possible range Top. Breakout in VIX may add strength for bears. Bulls need Vix to move down from 19.85 levels for a bounce to happen.
  • BANK NIFTY WEEKEND UPDATE
-->

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

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