June 26, 2013

  • Apple monthly chart shows price nearing 50% Fib level for the rise from 78 to 705 levels.
  • Weekly chart shows price near 200 Week SMA.
  • Daily chart shows a possible Double bottom formation if the low at 385 is held.
  • ES Four hour chart shows price back to the support zone of the range.
  • Price is also nearing crucial fib levels.
  • Daily ichimoku cloud too may act as resistance for this up move.

  • Tata Motors came back to close inside the triangle pattern after a false breakdown.
  • Price has to close outside this pattern for a bigger move to happen.
  • Price sustaining below 200 Day SMA and the cloud means weakness. 





  • SPY 5 Minutes chart shows immediate support and resistance lines.
  • 30 Minutes chart shown with 50 period SMA.
  • Last chart shows price trying to stay above 23.6% Fib level. Weakness on price falling below this level.


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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