July 8, 2013

 
  • EURUSD Daily chart near crucial support level.
  • 4 Hour chart is yet to reverse the trend. Price still below the falling resistance line and 50 period SMA.
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  • ES one hour and 4 Hour chart shows Immediate resistance levels or targets for the current up move around 1645 - 1650.
  • Daily chart sustaining above 50 Day SMA will favor bulls for bigger up moves. Weakness on price falling back below 50 Day SMA.
  • FORD MOTOR WEEKEND UPDATE
  • BANK OF AMERICA WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
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  • Nifty daily chart shows price pausing near 50% Fib level and 50 Day SMA. These levels must be crossed for the next target which is the Golden ratio(61.8%).
  • 5 Week High EMA at 5924 is also a crucial area to cross for increasing bullish momentum in weekly chart.
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  • ES 4 Hour chart has moved above the crucial resistance line and above 78.6% Fib level.
  • Daily chart has violated 50 Day SMA.
  • Its not looking good for bears but only a closing value like a close above 50 Day SMA will turn the momentum in favor of bulls.
  • BANK OF AMERICA WEEKEND UPDATE
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  • Bank of America Weekly chart shows price moving up from the up trend line.
  • Second chart shows price above the triangle pattern. More strength for bulls on price trading above 13.1 levels on closing basis.
  • Daily chart has also managed to close above 20 and 50 Day SMA. Sustaining above these lines will favor bulls of BAC.
  • FORD MOTOR WEEKEND UPDATE
  • S&P 500 WEEKEND UPDATE
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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