September 1, 2013

  • CISCO Daily chart shows price moving down in a channel
  • If the down move continues price may move towards 200 Day SMA and thus partially fading the GAP.
  • Weekly chart shows price closing below 20 Week SMA and 23.6% Fib level.
  • S&P 500 Weekend update
  • APPLE Support and Resistance levels
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  • Bank of America weekly chart shows the larger up trend still intact. The current fall looks like a correction in an up trend.
  • Daily chart shows price below 20 Day SMA which is the immediate resistance level. 50 day SMA and 13.98 level is the immediate price support zone.
  • APPLE Support and Resistance levels
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  • Apple weekly chart shows strong resistance at 100 Week SMA.
  • Immediate support at 23.6% Fib level and 20 Day SMA. Price closing below 23.6% will extend correction. Strength only on price closing above 100 Week SMA.
  • 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