September 2, 2013

  • EURUSD Weekly chart shows weakness at 200 Week SMA.
  • Daily chart shows price near 200 Day SMA
  • One hour chart shows a bearish cross with 50 and 200 Hour SMA. Trend will continue to remain weak as long as price stays below 50 Hour SMA.
  • ES One hour chart shows price moving above the recent swing high.
  • Price is also trading above 200 Hour SMA in one hour time frame.
  • Next resistance levels is the Golden ratio shown in last chart. Bulls must sustain above Golden ratio to extend this up move.
  • S&P 500 Weekend update
  • APPLE Support and Resistance levels

  • NIFTY Week came back from the lows to close at 100 Week SMA and formed another Hammer.
  • Daily chart shows price closing above 5 Day High EMA with MACD ready for a bullish cross.
  • Last chart shows price near the falling resistance line from 6093 levels. Nifty must trade above the resistance line and close above 5528 for bulls to make progress.

  • Gold 4 Hour chart shows price getting support near 38.2% Fib level
  • Daily chart shows price trying to stay above 20 Day SMA. So for a bigger correction these levels must break.
  • Daily chart is moving in a channel and shows weakness as price nears the crucial 200 Day SMA. Price sustaining inside the channel will keep the Gold bulls interested.

  • Weekly chart of HPQ trying to stay above 38.2% Fib level and 100 Week SMA. Sustaining above these levels may result in a bounce.
  • Price have fallen below 50 and 100 Day SMA. Sustaining below these levels may lead to a bigger fall. So bulls must take price back above 100 SMA to avoid further correction
  • S&P 500 Weekend update
  • APPLE Support and Resistance levels


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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