September 16, 2013

  • Apple has violated 200 Day SMA. Bears need a daily close to confirm breakdown.
  • 4 hour chart shows price at 50% retrace level. Closing below this level should give the Golden ratio for apple bears. Price sustaining below the 4 hour cloud will also help apple bears.
  • APPLE Weekly bearish engulfing

  • Daily chart shows price testing crucial support zone in 50 Day SMA and daily cloud top.
  • 4 Hour chart shows price contraction which may lead to bigger move on a breakout.

  • ES 15 Minutes chart shows price in a range after a big up move. One hour chart shows Immediate support levels in case of a correction.
  • APPLE Weekly bearish engulfing


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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