September 18, 2013


  • ES break above resistance levels



UPDATED CHART
  • Down Trend shown below in the hourly time frame has been broken by the news.
 
  • Gold one hour chart continues to break lower.
  • Trend line and cloud is acting as stiff resistance in hourly time frame.
  • SILVER CRUCIAL SUPPORT ZONE
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  • Monthly chart of crude oil shows price weakness just above the Golden ratio. Last two falls from this area has given sub 80 levels for Crude oil bears. 
  • Weekly chart too shows price getting resisted at the same area. Trigger for a bigger correction may happen once price starts to trade below 102 levels on closing basis.
  • SILVER CRUCIAL SUPPORT ZONE
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  • Apple up move getting resisted at 200 Day SMA. Second chart shows price has fallen back into the range from where a breakout happened. If price is unable to get back above 38.2% Fib level and the GAP Apple may extend correction.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • Daily chart shows price trying to stay above 50 Day SMA.
  • Price getting resisted at Golden ratio and Ichimoku Cloud.  Weakness on price closing below 50 Day SMA.
  • S&P 500 eod Update
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  • Weekly charts are looking good for extension of the primary trend which is up.  




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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