September 22, 2013

 
 
  • IWM continues to breakout above the resistance levels in daily time frame. Daily cloud continues to act as strong support. 
  • Daily is moving up in a channel. Bullishness will be intact as long as price trades in side the channel.
  • JP Morgan Weekend update
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  • JPM Daily chart shows strong resistance at 50 Day SMA.
  • Daily cloud too is acting as resistance. Weakness on falling below 52.53 and Possible breakdown on closing below 52.08 levels. Strength only on price closing above 50 Day SMA
  • APPLE Weekend update
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  • Blackberry broke down from another triangle pattern this time from a smaller pattern. Price in daily chart never recovered from the First breakdown which was bigger in size.
  • Sustaining below 8.57 Immediate target for bears is 7.46. Then if price continues to stay below 78.6% Fib level we may see a 100% reversal in blackberry towards 6.22 levels.
  • APPLE 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