September 28, 2013

  • Dow Jones Weekly chart shows a shooting star candle and a follow up bearish candle.
  • Daily chart is at crucial levels. Sustaining below 50 and 100 SMA could bring down prices towards the support line shown in second chart.
  • S&P 500 Weekend update
  • Crude Oil Month chart shows Weakness at Golden ratio. Twice before this setup has given good trades for Crude oil bears. Weekly chart shows price testing crucial support at 102 levels. Daily chart is trading below the cloud. Sustaining below the cloud means weakness. Closing below 102 levels may extend the fall. 
  • S&P 500 Weekend update

  • Charts shows weakness and bears may gain strength on price closing below 20 and 50 Day SMA.
  • Setup in Weekly chart suggests a likely correction towards middle bollinger band before price move up again.
  • CRUDE Oil at support zone

  • Crude oil testing crucial support zone. Bigger correction only on breaking below 102 levels


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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