October 8, 2013

FACEBOOK Trend update

  • Facebook 4 hour chart falling towards up trend line.
  • Price is sustaining below Hourly cloud and crucial moving averages in one hour time frame. Up trend line and 200 Hour SMA may be held for a bounce.

ES Violates support levels

  • ES Violates Golden ratio. Daily chart has broken the up trend line. ES bears need a daily close at these levels or lower for extending gains. 4 Hour chart is trading below 200 period SMA.

SPY Analysis after closing bell

  • SPY Multiple support levels. 100 Day SMA and Daily Cloud is yet to be tested. Intra week violations of these levels are possible. Only a weekly close below the up trend line will weaken the bullish case badly.