October 10, 2013

  • Google Daily chart has taken support near 840-850 support zone. This bounce is also from near the 200 Day SMA. Hour chart is nearing 50 and 200 Hour SMA which should be crossed to extend this up move.
  • DOW JONES Analysis after closing bell
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  • JP Morgan took support near 50 levels. Price is nearing falling resistance line and 50 Day SMA. JPM bulls need to close above 50 SMA to extend this bounce.
  • DOW JONES Analysis after closing bell
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  • ES violating crucial resistance levels.
  • Sustaining above the cloud may extend this bounce.
  • DOW JONES Analysis after closing bell
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  • ES one hour chart shows price nearing 200 Hour SMA. 4 Hour chart shows price has some more distance to go before it nears the cloud and 38.2% Fib level as shown in chart 2 and 3.
  • DOW JONES Analysis after closing bell
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  • Tesla daily chart shows price testing the crucial rising support lines. 50 Day SMA is getting tested after a long gap. Both Lower bollinger band and 50 Day SMA is trying to stop a bigger fall from happening. A Daily close below these levels may extend the fall.
  • DOW JONES Analysis after closing bell
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  • First chart shows Dow Jones Weekly chart testing the bottom of the range.
  • 2nd chart shows price testing the crucial 200 Day SMA. Last chart shows price closing back above 14760 level after an intraday violation of the crucial support level. Bears need a daily close below these two levels to extend gains.


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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