October 20, 2013

  • JPM Weekly chart shows price nearing the broken resistance line which may act as resistance. 
  • Daily chart shows price testing the Golden ratio which has to be crossed for extending the current up move. Immediate support in daily chart is the 100 Day SMA. Closing below 100 SMA may result in a fall back to 50 levels again.
  • US Dollar Weekend update

  • Bank nifty Testing crucial resistance levels in 100 Week SMA and nearing 50% Fib level. Weekly MACD looks bullish and needs price to sustain above 100 Week SMA for extending this up move.

  • US Dollar Weekly chart shows price testing weekly support line.
  • Daily chart also shows price testing crucial support lines.
  • Last chart shows the Death cross in daily chart. US Dollar will continue to stay weak on sustaining below 50 Day SMA. 
  • SPY 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