November 3, 2013

  • Groupon Weekly chart shows a bullish Hammer. Hammer pattern needs confirmation. Price is trading below 20 Week SMA. Weekly close above 20 SMA should given an up move towards 12 levels again.
  • Weakness again if price breaks below 8.98 levels. Below 8.98 price may fall to the weekly up trend line.
  • IWM Weekend update
  • INTEL Shooting Star Candlestick pattern
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  • IWM Correction in weekly chart is happening in a bullish channel. Bigger corrections will not be possible till the channel holds.
  • Daily MACD shows a sell signal which may take price towards the channel support line again. Price closed at the 20 Day SMA on friday. If price starts to trade below 20 SMA, IWM should fall towards the support line.
  • INTEL Shooting Star Candlestick pattern
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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