April 6, 2014

  • SPY Weekly chart shows price continues to remain in a range despite Friday's Down day.
  • 2nd chart shows crucial support resistance zone which must be broken for a bigger fall to happen. Last chart too shows crucial support zone in Weekly Middle bollinger band.

  • First chart shows a possible support zone between 53 and 54. Chances of price taking support here is low because of the strong downward momentum of the stock. 
  • Last two charts shows bearish events as price moves away from the cloud and 100 day SMA.
  • YAHOO @ 200 DAY SMA
  • YAHOO Testing crucial support levels in both daily and weekly time frames.


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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