January 17, 2015

  • Apple closed below 20 Week SMA.
  • Crucial levels for apple bulls to hold above are the Golden ratio in daily chart and previous resistance level of 103.74 shown in weekly chart. Bigger weakness if these levels are broken on closing basis.
  • BANK Of America Weekend update
  • SPX Analysis after closing bell

  • Bank of America has closed the week below Weekly ichimoku cloud.
  • Weekly chart shows a possible Double Top Pattern.
  • Weekly MACD shows bearish signals. This signal will strengthen if price starts to trade below 100 Week SMA and 14.36 levels.
  • SPX Analysis after closing bell

  • SPX Managed a bullish candle at lower Bollinger band. 38.2% Fib level too acted as support.
  • Price likely to move towards the 20 Day SMA in the very short term.
  • Price came closer to 200 SMA. For any bigger correction to happen this line must break.


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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