March 6, 2015

  • ES 4 Hour chart shows price testing possible support zone.
  • Closing below this level and 23.6% Fib level will extend gains for ES Bears.
  • Price staying below 4 Hour cloud will also favor bears in the short term. 

  • Facebook Daily chart has given a Bearish PIN bar at range reistance level.
  • Weekly chart shows price right at the resistaoce zone.
  • Weekly MACD Looks good for bulls But price need to be above 82.17 on weekly closing to confirm Bullishness.
  • A bearish daily candle today may confirm weakness at range top.

  • Apple Daily MACD Confirms a sell signal
  • Price closes below 20 Day SMA
  • IF price stays below 20 SMA and 23.6% Fib level and extended correction towards 50% Fib level looks possible.
  • Weekly candles too look weak


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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