March 8, 2015


  • SPY Daily chart shows price falling back into the range.
  • Price for now is above crucial moving averages like 50 and 100 SMA
  • Last chart shows Bearish MACD Cross. More weakness if 206 levels is broken on closing basis.
  • FACEBOOK Weekend update
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  • Pair continues to sell off as it nears the daily cloud.
  • Month chart looks set to break below 1.07 levels. Pair has already broken below Golden ratio. Now next target could be the 80% retrace level.
  • Bearish targets can be achieved easily if price remains below the daily cloud. Strength can be seen only if the Pair is able to move back above the daily cloud.
  • FACEBOOK Weekend update
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  • Apple weekly RSI and price shows good negative divergence favouring bears.
  • Bulls could not keep price above 20 Day SMA. Price made another close below this level.
  • If price stays below 23.6% Fib level then correction could extend towards 50% Fib level.

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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