January 19, 2016

  • Apple Month chart shows price falling towards the rising support line. For the current month candle the line near 84 levels approximately.
  • Weekly chart with Fib levels shows price at 50% retrace level. Close below this level may take price towards the golden ratio which is near the Monthly rising support line. So its crucial for Apple bulls to defend 50% Fib level.
  • Hourly chart with Ichimoku cloud shows a trending move. Bears need to sustain below the cloud to extend gains.

  • ES weekly chart with the topish pattern and possible targets if price stays below 1840 levels. For now a bounce likely if price stays above the support line of the bearish 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