February 25, 2016

  • ES may move sideways between 1880 - 1945 for sometime before making a big move.

  • Nifty one hour has reached previous support zone at 6961. 5 Minutes chart too continues to trend below the cloud. If a reversal is to happen from this level price will break back above the 5 Minutes cloud. Otherwise the recent low of 6869 is likely to get tested again.

  • Nifty one hour chart shows price near 6961 which is a crucial number for bulls to hold above. Violation of it could lead to a test of the recent lows. 
  • Its a strong trend even in the smallest of time frames. 5 Minutes trending below the cloud. Bulls need to break above it to arrest the fall. 
  • Strength if stays above 7031. Weakness below 6998 as shown in 5 Minutes chart.
  • S&P 500 Analysis after closing bell

  • SPX One hour took support at 200 Hour SMA. 1830 The reversal area is marked as immediate support zone. Hour likely to remain in a range between 1830 and 1950. Daily chart too shows a cluster or resistance at 1950 levels with 50 Day SMA and 50% Fib level.


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"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