May 10, 2016

APPLE Chart update

  • Weekly chart shows a descending triangle kind of pattern which is bearish. Week or daily closing below 92 may trigger a bigger correction for the stock. Month chart shows possibility of price testing the rising support line if 92 is broken

ES Analysis before opening bell

  • ES Bulls trying to protect 50 Day SMA.
  • 4 Hour chart shown as immediate resistance.
  • Bigger weakness only on a daily close below 50 Day SMA.