- Month Chart shows no weakness. Its been 14 Months since price broke below the Low of the Month.
- One note of caution is the Extreme overbought readings shown in Monthly RSI. Right now the reading is 82. But it has been like that for Many months now.
- The Last week of 2017 is hinting some weakness. Previous Week was a Pin Bar like candle which got follow up in the current week. Bears need to break below 2650 levels to target 2600 and below.
- ES One hour and 4 Hour bearish charts
December 31, 2017
December 30, 2017
December 29, 2017
December 28, 2017
December 25, 2017
- Daily chart shows the steady up move of Apple. Price pausing at the latest resistance zone around 176. Another up move is possible on crossing this zone. But the Weekly chart shows price close to the resistance line. Weakness near the resistance line may give quick gains for Apple bears.
- Weakness can be confirmed if price falls below the cloud on 4 hour chart. If this happens a Down swing is possible. Staying above 176 will continue to favour bulls.
December 21, 2017
December 20, 2017
December 19, 2017
December 17, 2017
December 16, 2017
- Weekly chart is shown with MACD.
- The reversal Marked with Alphabet A is a straight forward reversal. But This time price action looks like the 1 2 3 Reversal shown on the left hand side. Remember its only similar , It may not be exact. In short we are looking at a possible Triple negative divergence before a major correction could start.
- Gold Hour shows bullish price action.
- Hourly cloud is the crucial support for this bullish swing. Close below the cloud will negate this bullish move.
- Weekly bollinger band shows price bouncing from lower BB. If weekly high's are broken price may target the Middle BB.
December 15, 2017
- Bounce from 200 SMA is helping bulls for now. But Bulls need to get back above hourly cloud to stop a bearish reversal from taking place. Bears need to keep price below hourly cloud to resume correction. Bigger fall only on hour closing below 200 SMA.