Stock Market Chart Analysis

April 7, 2011

ES Hour chart with 200 Hour moving average.
Dip in price took support exactly at 200 Hour moving average.
So Bears must break this moving average on closing basis for changing the trend.

Google daily chart with 50 and 200 day moving averages. Price seems to be moving withing these two moving averages. So a bigger move will happen once this range gets broken.
Next daily chart shows a descending triangle kind of pattern. One should look for a breakout from this pattern and confirm it with a break above 50 or below 200 to enter a positional trade.
Today is the first birthday for my Blog: CLICK HERE TO SEE THE BIRTHDAY POST

I started this blog on April 7 2010 (MY FIRST POST).
I was a frequent visitor to JUST NIFTY and liked Masters Dedication and Knowledge of the Market which inspired me to start my blog.
I have to Thank Ilango Sir for being the first one to comment on my blog, Which inspired me then to continue, and sometimes when my traffic goes down i use to visit my first post which gives me strength to go on. Thank you sir.
Thanks to all JN Friends for the support.
Thanks to all my Blog partners. Special thanks to Tim Knight of Slope of Hope and Red Drago Leo.

UPDATED CHART

Apple daily time frame with Ichimoku cloud.
Last time Apple gave a breakout above cloud it was trading at around $260 level.
Now Apple is again testing the cloud.
Breakout above the cloud and 354 level can give fresh high's for apple.
Break and close below 326 can start a down trend in daily time frame.
ES IN A CHANNEL

ES Four hour chart is moving up in a channel.
Es may not face big correction till it break the supporting trend line of the channel.
ASCENDING TRIANGLE OF GOLD