Stock Market Chart Analysis

June 25, 2012

Price sustaining below the four hour cloud and 50 Period SMA should favor bears to extend the correction towards 50% and 61.8% Fibonacci levels shown in last chart.
SPY WEEKEND UPDATE

UPDATE - II

Channel resistance line discussed below has worked in favor of bears. If the channel support line or 100 Hour sma holds we may see an up move.
Breaking below both these levels could extend the fall.

UPDATE - I

Nifty hour chart shows price moving in a sideways channel. Channel has to be resolved on closing basis for bigger moves to happen
2nd chart shows price with 100 Hour SMA. Which is crucial for bulls. holding this level Nifty may try to breakout above this crucial resistance zone.
Breaking below 100 Hour SMA shall result in a breakdown.
NIFTY WEEKEND UPDATE

Both the daily charts are looking negative with price closing below 50 Day SMA and 20 Day SMA.
But weekly charts are still giving hope for bulls of reliance. Price need to trade above 715 levels for the weekly chart to stay in favor of bulls.
Week closing below 695 which is the 5 Week Low EMA will negative this bullish possibility
NIFTY WEEKEND UPDATE

Silver near crucial up trend line and Horizontal support levels.
If these levels are to be held we may see an up move in silver.
Daily chart will turnaround only on trading above 50 Day SMA which is a crucial resistance level.

Crucial resistance for SPY at 20 Week SMA (136.1 ).
Crucial support in daily chart is the 20 Day SMA. There is a stochastic sell signal in daily chart which will be effective on price closing below 20 Day SMA.
Weekly MACD Sell signal will be effective as long as price stays below 20 Week SMA. Bearishness can be negated if price starts to stay above 20 Week SMA.
IBM WEEKEND UPDATE

IBM Had a negative week.
But price is falling towards 200 Day SMA Which is near 190 and 50 Week SMA Which is at 187.
Weekly Lower bollinger band too is near the above mentioned levels.
Weekly chart is still maintaining a positive structure. The current Higher low may form at 50 Week SMA which can be buying opportunity.

Price closed the week above 5 Week EMA and 50 Week SMA thus sustaining momentum with the bulls.
Now everything again comes back to the crucial resistance levels between 5180 - 5210. Weekly middle bollinger band at 5200, 50% Fibonacci level at 5200, 100 Day SMA at 5197, and a crucial support resistance band near 5180. For bulls the bullish engulfing in weekly chart is still valid although it had not given a follow up price structure still looks good for bulls.
Daily close above 5200 will favor bulls.