- Daily chart is seeking support above 200 Day SMA. Friday's closing suggests a bounce is on in QQQ.
- Daily chart also shows an inside day pattern which will extend gains for bulls on trading above 68.33. For bearish moves price must sustain below 200 Day SMA.
- Weekly chart shows overbought indicators which is yet to give a breakdown. Price sustaining below 20 Week SMA may give a bigger breakdown.
- APPLE POSITIVE DIVERGENCE
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- CISCO Weekly chart shows a bearish MACD Signal.
- For bearishness to extend price has to break below the 38.2% Fib level which is acting as support as shown in second chart.
- If price sustains below 20 Week SMA it should move towards the lower bollinger band or the rising support line shown in last chart.
- APPLE POSITIVE DIVERGENCE
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- Weekly chart shows a long shadow which suggests buying at lower levels But weekly candle closed below 200 Week SMA which is negative for bulls of Gold.
- 4 Hour chart shows price getting resisted at 4 Hour cloud which has to be crossed for a bigger up move to happen.
- Monthly cloud may act as strong support level if the slide continues. Last test of the cloud happened in 2002.
- APPLE POSITIVE DIVERGENCE AND SUPPORT LEVELS
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- IWM Daily chart trying to stay above 100 Day SMA.
- 2nd chart shows the weekly channel and the resistance line of the channel acting as support. This line has to break for a bigger correction to happen.
- Weekly chart shows 20 Week SMA trying to give support.
- APPLE POSITIVE DIVERGENCE
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- Apple daily chart with RSI shows positive divergence.
- Weekly chart shows price testing lower bollinger band good place for a bounce before the next fall could resume.
- Monthly chart too shows price testing 50% Fib level.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- S&P 500 Channel support line acting as support. For bears need a channel breakdown to extend this correction.
- For now price has taken support at 50 Day SMA and the support zone between 1335 - 1340.
- Google daily chart retesting the 50 Day SMA.
- Price is rising from the crucial 100 Day SMA.
- Immediate resistance level at 4 Hour cloud. Unable to trade above the cloud or 50 Day SMA will be negative for Google bulls.
- MCDONALDS CHART ANALYSIS
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