Stock Market Chart Analysis

June 10, 2013

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SBI Weekly chart shows price trading below the up trend line.
Price nearing its crucial support level of 1976 and Weekly Lower Bollinger Band. If 1976 gets broken bigger falls can be seen in SBI
Daily macd is starting to look good for bulls. But price unable to trade above 5 Day High EMA will be negative for SBI Bulls.
NIFTY WEEKEND UPDATE

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QQQ Daily chart shows price near resistance line.
Price also testing 20 day SMA.
Price sustaining above 23.6% Fib level may result in a breakout above 20 day SMA and falling resistance line. Weakness on falling below 23.6% Fib level.
S&P 500 WEEKEND UPDATE

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Weekly stochastic sell signal and bearish engulfing will favor bears to extend gains.
For bulls though if 50% Fib level and 20 Week SMA gives support a bounce is likely. More weakness below 5850 levels. Strength only on sustaining above 5970.
S&P 500 WEEKEND UPDATE

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APPLE Monthly chart shows the Bullish Doji still valid But followup price action is sluggish. Price has to sustain above 465 for a bigger up move to follow.
Weekly chart too looks bad for bulls. Up move from 385 has not moved up much while the indicators are fast reaching overbought which is usually bearish.
Daily chart needs to hold above 50 Day SMA and Ichimoku cloud to avoid a bigger correction. First sign of weakness on daily close below 50 Day SMA.
S&P 500 WEEKEND UPDATE

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SPX Week has formed a bullish hammer candlestick at the up trend.
Immediate resistance in daily chart at 20 Day SMA. A daily close above 20 SMA will add strength for the bullish candlestick formation.
Earlier bears needed a close below 5 Week Low EMA to weaken the prevailing trend which did not happen. Price managed to bounce and close near the high of the week.
FACEBOOK TREND UPDATE

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