- SPY Weekly indicators are looking good for bulls to extend this gains.
- Price is about to enter resistance levels between 123 - 126 if it goes up some more.
- If price stays above 126 levels then weekly indicators will completely turn in favor of bulls.
- For bears the weekly middle Bollinger Band (20 Week SMA) and the daily Ichimoku cloud should help. If these levels are taken out then bulls will be stronger.
- S&P 500 WEEKEND UPDATE
- Hathway cables weekly chart shows Big increase in volume and price.
- Last week This stock traded 13.52 Million shares while the previous week was only 0.25 Million.
- Price is approaching resistance levels 126 and 138 Also the weekly ichimoku Cloud. We might see some profit booking at these Levels
- TATA MOTORS ANALYSIS
- Staying above 1230 Bulls can extend this up move towards 1250 levels. If it is retracing the breakdown from rising wedge It may go higher towards 1300 levels before the big fall.
- For bears they have to protect this level between 1219 - 1230 level and push price below 1202 for a bigger fall to happen.
- GOOGLE CHART ANALYSIS
- Immediate resistance levels for tata motors are 185 and the zone between 210 - 216 level.
- Price is also closing in on month High EMA. A bigger rally is possible only once price manage to close above month high ema.
- Weekly cloud and Month High EMA may act as resistance levels in the short term.
- Crude oil hits the resistance line in daily chart.
- If price shows weakness here without breaking above the trend line crude oil will start to fall.
- Breakout from trend line will find it hard to cross 89 - 90 levels.
- Google is approaching its resistance line in weekly chart.
- Second chart shows today's GAP. This gap may not get faded right away. Price may continue towards the resistance line and the correction from there may fill this GAP.
- ES Daily is about to hit its 100 SMA
- Price is trying to move above the cloud.
- so for bulls price has to stay above the cloud and 100 SMA. Closing the daily candle above the cloud and 100 SMA will lead to a sustained up move.
- For bears price has to fall back into the cloud and break below it.
