AMAZON Chart Analysis

• Amazon weekly chart shows price taking support at the support line of a broadening pattern. If the support line of this pattern holds we may get a bounce in Amazon.
• One thing to note is that price is yet to hit the long term trend line of Amazon.
• Daily chart shows positive Divergence. For this to be effective price should trade above 20 Day SMA, For a bigger bounce 50 Day SMA too has to be taken out.
• S&P 500 WEEKEND UPDATE
  

S&P 500 Weekend update

• Price Moving down towards the base of the triangle in daily time frame.
• Week candle closed above 100 Week SMA. If 100 Week SMA is protected by bulls we may see an up move.
• Price closing above 50 Day SMA will give an up move towards the resistance line of the triangle pattern or the 200 Day SMA.

SPY Filling the GAP

• SPY has partially filled the GAP between 120.80 to 123.22
• So an up move might happen only after filling this GAP fully.
• GAP will be filled near Golden ratio(61.8%) So chances of  a bounce from near this level is high.

SINA Chart Analysis

• SINA Month chart shows possible support between 47 - 49.50. Price closing below 47 will extend this correction.
• 2nd chart shows price falling into the Multi-year  Trading range from were SINA gave a breakout.
• If 47 levels does not hold on closing basis Price may move towards the lower end of the range shown in 2nd chart. 59 Now becomes a resistance level.
• APPLE CHART ANALYSIS
  

APPLE Chart Analysis

• Apple's Indicators in daily chart is hinting of the current correction getting extended possibly towards 200 SMA or towards the weekly trend line.
• For Bulls price has to close above 20 Day SMA. Price sustaining below 20 SMA on closing basis will extend this correction towards 200 Day SMA.

ES Resistance line and Trend update

• Price is near a resistance line in four hour time frame. This line has acted as stiff resistance so far.
• Moving averages are showing a bearish setup. Price continue to sell off from 20 Period SMA.
• If price manage to stay above the resistance line we may see an up move towards 50 SMA.
• Bearish candles near the resistance line will lead to another fall.

NIFTY Hour Trend update

CHART-II

• Nifty got resisted at 50 Hour SMA. It continue to break all support levels. Sustaining below 4639 will lead to deeper cut. 

CHART-I

• Nifty hour stuck between 20 Hour and 50 Hour SMA.
• Once this range gets resolved price may move to the next resistance levels like 4840.
• Closing below 20 Hour SMA will keep bears interested.