June 8, 2010

Dow jones 5 minutes chart in a triangle


  • This triangle Break out can give at least 100 points 
  • But remember triangles are known for their false break outs.

DOW JONES Pennant formation

  • Dow jones pennant formation in 5 minutes chart
  • Upside break out can take it pass 9900. Stop loss 9840

SP 500 Pattern that will decide the direction

Dow Jones 2 hours chart in a triangle

  • Dow jones Trading in a descending triangle pattern.
  • Break out on either side with volume can push the index more than 100 points in the direction of the break out.

NASDAQ 100 Head and shoulder update

DOW JONES positive divergence in hourly chart

  • Dow jones is showing positive divergence in hourly chart.
  • So a dead cat bounce can be expected.

DOW JONES analysis before opening bell

  • Dow jones broke the weekly trend line at 10690.
  • And now there is a horizontal line drawn in the chart the value is around 9770 Below 9770 the targets are 9600 and 9500.
  • If the horizontal line gives support a rally is possible in dow jones

NIFTY 5 minutes chart with trend line

  • Take a short trade if the trend line breaks and price falls below the horizontal line.

NIFTY Hour chart showing next support


  • Nifty hour has broken a channel formation.
  • Next target is 4962.
  • It has to close above 5031 or come down to 4962

NIFTY Hour chart showing next support

  • Nifty hour has broken a channel formation.
  • Next target is 4962.
  • It has to close above 5031 or come down to 4962

Nifty Hour chart resistance zone

  • Nifty has resistance at 5080-5100 
  • This area is the break down area for the rising wedge break down.

Nifty daily chart analysis before opening bell


  • DOW JONES Closing price is the lowest close for this year
  • The inverted head and shoulders pattern in nifty might save the bulls.
  • But in the bearish view we have a break down from a rising wedge targeting at least 4800.
  • crucial fibonacci levels are 5020 and 4930 that is the 38.2% retracement and 23.6% retracement which may give support

Dow jones analysis after closing bell

  • Dow jones has created a new low for this year.
  • There was a bearish flag pattern in Hourly chart. And it broke and closed near the low part of the day.
  • 9850 is broken we may head lower at around 9700

NASDAQ 100 Head and shoulders Break down

  • NASDAQ 100 index is showing a break down from a head and shoulders pattern.
  • Staying below 1800 the index may target 1750 at least