Dow Futures negative divergence

• Dow futures is developing negative divergence in hourly chart.
• But one more up move may be possible before it starts to correct.
• That move may coincide with Dow Jones cash index getting resisted at 10200 levels.
• S&P 500 SUPPORT AND RESISTANCE LINES
  

S&P 500 support and resistance lines

UPDATED CHART

• Hour Trend line has been violated
• If trades below the high of the day can give a good correction

HOUR CHART

• Possible support and resistance for S&P 500 index.
• Break on either side can give a minimum of 20 points.

S&P 500 Analysis after closing bell

WEEKLY LINE CHART

DAILY CHART

DAILY CHART

• The daily chart is still trading below 20 and 50 Day Moving average.
• The fib retrace level of 50% has been achieved at around 1071 and if trades above this level the next logical target should be the 61.8% retrace level at 1085.
• The weekly line chart is showing a channel formation. So any more upsides are possible on a break and close above the channel top line and the 50 week moving average will follow that.
• DOW JONES ANALYSIS AFTER CLOSING BELL
  

Dow Jones analysis after closing bell

WEEKLY CHART

DAILY CHART

HOUR CHART

• The weekly chart is looking like a triangle and the resistances in lower time frames are not working. So the 50 week moving average or the triangle can only stop the bulls now.
• The daily chart shows today's action finishing  at the 20 day moving average. Above 20 DMA it will try to go beyond 10200.
• The hour chart is showing a bullish crossover 20 crossing 50 hour moving average so this will add to the strength of the bulls.
• NEXT TARGET WILL BE THE 61.8% FIB RETRACE LEVEL CLICK HERE TO SEE THE CHART
  

THE WEDGE OF GOLD

• Gold chart is showing some correction from the recent historic high's
• The price may get support near the bottom line of the raising wedge.
• But in the long term gold is bearish. When i say bearish it's not going to come down in a hurry. 
• If the price moves within  the pattern for 2 to 3 months without breaking down it can even go to 1300 levels.
• When it breaks down from the wedge the correction is going to be a large one. Because the wedge patterns when it occurs in higher time frames they are very reliable.

Nifty futures week end update

NIFTY FUTURES HOUR CHART

• Nifty futures week has made a good closing
• Closing near the high of the week.
• Highest weekly close for nifty futures in recent times.
• I have also updated the bearish pattern that i posted during intraday.

Nifty futures forming a bearish pattern

NIFTY FUTURES HOUR CHART

• Nifty futures hour chart is forming a raising wedge like pattern.
• Break of the below trend line and an hourly close below 5336 will confirm it.
• If NF breaks 5370 resistance the pattern will become invalid.

Nifty futures weekly and hour charts analysis

NIFTY FUTURES WEEKLY CHART

NIFTY FUTURES HOUR CHART

• Nifty futures week chart is looking good till now if it ends like this the bullishness can be carried over to the next week.
• Nifty futures should trade above 5250 and 5270 region with good volumes since these two are resistance regions can pull the index down to lower levels.
• CLICK HERE FOR INTRADAY AND 5 DAY LIVE CHART FOR NIFTY AND ALL NIFTY 50 STOCKS
  

Apollo Tyres Ltd weekly trend line trade

DAILY CHART

WEEKLY CHART

• Apollo tyres is showing a break out in daily and weekly chart.
• The trend line in week chart has held the stock up.
• Try to enter the stock if it comes close to the trend line.
• CLICK HERE FOR INTRADAY AND 5 DAY LIVE CHART FOR NIFTY AND ALL NIFTY 50 STOCKS
  

Nifty daily chart analysis

• Nifty gave a break out but closing was negative.
• Current weekly candle is looking ok but if it closes lower with long upper shadow it will be negative.
• The line chart is still not showing a break out.
• Nifty futures yesterday showed a gravestone doji. So the bulls should try to give a bullish candle to reduce the bearishness caused by the doji. 
• DOW JONES ANALYSIS AFTER CLOSING BELL