DOW JONES Testing the trend line

• Dow jones four hour chart with the down trend line.
• Price is testing this trend line. If bulls are to extend gains they have to break this trend line convincingly. 
• Price consolidation here may result in a fall.

SPY - Bulls Trying to break the cloud

• SPY 4 Hour chart with the cloud
• Trend will turn in favor of bulls completely only if they manage to break the cloud and stay above it.
• Till that happen bears has the option of selling this rally.

SPY Violates the resistance level

• Price has violated the resistance level of 129.80 level.
• Now for bulls price should stay and close the day above 129.80 .
• Price falling below this level will favor bears

CISCO - Grave Stone Doji

• CISCO has given a Grave Stone Doji pattern.
• It's a Bullish reversal pattern. But needs price confirmation. In this case price movement is looking good for the bulls. Weekly close above the last weeks high will be good for bulls.
• Second chart too shows a bullish pattern. Break of the resistance line can give a rally.
• Price breaking below the grave stone Doji will favor bears

NIFTY Near Resistance level

• Nifty Knocks 5604 one more time.
• We have to see the price action here. Only a daily close above this level will confirm strength.
• ABOVE BROADENING PATTERN WAS SUGGESTED IN THIS POST
  

NIFTY Intraday Update

• Nifty moving up towards the resistance level of 5604 with an unfilled GAP.
• So if price struggles near 5604 level we may see a pull back towards the GAP.
• NIFTY WEEKLY CHART
  

NIFTY Weekly chart Analysis

• Price approaching its weekly resistance level.
• Recent attempts to stay above 20 week moving average has failed.
• So a bigger breakout cannot be seen unless price closes above 20 week moving average.
• Second chart shows stochastic turning in favor of bulls. Now if the corrections are not large price may continue to move up. 
• Lets wait and see how price reacts near 20 week moving average. 

SPY Selling Zone

• SPY Hour chart with the selling zone.
• 129.60 - 129.80 level is acting as resistance in hour chart.
• Daily close above this level may push price above this zone. Unable to cross this level will result in selling.