August 2, 2011

S&P 500 Near the Weekly support line

  • SPX about to hit the support line of the weekly wedge.
  • Price staying below 200 DMA.
  • If price gets support at the weekly trend line we will see a good bounce from this level
  • Breaking the support line will favor bears.
  • ES RANGE BREAKDOWN TRADE

ES in a range

CHART-II(UPDATED)
  • Range Breakdown has given good profits for bears.
CHART-I
  • ES 15 Minutes is showing a range of 1266 - 1285 with 1275 as the middle point.
  • Breakout or breakdown may give good direction.

NIFTY Trend update

  • Nifty hourly trend analysis
  • price is staying below 50 Hour and 200 Hour moving average.
  • Price staying below 50 Hour moving average will help bears to push prices down.
  • Things will favor bears till price stays below 50 Hour moving average.

NIFTY Analysis

  • Click the charts to enlarge.

SPY Trend Update

  • 30 Minutes chart shows a smooth down trend in progress.
  • Price closing above 50 period moving average in this time frame or cloud breakout can change the trend.
  • AMAZON MOVING UP WITH NEGATIVE DIVERGENCE