SPY Trend Update

• Price is trying to move up in smaller time frames.
• But the bigger trend is still down.
• So Intraday longs will face selling pressure at higher levels.
• Price still below 50 period moving average and cloud so sell on rise.

QQQ 5 Minutes chart

• QQQ 5 minutes is in a descending channel pattern.
• Breakout with good volumes may give an up move.

CRUDE OIL staying below 50 DMA

• Crude oil is staying below its 50 Day Moving Average.
• Price fell below its support level of 94.63 and is likely to hit 89.60 levels.
• Bigger correction may happen only if price stays below 89.60.
• If price takes support here crude oil will stay in this broad range of 89 - 99 with 94 as the mean.

S&P 500 Violates previous support level

• SPX Violates 1249 level.
• Daily candle closing below this level will be perfect for bears to push price down further. 
• Closing below 1249 will make the reversal attempts hard to sustain.

S&P 500 Near previous support level

• SPX near 1250 level. Last fall of SPX took support at this level.
• Worrying thing for bulls is the price momentum.
• Price is also moving away from 200 DMA. Second chart clearly shows the last fall took place above 200 DMA. This time price has fallen below 200 DMA.
• So bulls need to get back above 200 DMA otherwise all bounces will get sold off.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

ES Weekly chart with Bollinger Band

• ES weekly chart with Bollinger bands
• Price has hit the lower bollinger band.
• Last fall in june was arrested by the weekly lower bollinger band.
• Week candle closing below the lower Bollinger band will help bears to extend gains. Week candle closing above lower bollinger band may give hopes for bulls for a bounce.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

Falling Wedge of SILVER Updated

CHART-II (UPDATED)

CHART-I

• Falling Wedge of silver has given good profits for bulls of silver.
• 41.40 levels may act as resistance now.

NIFTY Intraday Update

• Nifty is moving around the Golden Ratio. Next leg down will happen if this level does not hold. Closing below 5400 will make things easier for bears.
• We saw price staying below 50 Hour moving average yesterday. It continues to trend lower below this moving average.
• Bulls should hope for a close above 5450 at least.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

NIFTY Daily Analysis

• Nifty Staying below 5450 nifty is likely to test 5400 - 5410 levels today. Closing below 5400 - 5410 levels will favor bears for sometime to come. If nifty manage to Close above 5450 despite bad news then things might favor bulls.
• U.S markets have closed negative. Dow Broke 12000 level. S&P 500 closed below 200 DMA. 
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

S&P 500 Analysis after closing bell

• S&P 500 Breaks a major trend line in weekly chart.
• Price also closes well below the 200 dma.
• We shall see how SPX behaves the next support level which is 1230 - 1245 level. Things are likely to be easier for bears.
• ES RANGE BREAKDOWN TRADE