SPY Intraday Update

• SPY 5Minutes chart is showing negative divergence
• trend line break may give a correction in favor of bears
• Price staying above the trend line may not do anything for bears

US Dollar Reverses to its 200 DMA

• US Dollar daily chart comes back to its 200 DMA.
• If this reversal is limited to 50% or 61.8% another up move will happen soon.
• Price falling more than the golden ratio(61.8%) will be negative for dollar.

SILVER Breaks 50 DAY SMA

• SILVER closes below 50 DAY SMA after many attempts
• Now Important levels for bears of silver to take out are 39.66 and 38.67
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

Nifty Futures intraday Update

• Nifty futures is near the middle of the range.
• If price gets resisted at 50 Hour moving average it will remain in this range with negative bias.
• Sustaining above 50 Hour sma may give 5070 NF.

RELIANCE Chart Analysis

• Reliance daily chart staying above 50 Day SMA Will favor bulls of reliance and the longs of Nifty.
• But indicators in daily chart is in overbought level. 
• An up move towards 859 level will take stock to the middle Bollinger band in weekly chart. Middle BB may act as resistance.
• Breakout and above 859 and a weekly close above that may give bigger up moves. If price goes to those levels one should also look for negative divergence in MACD which might hint of weakness at higher levels.
• GOLD MOVING TOWARDS THE TRNED LINE
  
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

S&P 500 Analysis after closing bell

• Weekly chart shows another attempt to stay above 100 week sma. Bullish attempts are being failed towards the end of the week for the past 5 times. It may happen again.
• IF price manage to stay above 200 hour moving average in hourly charts, price will favor bulls for sometime. Today's closing hourly candle looks negative but 200 hour sma may save bulls from a larger correction.
• Price may move towards the falling 50 Day moving average, we have the 50% Fib level too at this level which makes it a confluence of resistance which will be difficult to cross.
• GOLD MOVING TOWARDS THE TRNED LINE