APPLE Triangle pattern

• Apple hour chart is showing a triangle pattern
• Daily is bouncing from 50 Day SMA So an upper breakout may result in good up move for apple.
• SPY CHART ANALYSIS
  

SPY Trend Update

• Price is stuck between 50 and 200 SMA. Larger move will happen once price gets out of this range.
• Price staying above 20 day sma will favor bulls.
• Price is also staying above 20 Week SMA. For bears price need to trade and close the week below 20 Week SMA for a bigger down move to happen.

ES Hour chart analysis

• Price should break and sustain above the drawn resistance line in first chart for this up move to continue.
• Price is staying above 50 Hour SMA. If price manages to break above 100 Hour SMA that will reduce the possibility of Head and shoulders pattern playing out.

NIFTY Analysis

• India VIX looks like it will give a good up move provided it break above 26 - 27 levels which was acting as support previously.
• For bulls price need to stay above the Ichimoku cloud and Week has to close above weekly middle bollinger band(20 Week SMA).