S&P 500 Channel Update

• S&P 500 Continues its up move in a channel.
• Price doing sideways correction which are getting resolved in favor of bulls which will continue as long as price holds the support line of the channel.

GLD Trend Update

• GLD Daily is showing weakness near resistance line.
• Hour is yet to breakdown below 50 hour SMA which may trigger a sell in hour and daily charts.
• Hour staying above 50 Hour SMA will favor bullish trades in GLD.

US Dollar Support at 50 SMA

• 50 Day SMA and Horizontal support level has held for now.
• Price has to do a higher close for this bounce to sustain.

Bank of America Chart Analysis

• BANK of America at resistance levels.
• Week has to close above Upper bollinger band to continue the up move.
• Daily chart too is showing a possible resistance level which should be taken out by bulls to continue the up move.
• Breaking the daily channel may give a correction for BAC.
• DOW JONES ANALYSIS AFTER CLOSING BELL
  

SPY Fibonacci levels

• SPY Weekly chart with Fibonacci levels.
• Price sustaining above 78.6% level will favor bulls.
• For bears price has to fall below this level for a correction to happen.
• DOW JONES ANALYSIS AFTER CLOSING BELL

Nifty intraday Update

• Nifty daily chart shows price entering the crucial level between golden ratio and 78.6% Fib level.
• Closing the day above 5099 will help bulls to extend the rally towards 78.6%
• 5150 - 5165 is a possible resistance level as shown in 2nd chart which bulls need to close above.

SBI Analysis Before RBI policy

 

• SBI nearing important resistance levels.
• Closing above yesterday's high will lead to continuation of this up move.
• Closing below 5 Day Low EMA will favor bears for a correction.
• Price also nearing 5 Month High EMA and channel resistance line which may act as resistance if the up move continues.
• SELLING ZONE OF NIFTY
  
• US DOLLAR TESTING 50 SMA
  
• DOW JONES EOD UPDATE
  

DOW JONES Analysis after closing bell

• Dow Jones daily chart shows a doubtful candle at horizontal resistance line.
• A safe sell will be possible only if price closes below 20 day SMA.
• Hour will be weak below 12665 and 20 Hour SMA. But the trend in hour will turn only below the cloud.
• BIDU IN A TRIANGLE
  

BIDU Triangle pattern

• BIDU in a triangle pattern.
• Price is nearing the apex of the pattern.
• Breakout from the pattern should sustain above 200 Day SMA for bigger gains.
• A pattern breakdown below 200 SMA should give an easy short trade.