May 5, 2012

Green Mountain Coffee Inc Chart Analysis

  • GMCR Descending triangle and Range breakdown shows a possible target below 10.
  • Stock gaped down with Huge volume. Previous GAP happened on relatively low volume compared to the recent gap. Gap fading will be tough this time due to high selling volumes. 

SPY Weekend update

  • SPY Month chart is showing bearishness near the top bollinger band. Crucial support levels in month chart are the April Month low - 135.76 and the March Month low - 134.36.
  • Weekly chart has given a MACD sell signal. For bears to extend the fall price has to trade below 20 Week SMA.
  • Daily chart shows multiple levels which may give an oversold bounce - Lower Bollinger band, 100 Day SMA and the Swing low 135.76 - 135.94.

S&P 500 Analysis after closing bell

  • SPX Daily closed below 50 and 20 day sma. These two moving averages does a  bearish cross as well.
  • Next crucial support levels are near 1357 - 1358 level. Daily chart has a possible Head and shoulders pattern which has not given a breakdown yet.
  • Weekly candle looks almost like a bearish Engulfing pattern. Trading below 20 week SMA will favor bears to extend this fall.

Dow Jones chart Analysis

  • Dow jones near the support line.
  • Price yet to break below the cloud for this time frame.
  • If the support line is held an up move is possible in Dow Jones