May 22, 2012

S&P 500 Hour chart analysis

  • SPX Violating channel resistance line and 50 Hour SMA.
  • Bulls must breakout and sustain above the cloud for a possible trend change.
  • Failing to move above the cloud may result in a pullback. 
  • APPLE CHART ANALYSIS


APPLE Chart Analysis


  • Apple daily chart gave a bullish candle But there was no big volume change for this up move.
  • Price need to cross 20 SMA on closing basis to extend this up move. 
  • The bearish cross and 50 SMA will be challenging for apple bulls if price manage to extend this oversold bounce.
  • S&P 500 ANALYSIS AFTER CLOSE



S&P 500 Futures chart analysis


  • ES above 100 Hour SMA. Sustaining above this level could lead to a larger up move towards 200 Hour SMA.
  • Four hour chart too is testing a resistance line. Above this line price could lead to 50 period SMA and the Ichimoku cloud.
  • S&P 500 ANALYSIS AFTER CLOSE



NIFTY Chart analysis


  • Nifty tested 5 Day High EMA after a long Gap and came down.
  • Daily MACD is looking good so for a trading bounce. But need price to stay above 5 day High EMA.
  • Last chart shows fibonacci levels which may act as resistance if the trading bounce does come.
  • USDINR CHART ANALYSIS



S&P 500 Analysis after closing bell



  • SPX Weekly chart shows price getting support at the trend line which was discussed in SPY WEEKEND UPDATE. (Click the link for a clear view of the resistance line.) Its also the 50% Fib level which is acting as support level. 
  • Other resistance levels shown are the 38.2% fib level, Four hour chart shows a falling resistance line. Hourly charts with 50 Hour SMA and the cloud.
  • Clear breakout above 38.2% Fib level should extend this up move.