- 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
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
May 22, 2012
S&P 500 Hour 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.
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