- Ford Motor co Daily and Weekly charts continue to look bearish.
- Friday the stock broke down from a range. Weekly chart shows a bearish flag breakdown, Weekly stochastic does not show any reversal signs.
- Third chart shows a possible support line which may give a reversal for the stock, But this support line is also the neck line of a big Head and Shoulders pattern. Bulls of Ford must hope that this pattern gets failed to avoid a bigger correction.
- SPY WEEKEND UPDATE
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
June 30, 2012
Ford Motor Weekend Update
SPY Weekend update
- SPY Weekly chart has given a bullish engulfing pattern.
- For bulls price need to sustain above 20 Week SMA and the Golden Ratio shown in 3rd Chart. Trading above Golden ratio should target the 78.6% Fibonacci level area at 138.6.
- Hope left for bears as the Weekly MACD sell signal has not been negated completely . Bears must hope for weakness near 80% retrace level. Any weakness there will keep the MACD sell signal alive. But i must warn that the momentum in daily has turned in favor of bulls.
- S&P 500 CHART ANALYSIS
S&P 500 Chart analysis
- SPX Four hour chart shows price at the upper end of the range.
- Trading above 1363 and 200 period SMA of four hour should favor bulls for the coming week.
- Daily chart closing above the cloud should also favor bulls.
- SILVER CHART UPDATED
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