July 17, 2012

SPY Chart analysis

  • SPY Near the apex of a contracting pattern. breakout or breakdown may result in good moves.
  • Right now price is testing 200 period SMA of 4 Hour time frame. for the up move to sustain price has to stay above this level and the falling resistance line.
  • For a bigger up move the range 132.60  - 137.50 has to be resolved. 

S&P 500 Futures chart analysis

  • ES Four hour chart is in a range near Golden ratio. Price sustaining above 50 period SMA is good for bulls. Bulls need a breakout above the black line shown in last chart for the up move to extend towards 1370 levels.
  • Price sustaining below 1350 would lead to a correction towards 1335 levels.

NIFTY Intraday update

  • Nifty Hour testing 200 Hour SMA.
  • Price is stuck between two GAP's and a small falling wedge pattern.
  • 200 Hour SMA Holds the Key. If price sustains below 200 Hour SMA and the falling wedge's support line we should see a fall to fill the GAP on the downside.
  • Bullish above the falling wedge resistance line and on a break above 5231.

NIFTY Chart update

  • Nifty has closed below 20 day sma AND 23.6% Fibonacci level.
  • Nifty Hour is at the crucial 200 Hour SMA. Bears of nifty need a breakdown below this level. Getting support at this moving average will result in a bounce.
  • Hour chart also shows price near previous resistance levels which may result in an oversold bounce.
  • S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

  • First chart shows trend lines and support lines which must be taken out for a bigger move to happen.
  • Second chart shows the range 1325 - 1374 which must be broken for a bigger move.
  • Last chart shows rising support levels with the up move of 200 Day SMA. For bears closing belwo 200 SMA will result in a bigger correction.

APPLE Support and resistance levels

  • Apple four hour chart moving up in a channel. Sustaining withing this channel corrections will be shallow and the steady up move will continue.
  • Price shows major resistance at 78.6% Fib level and 20 Week SMA as crucial support.